I recently posted about my goals for 2010, and I thought I’d do a quick recap of my 2009 goals before I forget to do it.
– File taxes ASAP. We did file them as soon as we had all our paperwork. I honestly can’t remember if we owed or received a refund. It must not have been major enough for me to remember.
– Eliminate car payment. We did pay off our car in May 2009. We went back and forth on the method — sometimes we paid extra per month, and sometimes we put money into a savings account. We ended up saving up to pay it off in one big payment, since the economy was so shaky and we thought it would be better to have as much cash on hand as possible. Not having a car payment has been fantastic! Our money really goes a lot further. We’re now saving to pay for a second vehicle with cash someday.
– Increase retirement contributions, start college fund, set aside money for a house. We didn’t change our retirement contributions. Right now, it’s about 9 percent of Shane’s gross income with no company match. We will increase it within the next few years. The college fund didn’t get started last year. I did start Johnny’s college fund the other day, sort of. It’s just an earmarked account in our high-interest savings account at the moment. There isn’t much money in there, and there won’t be for awhile. We just have a few other financial priorities at the moment. Still, a few bucks here and there won’t break our budget, and it’ll help Johnny down the road. And, if he gets cash gifts, they’ll go into that account for now.
Money for a house is being postponed — we’re going to get money for that second vehicle first. I am optimistic that we’ll be able to resume saving for a house later this year.