April & May 2017 Financial Update

I’m still working on catching up on life… But I figured I couldn’t go two months without doing an update on my financial goals for 2017

(Want to know a random fact? Last year I missed my April financial update too! Crazy, eh?)

So… Let’s get started…

#1 – Emergency Fund

If I’d done this update at the beginning of April, instead of the beginning of May, I’m sure the status of these funds would be a different story, but because I worked loads of overtime in April, we had a big extra to add to our savings goals, so both of my emergency funds are on the way up.  If I’m being completely honest, my “pet emergency fund” is also where I take money for buying pet food and routine vet visits, so there is a possibility that it will go down before the month is up, but hopefully we will keep up the months where we contribute more than we take out…

Human Emergency Fund = $6740 (+$1540)

Pet Emergency Fund = $1325 (+$1275) Continue reading

March 2017 Financial Update

Another month gone by, and so it’s time once again to check in on my financial goals for 2017.

#1 – Emergency Fund

Last month I must have jinxed myself by saying it was a good month if we didn’t use any of the emergency fund… So… This month we had to use some of the emergency fund to cover some things… So it’s a down month, but I know we will bounce back from this and move up.  The puppy got neutered this month, so his expenses were a little higher than normal.

Human Emergency Fund = $5200 (-$1100)

Pet Emergency Fund = $50 (-$50) Continue reading

February 2017 Financial Update

I set some pretty challenging financial goals for 2017, and it’s time to do the 1 month check-in.  This will be really short and sweet because I don’t really have much to report…

#1 – Emergency Fund

Not much progress on this one, but if we don’t use any of the emergency fund money, that’s sort of a win in itself, right?

Human Emergency Fund = $6300 (+$100)

Pet Emergency Fund = $100 (+$100)

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Financial Goals for 2017

Last year I laid out 4 financial goals, but also added another goal of keeping our monthly spending below the average of the year before, and we reviewed them on Tuesday

So, now it is time to discuss what my financial goals will be for 2017.

2017 Financial Goals

When I sat down to write out these goals, I had so many things I was dreaming of and wanted to do (imagine if I could be mortgage free and retire early and travel the world and… and… and…), but I really have to make it realistic if I’m going to accomplish anything, so it took some calculating, instead of just pulling numbers out of a hat like last year.  After all my brainstorming and figuring, my goals for 2017 don’t look all that different from the goals I had for 2016… Just slightly different numbers… Continue reading

2016 in Review: Financial Goals

At the beginning of 2016 I laid out 4 financial goals for 2016:
(I will label them 1 to 4 here, but they were actually goals 3 to 6 for 2016.  You can see a review of the rest of my goals for 2016 here and here…)

  1. Emergency Fund at $10,000
  2. Save for Planned Spending
  3. Net Worth & Retirement Savings
  4. Mortgage Renewal & Account Consolidation

And, though I didn’t give if an official goal, I also had the goal of keeping our monthly spending under the monthly average of 2015.  So, for the purpose of this review, we will give that the number 5.

5. Keep Monthly Spending Under $7700

I’ve reviewed them often enough throughout the year in my monthly financial updates, but here’s the year-end final review. Continue reading

December 2016 Financial Update

Here it is, the last month of 2016.  I can’t believe how fast time flies by… Does that make me sound old?  I feel old.  Ha ha ha!  In any case, it is time to do the last financial update before the new year.  This is the last month for me to get all my financial goals completed… Fingers crossed, right?

November Spending

The goal is to be below the average from last year of $7700, but November came in at $8800… We are over again… But all hope is not lost… Because of the low spending months at the beginning of the year, if we keep December spending under $5700 we could average about the same over the year… Of course, everyone knows that December is the spendy-est month of the year, so I’m not exactly expecting success on this front.  Anyway…  This total includes our mortgage, utilities and normal monthly costs, but doesn’t count special spending that we saved up for (planned spending as I call it).

november-2016-spending

We once again had some extra mortgage expenses that I wasn’t totally expecting because I didn’t really take a good look at the dates…  We took both the dog and one of the cats to the vet this month, so that was a bit of a bigger expense, and we also got life insurance on both myself and my husband now, so we started the monthly payments on that this month.  (Hmmm… Should I do a post about our life insurance?)  And another reason for the higher expenses is that we started buying Christmas gifts and we sent some gifts to family overseas.

Last year, November was another very frugal month for us (lowest month in 2015!).  We came in just over $6000.  But as I mentioned in the last update, I was away for work for a lot of October and November last year, so I am not sure that it is truly representative of our lifestyle or just a fluke…

And now for a quick recap of my finance-related goals for 2016:

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If I had a Million Dollars…

one-million-dollars

Last week, Sarah and Scott over at Couple of Sense wrote a post titled “What Would You Do With A Million Dollars?”  Their post went down the rabbit hole of how a million dollars isn’t really that much these days…  and then discussed what they would want as their cash number to be able to quit work and buy a house…  But you can go read that post and see what they discussed…

Anyway, it got the wheels turning in my head about what I would do with a million dollars and what a random million would do to my finances… So I decided to play a little game…

Let’s say that I was somehow given $1,000,000.  Straight up, no tax implications or whatever (it keeps my game simple).  What would I do with it and how would it help me retire?  I have once done a post where I basically discovered that at my current rate I will basically never retire… But maybe a $1,000,000 boost will help me?

Continue reading