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2021 Goals

December 28th, 2020 at 09:19 pm

The goals for 2021 are a bit harder for me. We finished paying off our non-mortgage debt and now that we are onto savings I am a little unsure about what our priorities are. Although I've always had 5 goals a year I can only come up with 3 for now. I may add more later. 

 

Goal 1.) $3,500 for medical OOP max

We already have $4,500 being saved into our HSA but we want to save the remaining $2,500 for our OOP max plus an extra $1,000 for an uncovered medical expense. 

Goal 2.) Regrade the yard and install water heater

This is been a waiting project for almost two years now. We have the money set aside and I'm just waiting on contractors. The water heater is supposed to be installed next week.

Goal 3.) Go on vacation

We aren't sure where or when yet, but we want to take a vacation and pay cash. Approximately $3,000. 

 

December / End of the Year Check In

December 28th, 2020 at 09:12 pm

Debts

Mortgage -$121,847.13 (-$231.68)
Medical Loan #2 $0!! (-$4,100)

Savings

Roth IRAs +$18,633 (+$426)
401K +$34,945 (+$795)
Emergency Fund +$7,514 (-$1,017)
Animal Fund +$209 (-$0)
Truck Fund +$1,805 (-$0)
HSA +$416(-$2,358)

Overall: +$2,177.68

I was able to pay off my last medical loan which means I am debt free besides my mortgage and also completed all my 2020 goals!! This is the first time I have been able to accomplish that which I think is astounding since this has been such a terrible year. 

I think we plan on resting for a month or two and saving up for a few smaller home projects and then we will begin saving in earnest again.

I will be working on and posting my 2021 goals soon.

*****
New website that will showcase personal finance blogs is up and you can now make accounts.  I took a break from working on it over the Holiday but will be picking it back up soon. https://budgetbloggers.com/

If you have and suggestions on things you would like to see let me know. 

WWYD? Loan Payoff

December 16th, 2020 at 09:09 pm

Long story short I have $1,100 left on the 0% interest medical loan before I am debt free. (besides mortgage)

My stretch goal was to pay it off this year but it looks like I am going to be about $800 short. I have over $8,000 in savings to regrade our yard and install our new water heater. Cost estimate for that is $6,000ish, and I won't need to pull it for at least two more months, but I also know projects always seem to cost more than expected. I'm itching to borrow the $800 from there and pay off the loan this month. I would then use the next couple months to build back up my buffer. Any logical reason againist that or should I just pull the trigger? 

I am SUPER excited to be able to save money every month instead of putting a sizable chunk towards a loan payment!

November Check In

December 4th, 2020 at 07:33 pm

Debts

Mortgage -$122,078.81 (-$231.13)
Medical Loan #2 -$4,100 (-$600)

Savings

Roth IRAs +$18,207 (+$1,827)
401K +$34,150 (+$3,833)
Emergency Fund +$8,531 (+$247)
Animal Fund +$209 (-$729)
Truck Fund +$1,805 (-$225)
HSA +$2,774 (+$250)

Overall: +$6,034.13

Markets are crazy up. Had a car repair and bought some animal feed for winter. I already paid a huge payment on the medical bill for December and fingers crossed I will be able to pay it off this month and be debt free for the new year. 

*****
New website that will showcase personal finance blogs is up and you can now make accounts.  https://budgetbloggers.com/

If you have and suggestions on things you would like to see let me know.