I have
some big financial goals I want to meet this year. In order to make that happen we need to be
extra thrifty this year. That means
instead of pinching those pennies once I'll be looking for new and better ways
to pinch them two or three times.
I have
mapped out my monthly expenses, planned some savings goals and set up my income
goals. In preparation of these goals I took
on another bookkeeping client back in November bringing my total client list to
two. I plan to continue with my online
eyewear sales on eBay, of course, but I am not sure about whether or not I will
continue with my Etsy store. I'm still
thinking about that.
I
cleaned out my wallet and my purse to get ready for 2014. In my wallet I have my debit card and some
cash, I put my change in my change jar, and all of my credit cards are put away
for safekeeping only to be used in the case of an extreme emergency. I am praying we don't have any of those this
year.
I plan
to track every penny spent on a daily basis.
I will be keeping a spreadsheet and a running tally so I know for sure
what is coming in and what is going out.
I will also be setting aside funds for big expenses, like my annual
insurance premium renewal in November, the girl's birthdays in November and, of
course, Christmas.
Having
an emergency fund set up for unexpected expenses is one of my big goals this
year. I am hoping to establish the base
of this with part of my tax refund and then continue to add to it every
month. I am also praying we won't need
to tap into it very often this year. Not
at all would be awesome, but I'm realistic.
Something is going to happen.
A
family meeting was held and the girls voted for tiny house living for at least
the next 18 months, much to my surprise.
They love their schools and the fact that we live closer to our friends
now. This is extremely important to them
right now. We also love our neighborhood.
Have
you set any big spending or savings goals for yourself in 2014? How are some ways you plan to save money this
year?
An emergency fund is a great thing to have, especially with kids in the house! I am trying to sock away at least $5K in my TFSA and I need to start saving for our "summer fun" as we're going to host another Japanese girl this summer as we soo miss "R"... so need to work out that goal as well! lol! Good luck with you budget! :)
ReplyDeleteSo excited for you and your family to host another girl this summer. I want at least that much in my emergency fund as well, not to mention retirement and regular savings goals to meet. Also, I owe my kids a trip to Disney Land. Seems overwhelming but not unattainable.
Deletewe do have a big financial goal that we think we can make in 3 years. I am spending so carefully and currently doing a freezer challenge with way too much food in our freezer.
ReplyDeleteI am glad you and your girls are happy for now in your little quarters. I would think if you can be happy in the winter in a tiny home, you can be happy just about anywhere.
It always amazed me how I could fill up a freezer and pantry with way too much. But I was always glad to have it. Made pantry challenges fun anyway. Made me mad though when I found things I forgot about that were freezer burned. A freezer challenge every now and then is a good thing. :)
DeletePlanning your finances is a good way to start the year. It can be a bit challenging, because it won't account for sudden expenses and such. But I think it wouldn’t be a problem to you because you’re very organized, and you can always prepare for it by adding an emergency fund in the budget. And the spreadsheet is smart move, because it will make tracking all of your expenses and income that much easier. Cheers!
ReplyDeleteRebecca Cross @ Advanced Accounts