Saturday, January 5, 2019
Fourth Quarter Update
At the beginning of 2018, I set some goals for myself. Let's see how I did.
1. Add $10,500 to retirement savings with the goal of having $35,000 saved for retirement by the end of the year. $5,500 will go into my roth ira and $5,000 will go into a taxable account. Come on stock market growth and no recession! Last year I contributed $9,500 so this will be an increase of $1,000. PASS. I contributed $10,760 total. My balance did not reach $35,000, due to the uncooperative stock market.
2.Increase EF to $18,500. PASSISH. My E-Fund ended the year with a total of $17,916
3. Pay an extra $290/month toward principal on the mortgage. My easily reachable goal is to have the mortgage paid down to $200,000 by the end of the year. The ultimate goal is to have the balance paid down to $197,500 by the end of the year so that the PMI will drop off the mortgage. PASS! I actually added about $400 extra to the mortgage for several months. The mortgage ended the year at $198,399. My PMI will drop off when the balance reaches $192,600.
4. Save an additional $5,000 for my car replacement fund with the goal of having $10,000 in my car replacement fund by the end of the year. I will be aiming to purchase a new car in 2019. I hope with a trade in and any money saved in 2019 to have $20,000 to put down for a new car. FAIL. My car replacement fund is at $8,947. I only added $3,750 to the fund.
5. Read 15 books. FAIL- I only read 7 books in 2018.
6. Lose 20lbs. I plan to try to lose about 3lbs a month which should place me at 36lbs for the year. However, I know I struggle with weight loss so I think 20lbs is a good goal. I also want to commit to exercising 30 minutes a day for 4 days a week and eating more vegetables. FAIL- I exercised more than I thought I would, but I did not lose 20lbs. Gotta do better this year.
7. Donate $300 to charity. This is up $100 from last year, I hope to be able to donate more than $300, but let's see how the year rolls. I plan to increase this amount each year. PASS. I donated $338 to charity this year. I also donated 2 bags full of clothes.
8. Build medical fund up to $1,000. FAIL- this worked as a sinking fund. I put the funds in and pulled them out as I needed them.
9. Continue to build car repair fund up to $1,000. FAIL-this also worked as a sinking fund. I put the funds in and pulled them out as needed.
10. Get more life insurance. FAIL- I need to lose weight first.
11. Try to figure out a happy medium for the travel reimbursement fight. I want them reimbursed in 30 days and the firm will wait 60 -90 days to reimburse me. I think I will argue for 45 day reimbursement and all outstanding travel vouchers to be paid at year end. FAIL.
12. Find a new primary care doctor and receive treatment for anxiety and depression. FAIL.
13. Make a decision about my career and job. FAIL- but I did get a raise.
14. Try something new (or outside of my comfort zone) each month (restaurant, activity or social event). PASSISH- I tried a lot of new things last year. New cities, new restaurants and met new people.
15. Increase net worth by $25,000. Not sure yet. I haven't run the numbers for my net worth yet.