Sunday, July 1, 2018

Second Quarter Update

At the beginning of the year, I set some goals for myself.  Let's see how I am doing.

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.  So Far I have contributed $6,500 towards retirement this year.  $5,500 of that went into my Roth IRA.  $1,000 to my taxable account.  I still have $4,000 left to contribute towards retirement for the year. 

2.Increase EF to $18,500. I added just a little to my EF, but then I had to spend $335 for the garage door repair.  I will focus on this after my retirement savings for the year are done. 

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. So far so good,  I have been paying $400 extra on the mortgage for the last few months.  I am defintely on track to have this under $200,000 by the end of the year. 

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. My car replacement fund is sitting at $6,587 as of the time of this entry. Again, I will focus on this more after my retirement accounts are funded for the year. 

5.  Read 15 books. I have completed at least 3 books this year.  I have been starting books, but  not finishing them.  Hopefully I'll do better for the next report.  

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.  I haven't weighed myself, but I have been getting in 4 days a week of exercise most weeks (Except when traveling). 

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. I have contributed $203 to charity so far this year.  I'm actually ahead of schedule for where I should be at this time of year! I can't wait to see how much I actually end up donating by the end of the year.

8. Build medical fund up to $1,000. This is sitting at $57, but I have been using this for various medical appointments. 

9. Continue to build car repair fund up to $1,000. This is currently at $240, but I will need an oil change in the next week or so. 

10. Get more life insurance. No progress here.

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.   I haven't had a chance to even begin to address this.  However, there are a lot of changes coming at work and this might be a bargaining tool for me. 

12. Find a new primary care doctor and receive treatment for anxiety and depression. No progress.

13. Make a decision about my career and job. No progress.

14. Try something new (or outside of my comfort zone) each month (restaurant, activity or social event). I did pretty good at this for the first quarter, but not so great for the second quarter.  I did try a new restaurant, opened a new savings account for a higher interest rate and continued to tip cleaning staff at hotels.

15. Increase net worth by $25,000. I failed to do a net worth post at the beginning of the year. I have been adding to my retirement savings and paying extra on the mortgage so I am definitely making progress on this goal.  Stay tuned for an updated net worth post. 

How are you guys doing on your yearly goals?  Are you on track or falling behind?  I feel like tracking my yearly goals helps keep me accountable and making progress.


  1. I need to go through what few goals I made this year and check on my progress...thanks for the reminder.

    You are doing well on your financial goals. I'd make the find a new doc/health goal more of a priority as well. I just started anti-anxiety meds myself and it seems to be helping my peace of mind(hate the side effects but hopefully those will fade).

    1. I know, I definitely should make healthcare a priority, but it seems so daunting. I've researched doctors that accept my insurance and I just can't make a decision.

  2. Your goals are great. I may need to make me some. Agree, number 12 is important as that can have effect everything else in life. I found my anxiety was related to my anemia. Go figure. My combo of low dose fish oil + iron do the trick for me now (thankful).

    I really like the thought of 14. I do have something new planned this month.

    Congrats to paying extra on the mortgage!

    1. I have anemia too and my previous doctor didn't want to prescribe an anti-anxiety medicine because she felt that correction of the anemia issue might correct the anxiety issue, but it never did.

      I tend to get stuck in routines so I need to make sure that I really focus on #14. I think it's helping.

      Thanks, it feels good to pay extra on the mortgage. It's like a little gift to my future self.