meeting our goals

Last January, I shared with you our financial goals for 2010.

Today, I will share with you the outcome of those goals.

Goal #1: Acquire $2000 in an emergency fund.
Result: Success! We have that and a bit more in our emergency fund, as well as an extra month’s worth of funds in checking.

Goal #2: Contribute $1000 to our Roth IRA.
Result: Almost. We contributed $700. It would have been nice to contribute more, but something is better than nothing.

Goal #3: Pay off about $7300 in principal on our debts.
Result: Success! We paid off about $10,400 in principal on our debts, so we exceeded this goal by quite a lot.

I am both excited and disappointed, somehow. We set realistic goals, and even exceeded the amount that we paid toward principal on our debts. We had another baby, went on a big vacation, ate well, and still my husband was able to support all four of us on his one income as well as make additional payments toward our debt load… despite having no work for three months out of the year.

Yet we still have debt, and I suppose that is the thing that disappoints me.

I once heard that people overestimate what they can do in a year and underestimate what they can do in five years. At the rate we are going, we will be out of debt in a little over two years. That’s not too shabby. I want it to be today, of course, but this steady plodding thing is paying off. I hope that five years from now will see us out of debt and being halfway finished paying for a home of our own. It could happen, right?

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Published in: on January 4, 2011 at 8:42 pm  Comments (1)