It’s April 2nd. You know what that means, right? Time to reevaluate my 2012 financial goals! Overall, things are going well. There’s been a few small missteps but I think I’m on the right path to meeting all my goals this year.

Did you sent any financial goals for this year? How is your progress?

2012 Golden Rules

• Absolutely, positively, no credit card usage allowed.
• No sweat.
• Any and all tax returns, bonuses, or other windfalls (wishful thinking?) are to be applied towards credit card debt.
• I received a bonus and a tax return – 100% of the bonus went towards credit card debt and 100% of the tax return went to paying off my Mac.
• Any money made from blogging will be deposited into the emergency fund.
• I haven’t made a red cent blogging this year, so this hasn’t been an issue.
• No new purses. No exceptions.
• Oops. Won’t happen again.

2012 Financial Goals

• Pay computer in full. (I broke down and bought an iMac after Christmas. Part necessity, part impulse.)
• I’m on track to pay my Mac off before the 0% expires in July. Yeah!
• Double emergency fund, bringing total to $6,000.
• I’ve increased my emergency fund balance by 10% this quarter. Once my Mac is paid off, I’ll begin making flat monthly contributions.
• Reduce credit card debt by 25%.
• I’ve decreased my credit card debt by approximately 5%. I’m snowballing debt, paying the most on the card with the highest balance, so I’ll be increasing payments once the Mac is paid. Paying that first credit card balance this year will meet my goal of paying off 25% of my total credit card debt.

Happy New Year!

I spent the morning contemplating my 2011 financial year in review and deciding what I want to accomplish in 2012. Even though I’m pleased with my progress this past year, I realize now that I set my goals too high and became discouraged along the way, so I decided to do things a little differently this year. First, I wanted to establish some golden rules to help guide me through 2012. Then I chose three big (but attainable) financial goals to work towards. I’m hoping this big picture approach will help me be more successful in achieving my ultimate goal of being debt-free.

2012 Golden Rules

• Absolutely, positively, no credit card usage allowed.
• Any and all tax returns, bonuses, or other windfalls (wishful thinking?) are to be applied towards credit card debt.
• Any money made from blogging will be deposited into the emergency fund.
• No new purses. No exceptions.

2012 Financial Goals

• Pay computer in full. (I broke down and bought an iMac after Christmas. Part necessity, part impulse.)
• Double emergency fund, bringing total to $6,000.
• Reduce credit card debt by 25%.

Do you have any financial goals for 2012? Any advice for me? Please share!

As I’m working on my financial goals for 2012 (I’ll be sharing them in the new year. I hope you will, too.) I thought I’d review my 2011 financial goals. You can follow my progress throughout the year with these posts:

• Q1 update – optimism abounds!
• Q2 update – a reality check is given.
• Q3 update – a somber update.

After reevaluating, here’s what I planned to accomplish in Q4:

• Pay Chase (1 of 3) down by 50%
• Continue regular contributions to 401k
• Increase emergency fund to $4,000

Here’s how Q4 really played out:

• Paid Chase (1 of 3) down by 25%
• Continued regular contributions to 401k
• Held emergency fund stead at $3,000

All in all, not a bad year! In total, here’s what I accomplished:

• Established an emergency fund of $3,000
• Maximized 401k contribution at 4% with company matching
• Paid auto loan (1 of 2) in full
• Reduced credit card debt by approximately 30%
• Finalized divorce and separated finances

How was 2011 for you? Are you in a better place financially now than you were in January?

I’m broke. Way broke. Definitely broker than a spoke.

So, I’m going all war-time with a new personal mantra to get me through. I even found a blogger, The Non-Consumer Advocate, who uses the snappy little saying as the theme to her entire blog.

What gets you through the tough times? Do you have an inspirational quote or saying that you focus on?

Use it up,
Wear it out,
Make it do,
Or do without!

Oh boy. Those financial goals I laid out in January are really coming back to haunt me. In April, I gave an optimistic Q1 update. In July, the Q2 update was peppered with a reality check. And here we are headed into the home stretch.

Just like the previous quarters, they’ll be some adjustments going forward. The divorce is almost final, finances are 90% separated, and October is the first month that I’m back to a single paycheck (and an ex-husband that hopefully fulfills his commitment to helping me pay down our joint debt).

Here’s what I had planned for July, August, and September:

• Pay car loan (Corolla) in full
• Pay Chase (1 of 3) in full
• Continue regular contributions to 401k
• Hold emergency fund steady at $2,000
• Begin separating finances and saving independently

Here’s what I accomplished.

• Car loan ( Corolla) paid in full
• Maximized 401k contributions (4% annually with company matching)
• Increased emergency fund to $3,000
• Finances 90% separated

Things have definitely improved on several fronts, but there are still some big goals left to tackle in Q4:

• Pay Chase (1 of 3) down by 50%
• Continue regular contributions to 401k
• Increase emergency fund to $4,000

And if I happen to win the lottery before the end of the year:

• Max out year Roth IRA contribution
• Pay Chase (1 of 3) in full

So, how have you done reaching your financial goals this year? Do you have any goals for the rest of the year?

I knew it was coming, but when this little baby showed up in my mail box last week I thought it deserved a celebration. Half of our cars (meaning one of two – but 50% sounds so much more impressive) are now paid in full!

That payment amount will now be snowballed into the next credit card in line to be paid off by October as part of my Q3 financial goals.

So, I laid out our financial goals in January. In April, I gave a Q1 update. Now it’s time to see how we did in Q2.

Just like last quarter, they’ll be some adjustments going forward. The biggest stems from our impending divorce and how we’re going to handle paying off our debt and separating finances. It’s not fun, but it’s (dare I say) friendly.

Here’s what we had planned for April, May, and June:

• Increase emergency fund to $4,000
• Pay Chase (1 of 3) in full
• Begin regular contributions to Roth IRA

Here’s what we accomplished:

• Emergency fund steady at $2,000
• Began making regular contributions to 401k account

Not exactly what we had in mind, but it’s better than a sharp stick in the eye. Here’s the plan for the rest of the year:

2011 Q3 Goals

• Pay car loan (Corolla) in full
• Pay Chase (1 of 3) in full
• Continue regular contributions to 401k
• Hold emergency fund steady at $2,000
• Begin separating finances and saving independently

2011 Q4 Goals

• Pay Chase (2 of 3) in full
• Continue regular contributions to 401k
• Continue saving independently

And if I happen to become independently wealthy before the end of the year:

• Max out year Roth IRA contribution
• Pay Chase (3 of 3) in full

So, how have you done reaching your financial goals this year? Do you have any goals for the rest of the year?