2012 Financial Goals Report #3

As I’ve done in previous years I’m keeping track of the progress we’re making towards our annual financial goals on a monthly basis. The key word here being progress. Because that’s what I’m concentrating on this year. Progress. No beating myself up because I’m not perfect. No beating myself up because I bought something – which I still do on occasion.  Just steady moves in the right direction, with a little fun along the way.

1) Reduce the mortgage to less than £83,000 by December 31st 2012:
We started with a mortgage balance of £106,322.34 and I’m pleased to report that it now stands at £99,963!! Woot! I can’t tell you how happy we are to be under six figures!

2) Contribute/save at least £3,000 to our future financial freedom: 
In February we made a pension contribution of £201 and added £138 in cash. Goal total £786.

3) Save at least £1,000 for house repairs:
No change this month.Goal total £73

4) Save £900 for gifts: 
We made a budgeted deposit of £75 to this account, but spent £30 on presents. On track for goal.

5) Save £1,300 for a family holiday:
Added £650 this month. Goal complete.

6) Save £4,000 for a trip to Washington/NY in 2013: 
No change.

7) Save £700 for a mini break to Italy. 
Goal completed and trip booked, however we under estimated the cost and will probably need another £200-£300 for this goal. Saved an extra £54 in February.

Net Worth:
Goal: Increase Net Worth to at least £125k/$200k by December 2012
We spent a lot of cash in February but our mortgage reduction enabled us to increase out net worth by £1,415.89 to £97,851.70.

I was really pleased with our goal progress in February, getting our mortgage balance below £100k was a biggy and something we’ve been working towards for a few months. Now we’ve done it we’re chasing the £90k. That’s the thing with finances: there’s always work to be done! :)

How are your annual goals progressing? Are you tracking them monthly?


8 thoughts on “2012 Financial Goals Report #3

  1. Excellent Progress it’s bloggers like you which keep me on track, thanks…….

  2. I wish I was as organized as you are! I write down goals all the time, but just don’t prioritize them. Perhaps that’s the problem – it appears that I’ll have to change that now I’m going back to school (I love the sound of those words…! :). Regardless, congrats on a great job with yours! Italy sounds lovely. I hope you’ll share some photos when you’re back.

    1. Hi NLA – I’m probably too goal focused, but I’m so determined to move to Portugal – if we don’t hit our goals, then we can’t move..which makes me sad, so I keep going! :)

      I’m so pleased for you – going back to school! Wow!

      Rome photos will be shared probably on Move to Portugal :)

  3. Great job Laura, especially getting your mortage down below six figures and paying for a couple of trips already! Yes, I track my progress monthly and am right on track:)

  4. I’m fairly pleased with my goals from this month and I see you have similar ones too! *high five*

    You’ll get there in record time, especially reducing that mortgage.

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