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?

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

One CommentLeave a comment

  1. Wow! I think you guys did a great job! You have a lot to proud of (and thankful for!) I do understand your disappointment; it’s the same way I feel every time I look at our still-there student loans… Anyway, I’m sure you will have those loans paid off in two years, and most certainly will be well on your way to paying for you house! Congrats on all the steady plodding! 🙂


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s