It’s March already! I’m waiting for the weather to be consistently warm instead of this 20 degree  temperture fluctuation we keep getting in this area. Work has definitely been keeping me busy. Since it’s the beginning of a new month, I’ve decided to do an update of my 2008 goals. Here are my financial goals:

• Income: I would like to earn $37,000 for the year.
• Spending: I’m going to continue cutting back on eating out to twice a week, including weekends.
• Investing: I’m going to enroll in my company’s 401(k) and meet the employer match. I’ll also continue to contribute to my Roth IRA.
• Saving: I will have $2,000 in my emergency fund by September 1, 2008. I would also like to put our income tax return into our house fund.
• Debt: I would like to pay off my car loan by July 31, 2008. I would like to have my car loan out before I have to start paying student loans.

Here’s how I’m doing with my financial goals:

• Income: I haven’t reached my monthly goal. I’m working a bit more, so I have seen a small increase in my income. I’m also working on improving this blog and making it a win-win situation.
• Spending: I did really well in February. I went out an average of once a week for lunch. I was diligent on saving leftovers and it is paying off. I also saved money on gas, as I didn’t have to drive around to get my food. I work on a rural area, so this helped out.
• Investing: I did enroll in my company’s 401(k). I’m currently putting in enough to get the company match. I’m also making minimal payments to my IRA. Once I eliminate my high interest debt, I’ll go ahead and divert some in my retirement accounts.
• Saving: I’ve been automating my emergency fund deposits, so I’m doing alright. The tax return refund is now going to be used to pay down the car loan.
• Debt: I’m better now that my car loan payment is a bit more realistic. It felt good to reach my goal, instead of failing like I did in January. I also placed that coffee cup up and while I would love to use it on some sugary caffeinated drink, the money will go towards killing the car loan. Please do not free obligated to donate. I just put that there so I’m covering all my bases on destroying this loan.

As you can see I still have a lot of work to do, but life is like that. If you have any suggestions to help me reach my goals, please share. I hope everyone’s Monday is starting out alright.

How about you? How are your financial goals going so far this year?

Photo Credit:  It’sGreg

_{»crosslinked«}

Be Sociable, Share!

• 

• April 2008: Progress Update Photo Credit: It’s Greg A lot has happened in March! We moved out of state last month and I started a new job. I like the new city, but I miss our friends. Since it's the beginning of a new month, I wanted to give an update of the......
• June 2008: Progress Update Photo Credit: ivanx It's the beginning of the month and I'm reviewing some of my goals for 2008 with you. As always, please leave any suggestions on how I can successfully complete my goals. I also love hearing what your goals are and how you're doing. Let me first......

• Confidence Boost from Retirement Planning Tools I am a 100% self-directed investor, including using a self-managed brokerage account inside my 401(k) plan. Nevertheless, I periodically look for affirmation from objective third-party sources that our retirement investment plan is on the right path to success. I received some positive affirmation this past week, boosting my confidence in......
• Nothing’s More Fun Than Columns Of Numbers Greg McFarlane is an advertising copywriter who lives in Las Vegas and Lahaina. He recently wrote Control Your Cash: Making Money Make Sense, a financial primer for people in their 20s and 30s who know nothing about money. Check out both the physical book and the Kindle version and feel free......