As we are now over halfway through the year, I thought it was about time I gave a financial goals update on the goals we set for ourselves at the beginning of the year.
Setting goals is a great way to motivate yourself and get things done.
Checking in on your goals will also help you adjust if necessary and see how far you have come in meeting your goal.
We set four financial goals at the beginning of the year…let’s see how we are doing so far.
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1. Use cash only for groceries and eating out – the two biggest budget busters for us.
Update: Whomp Whomp. This has been a huge fail!
I have only taken out cash a few times for groceries this year and probably zero times for eating out.
In full disclosure, we have actually already spent more on groceries this year than we did in the same time period in 2016.
So I think it is safe to say that we need to get back to cash only for groceries.
I think, unfortunately, having a baby made me a little lazy.
Reduce overall spending on gifts (birthdays, weddings, Christmas, events).
Since implementing our gift budget, we have spent more than half of what we had spent at this time in 2016.
This, combined with making sure we budget each month has really helped us in keeping up with this goal so far.
Track each and every purchase made in detail aka WHERE is our money really going?
While we won’t truly know how helpful or successful this goal is until the end of the year when I am doing our yearly summary, so far I have been almost 100% on keeping track of all of our expenses, including what exactly what we bought for the more vague categories.
Pay off at least 2 student loans by the end of the year.
Update: No success in this so far, but there is still plenty of time to reach this goal.
It seems like as soon as we are able to come up with extra money or make extra money, something else comes up that we need to pay for before putting extra money towards debt.
If anyone has any tips on getting the ball rolling (faster) on paying off debt, in the beginning, I would love some advice!
Did you make any financial goals this year? How are they coming along?
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