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2009 Goal Update

January 10th, 2009 at 11:42 am

Last year was a great year in many ways except the market of course which I will not talk about. We we were able to saved $12K for our EF and reduced our debt significantly. We paid attention to monthly spending plan which include everything and avoided the use of our credit cards completely. We also established both our term insurance at work.

This year, we will continue putting money towards EF, Roth, and vacation/gift fund. But our main focus this year is to pay off our van which we still owe about $12,298.15. I just made $1000 payment last week. I'd like to pay that off by November if not sooner. That will clear $700 a month extra towards savings & retirement contributions, and some for home repair costs.

Several things will be happening next month. DW will be traveling to the Philippines to visit her family and friends for two weeks. She saved about $4K last year. She's looking forward for this trip, while I will keep the fork. But I'm glad her aunt and my parents volunteer to help me since I will not take any vacation.

We also anticipate to owe the IRS this year about $1K, first time in our 5 year marriage. We also anticipate to do some remodeling, repainting in our family living rooms. Redecorate the kids rooms and also minor wall repairs. Our kids totally trash our walls and made existing holes even bigger. Oh yeah! We bought a new CalKing bedroom when our kids pretty much destroyed our footboard and rails connecting to it. That was $698 plus insurance coverage, just in case.

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