New Years financial resolution

[Virgderon]

I don't usually do resolutions. I'm happy with how I handled my money in 2010, but maybe making a financial resolution and making it public will help me achieve it.

Soooo....

I resolve to save an extra $100 a month toward my savings cushion account. Too many times I need money for a car repair or something like glasses and I just don't have it.

I resolve to say no to my adult children. We are paying for all their cars and car insurance, rent and living expenses for one, and living expenses for 2 others. We need to stop.

Do any of you have one? We can revisit this thread at the end of the year and see how we did.

Happy New Year- a safe and happy one to all.

 

[MickeyMomOfThree]

Well, as you know my No Buy Friend, my NYresolution for this year was to do a year of No Buy, and I did. I recorded every penny I spent for a full year (except for on vacation.) I am not sure what my financial goal is this year, but yo uhave me thinking. I will give it some thought and post back.

 

[Forevryoung]

I resolve to open up the 403B my company offers by the end of Jan (I've been there 8 months... been procrastinating).

I resolve to meet with my parent's financial planner and figure out the best way to organize my savings/investment accounts (he's also my neighbor).

I really want YNAB software to better track but it really bugs me to spend the $60 on it. Currently I just use Excel but YNAB seems like it would be easier.

 

[minnie1928]

My goal is simple...to save more than we did last year. In 2010 we completed our 6 month emergency fund and fully funded DHs 401k. This year will again be the 401k plus whatever else we can save. I currently have our savings in a savings account, but I think our "new" savings will be going to a mutual fund at T Rowe Price...I just need to research the funds and pick some.

 

[StitchBuddy]

My goal is to pay off my house. I am not sure if we will make it, but it should be close.

 

[worm761]

We are paying off his alimony this year. We went over the divorce papers and it states that we can pay it off at any time. So, we will pay it off, in full, this year and she will be gone forever!

 

[goodeats]

We have a few:
1) Re-do budget to incorporate DH's raise (yay!) and having no more car payment (double yay!)
2) Write will and perhaps set up trust for DD
3) Meet with fee based financial planner
4) Most importantly re-finance rental property

 

[DawnM]

Wow! That is awesome!

My goal is to pay off my house. I am not sure if we will make it, but it should be close.

 

[DawnM]

I have YNAB now and am accounting for all spending....I need to do it diligently from Jan. 1 to Dec. 31 in 2011 (just got it in late Oct).

Cut $100-$150 off of our monthly grocery bill.
Sell items we don't need, purge!
Save an additional $200-$300 per month and work towards a FULL year's funded emergency fund (currently at 6 months)

 

[minnie1928]

I have YNAB now and am accounting for all spending....I need to do it diligently from Jan. 1 to Dec. 31 in 2011 (just got it in late Oct).

I've been using Quicken to do this for a LONG time (15+ years) and once you get in the habit of doing it, it really does make things much easier. When I still carried a checkbook (don't any more), my friends were always so confused when I'd show them that I don't keep a balance in my checkbook. I'd say that everything I need to know is in my Quicken file (and then some!). I knew how much money I had, how much I was going to have, and where I spent it or was going to spend it. Tracking all your money makes planning SOOOO much easier.

 

[DawnM]

DH tried to use quicken early in our marriage and I was NOT ready for the budgeting! We both worked full time and we had a healthy income and I just didn't see the need, in fact, I felt he was being overly controlling.....so he quit doing it.

I am now on board with the whole thing, but the thought of quicken brings back some bad memories for me! hahahaha!

But, YNAB is more my speed and easier for me to work.

Dawn

I've been using Quicken to do this for a LONG time (15+ years) and once you get in the habit of doing it, it really does make things much easier. When I still carried a checkbook (don't any more), my friends were always so confused when I'd show them that I don't keep a balance in my checkbook. I'd say that everything I need to know is in my Quicken file (and then some!). I knew how much money I had, how much I was going to have, and where I spent it or was going to spend it. Tracking all your money makes planning SOOOO much easier.

 

[3goofyboys]

My financial goals for 2011 are:
1) Pay off our car, start putting the car payment in savings so we can pay cash for our next car.
2) Pay off our 2nd Mortgage
3) Keep on saving!

 

[sookie]

if you let me know how to refinance that rental property let me know. i looked into it and it looked like i was going to get SCREWED!!! lol i have another thread that died out - but that is one of my to do's this year too.

 

[Planogirl]

We will be getting rid of a huge debt in February (finally!) and I resolve to get rid of all other debt besides the house and one car. I also want to build up a savings account for emergencies.

 

[Gr8t Fan]

Ours are to continue accelerating our mortgage payments (only 17 more payments to go) and to really consider all purchases, so they bring enjoyment and don't add more clutter to our lives.

 

[hffmnheidi]

My financial resolutions:

1. pay 3,200 extra on my student loan this year, leaving me only 2,000 or less to pay on just that and then that one will be gone(leaving me only one to pay with a 26,000 balance since it was a consolidation loan)

2. Get a Roth IRA opened up, even it's only 5 or 10 dollars a month because I have to have something

3. Pay cash for everything and no credit cards(unless neccessary for reservations, ect)

4. Finish paying off credit card debts I owe to my parents(like 800 dollars for the last year while I was out of work)

5. Once all this is accomplished, I want to quit worrying about money/finances since stress is not good for me

 

[BoogasMom]

My DH and I just discovered Dave Ramsey's book and are currently at baby step 2...paying off all debt except for your mortgage.

Per my written plan, and barring any unforseen financial disasters this year, we will have all debt paid for by March of 2012, including both vehicles. I'm so excited! We have already paid off one small loan in December and it felt so good.

BTW....what is "YNAB"

 

[nelle]

1. Save more money! We are one of those people who have a large income and no savings and no clue where it all goes
2. To help #1 BUDGET!
3. Organize
4. Get rid of stuff we don't love or need.

 

[brymolmom]

Three things for me:

#1 - Start better tracking DOCTOR expenses. I'm not sure if anyone else is like me - but I get the bills in the mail check them quickly to make sure it's one of our doctors and a reasonable request - then PAY IT!! They could be charging too much or double billing me and I likely would not notice at this point. I am going to start keeping DETAILED information in a DOCTOR APPOINTMENT/PROCEDURE notebook. I'm going to be ASKING at each procedure whom I should be expecting a bill from (the doctor him/herself, the location where procedure is performed, etc.). And then, as I receive each bill - I will be notating it under the appropriate date of appointment/procedure. Not sure I'll actually save anything - but will make me feel better to not just blindly pay those bills.
#2 - Try for better grocery budget. The main issue here is dh is not fully on board. But I will again try to set a weekly amount and hit grocery store ONCE a week (or 10 days) except for a stop or two for bananas, strawberries, milk and bread.
#3 - Pay off car (we have the $$ just haven't done it yet) and then take that payment and stuff into account and NOT TOUCH IT. This will be the hard part as I'm already in the habit of pulling out of that account as needed. Would like to have $3000 or so toward our next car saved by the end of 2011.

 

[Keira1387]

My DH and I just discovered Dave Ramsey's book and are currently at baby step 2...paying off all debt except for your mortgage.

Per my written plan, and barring any unforseen financial disasters this year, we will have all debt paid for by March of 2012, including both vehicles. I'm so excited! We have already paid off one small loan in December and it felt so good.

BTW....what is "YNAB"

YNAB= you need a budget