Goals for 2015 Update: Financial Goals

We’re almost 3 months into 2015 and I thought I would check in with y’all in regards to progress on our goals.


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Today I’m talking about our financial goals

I have a crazy-detailed spreadsheet that shows how much we need to be saving each month to hit our goals. These are for relatively large-ticket items that we wouldn’t be able to just cash flow when the time comes.

These are the things on my list (we put away money for other things too, but these are what I think of when I talk about our monthly saving):

Goals and Progress toward our end of year target:

  • Homeschool Tutorial Tuition 1st Half (50% funded)
  • Vacation to MN (100% funded)
  • Homeschool Tutorial Tuition 2nd Half (30% funded)
  • Homeschool Registration and Fees (100% funded)
  • Vacation to Indiana (30% funded)
  • Emergency Fund (25% funded)
  • Car Replacement (25% funded)

Our income varies from month to month. We can’t afford to save as much as we want during some months, but if we average it out over the year, hopefully, we can make it work. Our goals are top-heavy with the beginning of the year– meaning we have more thing that we need to save for for the first half of the year than we do for the second half. In January and February we didn’t have enough to cover every saving goal 100%.

So, what do you do when you income varies and you don’t have as much as you “need” some months to fund all your savings line items?

For us, we looked at two different factors. First, we decided that the very most important thing for us was to meet our monthly savings goals for our Emergency Fund first. We are tired of working on it and want to DONE by the end of this year! Second, we funded the things that were coming due first.

When we we got our tax refund, I went through and caught up the things that were behind. In fact, we have knocked two things off the list now!

How about you? Did you make some financial goals for this year? How is your progress?


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