Slow and Steady – Financial Goals Update

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It seems like it was just a handful of weeks ago that I wrote ‘What’s All The Saving For, Anyway?’ outlining our financial goals for 2013.  Much of the time our budgeting process seems rather uneventful – we’re trying to save each week so we can build money to put towards our Roth IRAs, or Christmas, or new tires.   A little here, a little there.

I thought it was time to revisit the financial goals I outlined in spring.

Goal 1: Increase cash savings by 30% by end of 2013 – Done.  We hit the 30% increase and kept right on going.  We anticipate replacing our siding between winter and spring sometime, and continue to build cash to pay for it.  We would like to be able to pay for the siding and maintain a cushion sufficient to prevent us from having to borrow again.

Goal 2: Fund Roth IRAs to the maximum, if possible – We are 63% of the way to completing this goal.  We have until March 2014 to make contributions, so we may just be able to do this.  We will continue to assess the number of federal furlough days coming in 2014 and make contributions as we get a better picture of what to expect in unpaid days next year.

For us, having a written budget that we look at together a minimum of once a week is the key to making progress on our goals.    I could live without Facebook and Pinterest, but life without a spreadsheet program would be really complicated, and require a much cleaner desk!  If you are new to budgeting “on paper, on purpose” you might want to check out some of Dave Ramsey’s free PDFs.

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