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2009 - financial targets
whitevanwoman
Posts: 351 Forumite
Last year I started a new thread with my financial targets for 2008 - you can see it here :
http://forums.moneysavingexpert.com/showthread.html?t=657733
These are my financial targets for this year. I see a target as being something to aim for - it's great if you hit it, but if you don't, just keep aiming at it and eventually your aim will improve.
1. keep paying a £400 per month to my mortgage (actual monthly repayment is £390 at present so I am accruing a little bit of additional payment each time in case I need an emergency payment holiday)
2. clear argos card - approx balance of £350 so 10 monthly payments of £35 (double the minimum payment)
3. continue to pay £35 month off visa card - current balance approx £950
4. reclaim bank & credit card charges (as per last year)
5. follow up tax credits complaint and claim expenses & compensation (as per last year)
6. open ISA, pay £10 month minimum (as per last year) to rebuild mortgage capital
7. reduce monthly electricity payment through reducing elec use - make better use of insulation, reduce dependence on elec items, investigate solar / wind power possibilities
8. apply for and follow up Warm Front Scheme - have coal fire converted to enclosed stove
9. Business plan for business idea - target start up date Easter 09, aim to be income generating by end of 2009
10. Quit smoking - save approx £1000 during the year (as per last year)
Feel free to post your own targets. Thanks to those who followed last years thread - I hope you've joined me here this year.
http://forums.moneysavingexpert.com/showthread.html?t=657733
These are my financial targets for this year. I see a target as being something to aim for - it's great if you hit it, but if you don't, just keep aiming at it and eventually your aim will improve.
1. keep paying a £400 per month to my mortgage (actual monthly repayment is £390 at present so I am accruing a little bit of additional payment each time in case I need an emergency payment holiday)
2. clear argos card - approx balance of £350 so 10 monthly payments of £35 (double the minimum payment)
3. continue to pay £35 month off visa card - current balance approx £950
4. reclaim bank & credit card charges (as per last year)
5. follow up tax credits complaint and claim expenses & compensation (as per last year)
6. open ISA, pay £10 month minimum (as per last year) to rebuild mortgage capital
7. reduce monthly electricity payment through reducing elec use - make better use of insulation, reduce dependence on elec items, investigate solar / wind power possibilities
8. apply for and follow up Warm Front Scheme - have coal fire converted to enclosed stove
9. Business plan for business idea - target start up date Easter 09, aim to be income generating by end of 2009
10. Quit smoking - save approx £1000 during the year (as per last year)
Feel free to post your own targets. Thanks to those who followed last years thread - I hope you've joined me here this year.
The independent woman's checklist for success :
1. Look like a lady, 2. Act like a man, 3. Work like a dog
Life instructions : 1. Breathe in, 2. Breathe out, 3. Repeat ad infinitum
[strike]2008 - £4k challenge member 063[/strike] gave up halfway thru, not sure I even earned that much, so probably achieved it 
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Comments
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become debt free [about £2,500 down from £7,000] (other than the mortgage)
not take on any unecessary new debts (not as mad as it sounds - I used to think, wow, I've paid x debt off, not considering that I'd built up y debt in the meantime!)
pay back what I 'owe' myself to my savings accounts [£550 down from £1,150]
start my 'emergency' fund (this won't be until the end of the year I don't think, but once this is done)
overpay my mortgage (this is likely to be one for 2010 though)
That's it!
Well that's pretty much a repeat of 2008's, but seeing as what I now owe is mainly because of needing some urgent repairs to the house, which is on 0% being covered by how much my mortgage has come down, and will be paid off before the 0% expires, it's not so bad as it might have been!0 -
Well the big target for me is:
Find a job!
Pay my mum back
Next to pay off atleast £1000 of my overdraft by the end of the year, if I get steady jobs the target is to wipe it clean, which is £1500.
Start saving for my holiday in 2011!0 -
Hi whitevan - thanks for this thread again. This years target is to have cleared all debts apart from HSBC by Dec 2009 which comes to a total of 11218.54.
Good Luck everyone x xPay Debt by Xmas 16 - 0/12000
There is something about the outside of a horse that is good for the inside of a man.0 -
Hi whitevan - thanks for this thread again. This years target is to have cleared all debts apart from HSBC by Dec 2009 which comes to a total of 11218.54.
