Wednesday, October 10, 2018

Third 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.  PASS.  I am done with this goal!  I have contributed $10,600 to retirement this year.  I plan to continue contributing throughout the year.

2.Increase EF to $18,500. I am slowly adding money to this goal.  My total emergency savings are about $16,800.  I hope to increase this over the next 3 months to meet this goal.  However, that might change based on what happens with hurricane Michael.

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 have been adding an extra $400 a month to the mortgage.  I am definitely on track to have this under $200,000 by the end of the year. I might have it under $200,000 by the end of the month.  However, again, that might change based on what happens with this hurricane.

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 $7,617 as of the time of this entry. Again, I hope to focus on this more after you know, hurricane michael.

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 $278 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 $0, but I have been using this for various medical appointments.  I need to add to this to cover my dentist appointment at the end of the year and the one I just had. 

9. Continue to build car repair fund up to $1,000. This is currently at $173, but I will need an oil change before the end of the year. 

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. I have been researching doctors, but I have not selected one yet. 

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. I'm did not do super well with this for the third quarter either.  I HAVE to do better this last quarter. 

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.  I am up almost $20,000 since my March net worth update.  

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


  1. I so admire a person with such difinitive goals! Given that you had 15 of them, I think you are doing great! That is a lot to tackle in one year!

    My goal was far more generalized. I wanted to see our non-mortgage debt reduced by $18,000. I am pleased to report that we reached that goal at the end of July, and have continued dumping a tremendous amt of debt. We also had some other wins such as refinancing our house from a 30 to a 15, which brought our interest from 4.5% down to 3.25%. It has been a great year for us in making better financial decisions!

    1. Yes!!! Way to go!! Making better financial decisions is the only way for all of us to become financially independent. You have really killed your debt this year!

  2. I added you to my single girl money list... let me know if it was a misstep!

  3. Congrats on hitting so many of your goals! I hope you consider going to a psychiatrist/psychologist for depression treatment rather than just a primary care doctor. They're fine (if not great) if you already have a drug regimen, but you want a mental health expert if you're just getting started with mental health medications.

    1. Thank you! I plan on seeing a primary care doctor first because I think my depression stems from anxiety. The anxiety stems (mostly) from my continuing anemia issues.