Finance Snack: 2008 Financial Goals Update

Crystal @ MoneySavingMom is sharing her financial update for July so I thought I would share this quarterly update of our 2008 Financial Goals. We are still aggressively focusing on #1 – Paying off ALL consumer debt. Until we reach that, we don't want to tackle the other stuff yet. As I reported here in April, we paid off 25%! We are still working on the remainder.

I'm hopeful that this month, we will have the “everyday” card paid off completely and really focus on using cash more and more. This would take our total debt remaining to 50%. I'll definitely keep you informed with that card is gone! We will then have one card to focus on, and our goal is to have that paid off by September, but I think that date is looking to change to around the new year (or by Christmas – wouldn't that be a great Christmas present to us!).

And, a little report on holidays. When I opened up that Chase checking/savings account, I have been depositing all my little snowflakes into that account. So, we will have our Christmas monies taken care of! We have never had a Christmas budget so this will be a first for us – we used cash a lot but having an actual budget really makes me feel good about enjoying buying for our loved ones!

The one thing I'm sure you can see is that this takes time! I don't want to go “gazelle” intense and get burnt out fast. We're making lifestyle changes as we go and ridding ourselves of that nasty debt so we can have a more secure financial future!

That's all to share at this point. I will definitely snack on the debt continuing to go down so we can really find joy in the goals we're accomplishing!

by Savings Lifestyle: Andrea on July 10, 2008

3 Comments

  • Mrs. Querido - July 10, 2008 @ 7:29 am
    1

    Congratulations on your progress! The first step is the hardest, in my opinion. We are still working on paying off our van that we had to get when we discovered our baby girl was on the way. Impossible to fit three carseats in the back of a Toyota Corolla 1986…lol! Gazelle intensity has its place, but then there is something to be said for just plodding along. We’re in the plodding stage too!

    Blessings!

    Mrs. Q

  • Marcy - July 10, 2008 @ 11:28 am
    2

    I feel like I am on the “slow and steady” train as well! :) I think whatever it takes to keep the momentum going in the right direction is what you should do. I don’t want to burn out either. Sounds like you guys are making great progress! Congrats on your accomplishments thus far.

    Have a great weekend! :)

  • Tara - July 10, 2008 @ 2:55 pm
    3

    I love your blog–thanks for sharing your journey. We are rebuilding baby step 1 due to some Murphy issues, but are looking forward to baby step 2!

Leave a Comment