The Finance Fiend

Getting Financial Freedom by 35!

Our Financial Goals March 26, 2009

Long term goals:

1.  Pay off mortgage in 10 years (19 years ahead of schedule) {Currently paying $350/mo extra to the principle} The HELOC is below $1000! We were for a while paying an extra $650 toward principle, but are taking a break to pay for tuition and save up for having a baby.

2. Build money toward the future via I-bonds {plan on buying $25 bonds at least once a month, working toward more/greater value bonds} We have not started this.  This might get pushed off until we have our emergency fund fully funded and own child #2.

Short term goals:

1. Replace windows in living room {we got a fixer upper, and we have been repairing/replacing many of the openings in the home, windows is next on the list} We have several windows in the garage, and we even replaced one of the windows in the living room.  However, the new one looks a little dumb, so we are considering ordering a window that will fit the hole better.  It just requires money and time.

2. Plant garden and (hopefully) decrease the grocery budget by having to buy less produce. {I do not expect to recoup my investment this year, as we built a raised bed, and the lumbar and materials alone cost over $200, then we had to amend the soil we put into it and are running at around $300 so far for the year. But its also a hobby, so that’s ok.} Mid July, the tomatoes took over the garden.  Especially the cherry tomato plant.  I had 2, one got blight, and the second is stretching literally from one end of the garden to the other.  Entirely covered in cherry tomatoes.  I have dehydrated a fair bit, and given away some as well.  So many cherry tomatoes.  The bigger tomatoes are getting eaten by bugs.  I might cut the plants down so I can plant my fall crops before it gets too cool for them to grow.

3. Buy a second vehicle (haven’t begun working towards this, has only been discussed).

4. Make home more energy efficient. We bought a blanket for our hot water heater.  Lets hope it makes a difference.

5. Set up a seperate savings account that we get to $1000 quickly, then continue to add money until we have a years woth of our fixed expenses covered. Sometimes financial emergencies can motivate one spouse to do something the second thought was wise.  This has finally been agreed on.  We plan to have at least $1000 and no credit card balance by Thanksgiving.

6. Buy our family Christmas presents.  This is the first year that we feel we can afford to buy people Christmas presents.  Granted, I am trying to make most of them be from reward points from using the credit card or for taking surverys, but still its gift cards we won’t be using on ourselves.  We are making $20 per family the goal for the husband’s side, so thats the goal for my side as well probably. Though, we live closer, so they might get more practical gifts that cost less. Like food storage.  One movie passes for 2, no restrictions and $40 in gas cards purchased.  Yes, they are somewhat practical gifts, but the gas cards we can’t use farther West than St Louis, MO so they are for Eastern relatives. The movie passes are for an inlaw couple that will enjoy them, even if thier adult ticket prices are way lower than our local movies are so the deal isn’t quite as sweet.

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