Saturday, December 31, 2011

2011 Financial Goals End of the Year Update

These were our financial goals for the year 2011:

Financial Goals 2011

  1. Pay off $12,000 or more on mortgage. We will end up paying 10,000 off on our principal since we had two weddings this year. There is a chance we may be able to pay more, but we will see. We paid $10,722.84 on our mortgage principal so we were a little short this year on our original goal, but since we also had the two weddings this year we feel good about what we did.

  1. Rebuild emergency fund to $2,000 (hail damage to roof and 2 cars, $500 furnace repair) This is DONE.

  1. Invest an extra $1000 -$2500 so far. We invested $2,771.80 above and beyond the 11% retirement below.

Ongoing Financial Goals

  1. Save $550 per month to live on when we don’t get paid in the summer. DONE

  1. Contribute 11% to retirement. DONE

  1. Pay cash for family vacations, Christmas and wedding for kids if it happens. We paid cash for all of these, including the 2 weddings.

  1. Pay cash for any college expenses if necessary to help kids get out of college without any debt. DONE

How did you do on your financial goals this past year?

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