2012 Financial Goals Report #8

There’s a few things going on around here and goal changes are needed;

  1. Reduce the mortgage to less than £83,000 £80,000 by December 31st 2012. We started this year with a mortgage balance of £106,322.34. After making a few over payments the balance is now £89,620.82. Yay! But with our planned house sale (and the repairs needed before hand), we may not make this goal. I haven’t given up on it, but below £85k may be more realistic. 
  2. Contribute/save at least £3,000 £2,500 to our future financial freedom. Total added to goal in 2012 £1,608 (pension contributions)
  3. Save at least £1,000 £4,500 for house repairs. Ongoing. 
  4. Save £900 for gifts. On track with a monthly saving of £75 (which we’ve now bumped up to £90)
  5. Save £1,300 for a family holiday. Goal completed and trip booked.
  6. Save £4,000 for a trip to Washington/NY in 2013. Goal on hold as we need to pay approx £4k for house repairs.
  7. Save £700 for a mini break to Italy. Goal completed and trip taken.

Financial Freedom Goal: £300,000 Net Worth by December 2020

  • We expect our cash holdings to go down after paying for the house repairs, but the work has to be done before we can even think about selling our house. 
  • We still have £191,340.96 to go to achieve our long term financial freedom goal and that’s making two big assumptions 1) the house sells 2) the house sells for £175k!

How are you doing with your long term financial goals?

♥ Subscribe by Email | Subscribe by RSS | Follow on Twitter

2 thoughts on “2012 Financial Goals Report #8

Comments are closed.