In past years, I’ve set financial and life goals for our family. Here are 2009, 2010, 2011, 2012, 2014, 2015, and 2017. Apparently last year I just didn’t feel like doing it. Ha! This year, I’m going to try to set realistic and attainable goals. Those are the best ones! Here are some things I would like to work on in 2019.
Sinking Funds. We want to set up various sinking funds for home improvement, car replacements, birthdays, and vacations. I want to be prepared when the time comes to replace appliances or vehicles, and would also like for us to be able to visit my husband’s family in the summer/fall if possible. We will do our best, and see how this goes!
Retirement. I really want to save 10% of our gross income towards retirement this year. I think this is an achievable goal. I would love to be able to do 15%, but we will see! 10% is a doable amount, so that’s what I’m going to officially aim for!
College education. I would like to save more for future college expenses. However, if our daughter decides she doesn’t want to go to college, that’s fine too, and we will support her through her choices. Of course, we would really like her to be able to attend if that’s what she chooses, so the more money we have saved, the better! We also would like her to contribute to her educational expenses. I know when you’ve got the responsibility on you, you take things more seriously so we will ask that she does contribute to her education.
Debt Free/no new debt. We still owe a dentist around $600 I believe, and we should have that paid off in 5 or so months. It’s at zero percent interest, so we aren’t in a terrible hurry to pay that off but it would be really nice to not have to think about making that payment each month. It also would be nice to have that monthly payment freed up to put towards retirement.
Mortgage. This is the last goal, and for a good reason. I don’t think we are going to kill ourselves to throw tons of extra money at our mortgage. We have a low interest rate, and mortgage rates have risen a lot since we refinanced. We will continue to pay a little extra each month (we round up a little) so we are shaving time off our mortgage. We do talk about moving to a little bit bigger house with more property, so who knows what the future will hold. We are open to new things!
What are your goals for 2019?