I'm already looking ahead even though Christmas isn't yet here. With 2013 winding down, it's become clear to me that we did a lot of things right and screwed up a lot of others, so for 2014 my resolve is to make things simpler and more focused.
In 2013,
-we didn't meet our college savings goals of 3k a year/kid. We saved 2400 for each kid. Still respectable I guess.
-We didn't manage to put much of anything in DH's Roth
-We still have no will, and no life insurance. Ugh.
It's just reality. We used to be able to tackle a million goals all at once and go big. We could sock away money and pay off debt. But life is very different now.
For one, we now have a mortgage, whereas our last house was paid off. That's a huge chunk of money we don't have every month.
We also now have two kids. When they were babies, they were pretty cheap. breast-feeding, no daycare. Now, we have one preschool bill, and two activities a week (swim and gymnastics) plus, allowances, clothes, and other activities. And feeding them. They eat constantly!
I also had to give up a bunch of paying but not super profitable work this year due to time crunch and sanity. I don't regret it, but I miss the checks!
Yes, life is more expensive.
We did do one thing right: We knocked money off the mortgage. Last Jan. 1, our balance was about $72,500. This Jan. 1 it will be about $56,500. $16,000 off the balance. Hazzah! Now that, I am proud of.
I want that mortgage gone so I can rest easy, so the goal is to pay it down to $41,500 by next Jan. 1.
So, looking back, I wasn't very realistic about how much money we had coming in and out when I set the goals. This year, I have fewer and more focused goals. We're strapped for time, money, and energy, and having fewer goals I think will let us focus on what is most important in the coming year: saving a base amount each payday, for college, and for retirement, while also putting a sledgehammer to the mortgage, by far our largest monthly expense.
2013 eek. Simplifying in 2014
December 17th, 2013 at 10:29 pm
December 17th, 2013 at 11:22 pm 1387322556
December 18th, 2013 at 12:45 am 1387327558
December 18th, 2013 at 03:00 am 1387335617