Quarterly money check-up and other musings

I know I know I haven’t updated as faithfully as usual in the last two weeks, like I said on Sunday; I’ve been ridiculously busy! On the upside I’ve got some inspiration for new stuff and have made some changes to the blog,  mainly in the sidebar.   Update: I made changes in the sidebar and upped a new header, hope you like!

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I’ve been staring at my goals for the year realizing I’m doing so wickedly awesome that I’m going to surpass… errrr, all of them so it’s probably time to set some new ones like Will @ Hacking the Bank suggested to me after this post.

So let’s see, these were the goals I set for 2011:

1. To complete at least 4 more courses for my degree.
2. To have a total combined savings balance of $3,000 or more
3. To make a trip overseas to visit family and friends.
2. Have a student loan balance below $10,000
4. To keep making one extra mortgage payment of $100 per month.
5. Have a net worth above $18,763.51.19.

And this is how I’m doing, goal by goal:

1. On track
2. Current savings $0
3. Planned for fall/end of year. On track
2. Currently sitting at $8,782. Surpassed goal
4. On track
5. Currently sitting at $18,096.41. On track

I’m only off-track for one of the goals so far, number 2, but I expect to bring that right back  on track to have my savings built up enough by the end of the year. I’m doing great for the four other ones and in two cases have already or will surpass my YEAR END goals very soon. Guys, it’s April. I have no idea how it’s possible that I’ve done so well.  I have paid off more than $7,000 on my student loan in the past 6 months and I was aiming to pay off only $5,000 over the course of the YEAR. So yep, it is definitely time to set some new goals, I will probably have to revise again in a few months as I find out how far off my goals are.

You know it s spring when…

New 2011 goals:

1. To complete at least 4 more courses for my degree. – will stay the same
2. To have a total combined savings balance of $3,000 or more – changing to $2,500, 1000 E-fund and $1,500 misc savings
3. To make a trip overseas to visit family and friends.will stay the same
2. Have a student loan balance below $10,000 – Changing to $5,000 July 1
4. To keep making one extra mortgage payment of $100 per month. – will stay the same for now
5. Have a net worth above $18,763.51.19.- aiming for $22,000 year-end

I hope that when I update again on this mid-summer I can happily tell you I’ve surpassed my goals again, time will tell! I do know that right now I’m starting my most expensive time of year. Spring time usually means I do house maintenance and car maintenance, I just picked up a set of new tires and began raking the yard while mentally planning to finish off the shed. I’m also planning a small vacation which while fun will also cost some money. Thankfully I have my budget and this blog so I can deal with this stuff better than I have in previous years!

Published by Renée

I write about my life, travel and my financial up and downs on my blog, Nickel By Nickel, while contradicting myself daily. ;)

15 thoughts on “Quarterly money check-up and other musings

  1. Good luck with your goals – It’s always difficult setting them the first time around because you have no idea how you’ll do. Once you get some time under your belt, you can take what you’ve previously done and try to do better over the next block of time!


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  3. Great goals Andrea, and also there’s some excellent transparency there too! That savings amount of $0 is pretty scary though. You should really have at least $1,000 in case of emergencies don’t you think?


    1. I usually have a $1000 e-fund, emptied it last week because of car repairs etc. it will be replenished in the immediate future, thanks! (also my e-fund is not my only source of cash if I need it, I’ve recently taken the approach of dumping every stray penny on my SLOC, a student line of credit, rather than having it sitting in misc savings accounts or even my regular checking. All of my accounts are literally at a $0 balance 95% of the time until that SLOC is paid off.

      I HAVE broken the debt cycle so I am not extremely worried about taking money back out of the SLOC if I need it, hope that explains my reasoning a bit!)


    1. Ya think? Haha you guys have more faith in me than I do… I’m still trying to play it conservative… those spammers are getting better… it’s hard to tell sometimes. WordPress filters certain bloggers out as spam… then lets through others and sometimes it’s impossible to tell which is which :/ thanks!


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