Good Luck everyone x x
wow! a big target for you then! but then having a big target should make it easier to hit it! good luck & thanks for joining the new thread.
xThe independent woman's checklist for success :1. Look like a lady, 2. Act like a man, 3. Work like a dogLife instructions : 1. Breathe in, 2. Breathe out, 3. Repeat ad infinitum[strike]2008 - £4k challenge member 063[/strike] gave up halfway thru, not sure I even earned that much, so probably achieved it0 -
I hadnt actually added it all up till then! Ive done the sums though and it should be doable - it means paying an extra 15.00 a day on top of my normal payments and remembering to pay the extra money onto another debt once one is paid off if that makes sense! xxPay Debt by Xmas 16 - 0/12000
There is something about the outside of a horse that is good for the inside of a man.0 -
I hadnt actually added it all up till then! Ive done the sums though and it should be doable - it means paying an extra 15.00 a day on top of my normal payments and remembering to pay the extra money onto another debt once one is paid off if that makes sense! xx
It makes sense - once my argos card is cleared (after 10 months) I should be able to pay the money from the argos card payments into an ISA so even if I haven't set up an ISA or paid into one before then, I should be able to achieve that target too, by the end of the year. Therefore by achieving one target actually means I achieve two.
Things seem so less daunting when you put them in writing and work them through.
I'm going to try to keep updating this thread more often this year, than I did with the other one last year. Its such a good feeling being able to say that you've achieved a target. I hope everyone else will too, because seeing someone else's progress gives me a kick in the pants.
Good luck everyone.The independent woman's checklist for success :1. Look like a lady, 2. Act like a man, 3. Work like a dogLife instructions : 1. Breathe in, 2. Breathe out, 3. Repeat ad infinitum[strike]2008 - £4k challenge member 063[/strike] gave up halfway thru, not sure I even earned that much, so probably achieved it0 -
Good idea - we can keep updated and maybe set new targets as they arise (I know I am going to need a new boiler very soon and have no money for that!) x xPay Debt by Xmas 16 - 0/12000
There is something about the outside of a horse that is good for the inside of a man.0 -
Lol. More than 6 months gone past already. So much for keeping this thread up to date.
But only another month and I will have achieved target number 2 and I have been doing target numbers 1 & 3 each month too.
I have definitely achieved target number 7 as my monthly payments dropped from £30 to £22.50 and I keep a very careful eye on my usage by taking weekly meter readings. All lightbulbs except one are now low energy. Much better at switching things off at the mains now too.
Currently working towards target number 9, with ideas from the Up Your Income thread, but not yet generating much extra.
(shamefacedly) Haven't managed to achieve number 10 yet but its on my mind a lot, and have cut down alot.
Anyone else got any targets achieved to report?The independent woman's checklist for success :1. Look like a lady, 2. Act like a man, 3. Work like a dogLife instructions : 1. Breathe in, 2. Breathe out, 3. Repeat ad infinitum[strike]2008 - £4k challenge member 063[/strike] gave up halfway thru, not sure I even earned that much, so probably achieved it0 -
Hi Whitevanwoman - you are doing really well and should be proud of yourself.
I have paid off 7321.42 so far which leaves 8264.78 to have paid everyone but HSBC off. My maths must have been off when I first put the amount on here as I was about 5k out! Slightly behind for halfway but should be able to get close.
I quit smoking on the 22 June 09! x xPay Debt by Xmas 16 - 0/12000
There is something about the outside of a horse that is good for the inside of a man.0 -
Yayyyy!:j Hey Penguin, great to see you again, so to speak.
And cracking news that you quit the evil weed. I think only another smoker can truly realise how much of a massive achievement that is. Very well done :T
And well done too for having paid off so much too :TThe independent woman's checklist for success :1. Look like a lady, 2. Act like a man, 3. Work like a dogLife instructions : 1. Breathe in, 2. Breathe out, 3. Repeat ad infinitum[strike]2008 - £4k challenge member 063[/strike] gave up halfway thru, not sure I even earned that much, so probably achieved it0
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