Monday, December 27, 2010

How did I do on my 2010 Year end goals?

There were a lot of goals that I posted way back in August. I didn't even post my Yearly goals in January like most folks do. Let's see how I've measured up.


1. Have $800 in e-fund account. DONE (3 year goal is $12,000).
~ I did, over the course of the year, manage to put over $1000 into this account. But then, in October, I was no longer bringing in an income, and the bills still needed to be paid. Good note: at least there was some there for us to use so we didn't have to turn to credit. Bad note: most of this money is now gone.

2. Have $1800 in RRSP account.
~My RRSP account is sitting at $1050. It's a little over half way to my year end goal. Good note: I finally started to save for my retirement. Bad note: This money is just sitting in a bank account, earning me next to no interest.

3. To have $1000 buffer in personal chequing account.
~ I did actually achieve this goal. But this money is now also gone. We are likely going to have some lean months ahead until the next contract comes in. Must learn how to use the strategy of living off last month's income.

4. Have $2000 saved in vacation account. (DONE)
~ We did save, and spend this money as planned. Our trip to Prince Edward Island was awesome.

5. Have $1100 in Xmas account.(DONE)
~ We saved and spent this money as planned. Definately going to need to increase this amount for next year. Good note: No credit. Bad note: didn't save enough.

6. Have $2000 in auto repair/replacement fund.
~ While not saved ahead of time, we did spend this amount of money on vehicle repairs this year. It came from our regular budget, so again, no credit used. Have to start savings again for this account to be replenished before the next round of major vehicle repairs is needed.

7. Pay off $1000 of $5600 of credit card debt.
~ I am certain we paid off more than $1000 of debt ($934.85 alone was paid on one debt in December). I am also certain we paid off more than $1000 on the outstanding credit card debt. ($3663.89 paid as of our most recent statements.) We are also continuing to make payments on our other debts. Good note: Our overall debt is decreasing. Bad note: One credit card debt has a very high interest rate, so it's taking longer to pay down.

8. Open saving accounts for both children.
~ Epic fail on my part. I have wanted to do this for awhile, and have yet to do it. There are still 4 days left in the year, so I could still meet this goal.

9. Stay current on monthly bills.
~ So far, so good. However lean months are still coming, and we're out of savings. Hopefully earnings will start increasing to make up for it.

10.Pay $3500 to lawyer and obtain divorce from ex-spouse.
~ Epic fail again on my part. I plan to tackle this head on in the new year. It's rising toward the top of the priority list.

Other things I wanted to work on:
~ switching DD's allowance to 40% into long-term savings; She got a Moonjar for Christmas, so we will be reworking her allowance budget this week while we're reworking our 2011 goals.

~ reading 100 books this year; I stopped counting somewhere around the 25 book mark, and I know I have read many, many more since then. It doesn't really matter to me if I read 100 books, only that I made time for myself to read for enjoyment.

~ keeping up with personal spending plan; Using a spending & saving plan has saved me countless headaches over the course of the year. There weren't that many surprises as we had accounted for mostly everything. But there were one or two things that almost threw us off track.

Overall, I think we haved done well in taking control over our finances in a more tangible and concrete way. We have less diifculties with our money, and a lot less sleepless nights. We have a plan, and although its not as strict as it could be, it seems to be working for us. For the next year, I have set our savings and debt repayment goals higher, so that we feel a bit more restricted with our spending. It will spur me on to find less expensive ways to fufill our needs.

This holiday season has been one of joy and indulgence. Now I'm ready to start tackling the New Year with new goals in mind.

Are you ready for the New Year and new goals?


  1. While you may not have hit all of your goals, I think you did very well. You had a goal, a plan and a method to the madness that came through wonderfully in several areas, particularly staying currenton your monthly bills. I think that is a great success. Here's to a wonderful 2011.

  2. Sometimes life doesn't go exactly as planned, I think sometimes 'smaller' goals are better. I think i'm almost ready with my goals for 2011... don't want to overdo it either, so i'm planning carefully!!