Our annual budget runs from December to November and I'm tracking our progress throughout the year.
How are you progressing with your 2013 goals? Is everything going smoothly? (Please let someone be having a smooth year!)
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.).
We made an over payment of £1,221.45 on July 1st which takes our mortgage reduction to £8,250 in 2013. We're still very behind on this goal and reducing our mortgage by £15k in 2013 looks far more realistic, but we'll keep going.
2. Save at least £4,500 for travel. Goal completed.
We hope to take at least three trips in 2013. We're taking two trips in 2013. No extra money added to this account last month as all trips are paid for and spending money is saved. This goal is now finished. Money needed for trips: £3,732.92 (£1,000 left for spending money). Money saved £3,951. Extra money transferred to another account.
3. Increase our cash savings by at least £2,200. Goal completed. The start of a deposit for a potential house purchase. Goal completed and future house/apartment fund started....although, due to the financial climate in Portugal right now, we can't see ourselves buying there for a (very) long time.*
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. Earned an extra £351.93 in June, bringing this goal to: £1,420.64/£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.
Not too bad in June - I spent £180.00. Running total = £1,403.65/£2,000. To stick to this goal I'll need to keep my grocery spending under £120 for the next five months (and B is home from uni for the next three months!!)
Net Worth Update: Goal £135,000 by 31st December 2013
(All figures £££ not $$$)
(House and cash only - pensions not included)
How did you do with your goals in June?