Wednesday, January 1, 2014

January First

Well here we are back at the first day of another new year.  Where does the time go?  I've had some really good years and some really bad years, but I am happy to report that 2013 was a pretty good year.
The most significant milestone we hit last year was complete debt freedom.  It is a great feeling, but honestly the day it happened was just like any other day.  Perhaps because we knew it was coming.  It wasn't a surprise from winning the lottery, it was the result of a great deal of careful planning.  The thing is, it is kind of unnerving.  It is really cool, but how hard will it be to stay debt free?  2014 is going to be the year we need at least one replacement car and a new roof.  We have a plan in place for the car because we have been saving for over a year.  What about the roof?  Saving for that became priority #1 as of today.  It is going to be thousands of dollars.  :(  Opening and maxing out a Roth IRA was the #1 priority before the end of 2013.  It happened, but not without a great deal of sacrifice.
This is where it gets hard for me.  Don't get me wrong, we have a strong household income, but there is still a finite amount of money to allocate for all of these things.  That is why a budget is key.  I wish that I would have always been smart enough to use one, but it has only been the last few years.  I also believe strongly that it is very important to give back.

So back to my January goals:
1.  Put $500 in my Roth IRA
2.  Add $1000 to our emergency fund (which will be used for the roof in the spring).
3.  Stick to our meal plan.  I would like to come in under $250 in groceries for the month.  It should be doable because our freezer and cupboards are bursting.  This money will be for milk, bread, produce and restocking anything that is free or almost free with coupons.
4.  One last goal that I am going to keep a secret until the end of the month when I report back.  It is not $ related.
5.  Have 12 no spend days.  I already had 1 today!

My goals for the year:
1.  Max out my Roth IRA
2.  Replace car without incurring any debt
3.  Replace roof without incurring any debt
4.  Try to end the year with 4k more in emergency fund than we started the year with.  This is a lofty goal since we will be doing our roof.  We will see if we can make it.


  1. Good luck!! It sounds like you are on track for making it happen. We just did a brief look at last year finances and we came out ahead with a lot of hard work. I have to go back and double check all the formulas and math in the spreadsheet but that is exciting. I told my husband about the Roth IRA and he agreed that we really need to get to doing one too :)