Our Financial Goals For 2009

Review of 2008 Personal Finance Goals

I set some goals last year for 2008. Since February I’ve been updating you with our progress. I decided I should review how I did in 2008 financially and then give my goals for the upcoming year. Basically some goals were met; some weren’t.

Income: The goal is $60,000 for the year as a family.

Goal was not reached (?). We’ll know for sure once we get our W-2s, but I’m going to err on the conservative side. I know we did better than last year, but with 5 companies between us and a big move this year it’s a bit unclear.<

Spending: I’m going to continue cutting back on eating out to twice a week, including weekends.

Goal was not reached. I definitely cut down on eating out, but not twice a week, including weekends. I eat out about three times a week with weekends included. Not bad, but technically I didn’t reach the goal.

Investing: We’ll contribute to our retirement funds.

Goal was reached. After resigning from my job, it definitely decreased the amount I put aside, but money has been set aside for savings. The amount in my retirement savings has gone down as many others’ have in this year’s market. My husband has automatically invested money into 401(k) as soon as he qualified with his company. He also rolled over his money from his old job’s 401(k) into a Vanguard IRA.

Saving: We’ll have 3 months expenses in an emergency fund.

Goal was met. We have several accounts that can cover our expenses if something comes up. Since we’re living on one steady income in this economy, this was a priority.

Debt: I would like to pay off my car loan by December 31, 2008.

Goal not reached. We have money in our savings to cover this expense, but we don’t feel comfortable lowering our cushion quite yet.  We’re putting it off until next year to be on the safe side.

Your Goals

How have you’ve been doing with your goals? Did you make them? How did you do it? Did the economy throw your goals for a loop?

2009 Personal Finance Goals

Based on my 2008 goals, talking as a couple, and the economy, we came up withe some 2009 personal financial goals. I ordered it by time frame.

• Debt: We would like to pay off my car loan by March 31, 2009.
  
• Spending: We’re going to limit eating out for dinner to twice a month.
• Frugal: My husband would like to bring his lunch to work at least three times a week.
• Savings: We want to have 6 months in the joint account in addition to building our house fund.

Let me know what your goals are.

This post was included in the Carnival of Money Stories# 92 hosted by Gather Little By Little.

Photo Credit:  wonker

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