03. 12. 2013

I’m wrapping up our 2013 goals in order to clear the decks for our 2014 budget!

Financial Goals for 2013: (Goals updated in August)

  1. Reduce our mortgage balance to less than £72,000 The final balance on our mortgage for 2013 is £73,500. Our original goal was to reduce our balance by £25,000 – we managed £11,450. Way off goal, but still progress :)
  2. Complete and pay for all house repairs - Approximate cost £4,000. All done and goal completed, although we’ve spent £8k+ this year.
  3. Spend no more than £2,500 (originally £2,000) on groceries – 2013 Total: £2,614.34/£2,500 a monthly average of £217.86


Ongoing Net Worth GoalIncrease NW to £125K in 2013 



We sneaked in!

We don’t include pension savings in our NW as we both have (now frozen) Final Salary Pensions. However following a recent pension change, we now have online access to my husbands (new) scheme and will be including this in our NW going forward.

2012-2013 increase: £14,539


Overall it’s been a very good year for our finances and we’re very grateful. Thank you for your continued support xoxo

2014 Financial Goal: Reduce our mortgage by £15,500


In 2014 my husband & I downsized our home to speed up our quest for Financial Freedom. We swapped our large three bed house, for a small two bed apartment to clear our mortgage and give us enough budget freedom to travel and still save for the future. Our dream, after achieving Financial Freedom, is to spend part of every year living abroad.

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13 Responses to “2013 Financial Goals (Update #12)”

  1. Laura, I’m happy for you – what a good year!

  2. That’s great that you hit your net worth goal for 2013 already! That’s fantastic. Our NW goals are going off my birthday, due to the title of my blog….I’ll have to check to see if we’re trending toward where we need to be in August.

    Congrats again!

  3. Great year Laura! Looking forward to following your journey in 2014. Here’s to continued overpayments on the mortgage!!! ~ Pru

  4. Lena says:

    Sounds like you had a great year!

  5. Fiona says:

    I’m really looking forward to following progress in 2014 as well. I didn’t realise the house repairs added up to so much – you’ve really done well to get everything done on the house as well as the mortgage payments!

    • Thanks Fiona! Our house is nearly done with the major repairs but it’s certainly something to think about in the future as we’ve spent £14k+ in the last 3 years….too much to spend if it was ongoing. Time to downsize! :)

  6. dojo says:

    You’re clearly going strong and had a good year. Wish you an even better 2014 ;)

  7. Looks like you had a wonderful year! Congratulations on hitting those goals, and good luck in doing the same for 2014!