2013 Financial Goals (Update #1)

It may seem early to be doing an update on our 2013 Financial Goals, but our annual budget runs from December to November, and so we’re already one month into working on our goals.

And what a month it’s been. I feel very blessed. We were extremely happy when hubby got news of a work bonus reward just before the holidays. It was totally out of the blue. Even more so because we were convinced 2012 was the year he was going to be let go. But thankfully the opposite happened and he got rewarded instead………though he could still go at any time as his company seems to be on a 6 month culling cycle!

The bonus really kick started our 2013 financial goals (which are all part of our five four year plan to eventually move to Portugal).

Goal Portugal

5 Financial Goals for 2013:

  1. Reduce our mortgage debt by at least £25,000. This is our main goal for 2013 and one that we plan to attack over nine months (March – November inc.). Made a small over payment in January and we’re now £478.57/£25,000.
  2. Save at least £4,500 for travel. We hope to take at least three trips in 2013, but only if we can save this money. Added £2,446 to our travel fund in January, although we have spent a.lot of it ;)
  3. Increase our cash savings by at least £2,200. The start of a deposit for a potential house purchase. Goal completed and future house/apartment fund started :)
  4. Make at least £2,500 over and above our regular income. Extra money earned to pay for further house repairs. For this goal I’m counting blog income, cash back, overtime and money from any sales. December: £97.20/£2,500
  5. Spend no more than £2,000 on groceries. This will be an ongoing challenge throughout the year, but I’m hoping a fully functioning stockpile will help!  I’m determined to achieve (and even reduce) this goal in 2013. £262.21/£2,000

 

So happy with our progress so far. Now to stick at it for another 11 months!

Comments

  1. Fiona says

    That is GREAT news :) The numbers always “talk”…fantastic to see such a great start to the year! Great motivation to keep it going!

    • Laura says

      Thanks Fiona! Knowing we can complete most of the work on our house this year, without it affecting the mortgage over payments, is great :)

  2. savingfortravel says

    Fantastic Goals Laura! Keep attacking that mortgage!

    And good luck with the grocery budget and stockpiling.

    Sft x