2013 FINANCIAL GOALS (UPDATE #10)

Things have changes a little this year and in August we made a few changes to our 2013 goals.

New Financial Goals for 2013:

  1. Reduce our mortgage balance to less than £72,000 – Our mortgage balance is now down to £74,700 and we’re creeping ever closer to the 50% milestone. Yay! We’re super happy to have paid off £10,250 in 2013.
  2. Complete and pay for all house repairs – Approximate cost £4,000. Ongoing! All repairs should be finished and paid for by the end of September…fingers crossed. All done, goal completed!
  3. Spend no more than £2,500 on groceries – I spent £287.10 in September! I did quite a bit of stockpiling and sent my son back to university with a lot of staples.  I have £300.98 left for the next two months, quite doable with just the two of us at home. 2013 Totals: £2,199.02/£2,500.

October Net Worth: (£434.58)

Net Worth

We keep getting very close to our 2013 Net Worth goal of £125k……and then moving backwards. I’m sure the latest house repairs/updates have increased the value of our house – we’ve added a new entryway – but for now we haven’t made any changes to its worth on our spreadsheets. Perhaps we should get a current market valuation done.

Further reading: Financial Freedom Goals

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14 Responses to 2013 FINANCIAL GOALS (UPDATE #10)

  1. Econowiser says:

    Wonderful! I’ve also adjusted our goals for 2013.

  2. Congrats on completing the house repairs! And you are so close to your next two benchmarks, 50% on the mortgage and 125,000 on net worth!

    • Thanks Dar! I really don’t like the out NW going down a little but it’s only the everyday cash totals….the mortgage and locked away savings are at least moving in the right direction.

  3. Fiona says:

    I just love how focussed you have been on the end goals no matter what curve balls have cropped up.

    I’m sure it’s only a temporary dip in the NW…it would be interesting to see the difference in NW if you do have another market valuation done after the renovations. Might be a very pleasant surprise :)

    • I hope it’s temporary, but it’s been a funny year in a lot of ways and I’m not counting my chickens lol….best made plans and all that! I’m super happy about your news though :)

  4. Good on you for finishing & paying for your home improvements & stockpiling the pantries of you & your son. It’s tough to make progress each & every month when other things in life demand our dollars (or pounds). I bet you make your net worth goal soon!

  5. Viv says:

    You are doing well with your mortgage – our fixed rate ISA’s are slowly coming to an end now one by one and the interest rate to re-invest is much lower so perhaps now time to pay off some mortgage. The food shopping I find is getting tighter and tighter in that the money does not stretch very far as prices seem to still be on the increase. I didn’t do very well with my grocery shop this week compared with last week – you will read about it soon – have yet to post about this weeks challenges!
    I think it would be worth getting a valuation – prices here are on the rise.

    • The fixed rate ISA rates are half they were 2 years ago but after working it out we’re still better leaving it in them. Houses are selling quite well around here, perhaps it is time to get a valuation.

  6. Laura, after reading this post and the one on your other site, I just keep getting that feeling that you and hubby are so close, so very close. I hope you feel that too and I hope it motivates you to stay strong and stay the course. Cheers – Pru

    • Thanks Pru! Some days I struggle to stay motivated but it really helps that I’m attempting this with the support of others. So we all have to keep going. Thank you for the continued inspiration :)

  7. Well done on decreasing your mortgage balance by over £10k this year! You seem to have it all under control, very inspiring!

  8. SarahN says:

    It must be frustrating to see the dip, even if it might increase the overall value of the place! I know I had to pace my ‘adaptations’ to my place, so I didn’t spend all my savings in one month. It was annoying at times, felt like I was always wishing things done, but it meant I never stressed out too much about having ‘no money’.

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