Jan 23rd, 2013 by Jennifer Lynn
Being trammeled with a zillion distractions also means I haven’t had a chance to establish my financial and savings goals for 2013. How silly of me. Face palm. So to that end, here we are, officially. It’s time to institute some financial goals for the coming months.
I am still a stay-at-home mommy without a reliable income stream and it’s now been well over a full year since I’ve made the decision to walk away from my place of employment, which was not a decision taken lightly. I admit that sometimes the lack of a steady income is disconcerting and for now I’ve been squirreling away every penny imaginable. When I check the dismal balances on my accounts, I try not to break down into wee little sobs.
But in my secret heart I know I’ve made the right decision and, quite frankly, I couldn’t be happier. There simply are more important things to focus on than being a compulsive saver and having gobs of disposable cash. Financially, we are finding ways to make it work by surviving off of M.’s income, we aren’t doing terribly dreadful and thus the situation is tolerable.
So for now: them’s the breaks.
I cherish each day with my darling daughter in ways I cannot even begin to describe with words. Her tender presence really has taught me that there are far more important experiences than just accumulating a rapidly escalating net worth to fart around with on some balance sheet. That seems incredibly basic to write but this, for an anal and financially-enthusiastic oddball like myself, was an epiphany of sorts.
This last year spent with my daughter has been simply incredible; so bizarre and different and exhausting and so, so wonderful. And I don’t regret a moment of it.
But, back to my financial goals.
As a stay-at-home mommy without a reliable income stream, my financial goal is to raise $1,000, somehow.
This has worked out really well in the past so I will shoot for that same goal and will reset my sidebar status back to zero over the next few days to reflect my updated challenge. (For newer readers to Broke-Ass Mommy, here is where you may check the status of my previous financial challenge. I had a lot of fun doing it last time!)
And here is a list of other financial goals for M. and me to knuckle down on:
- Possibly to change our local bank to an interest-bearing checking account. (I do not, however, like dealing with paltry rates.)
- Continue to clear M.’s student loan debt.
- Save the bulk of M.’s recent raise at work. And if we are able to increase the savings in our family coffers by at least $6,000 this year, that would be brilliant.
- Use a teensy percentage of savings for memorable vacation moments.
- NOT TO USE CREDIT CARDS except when money is all ready parked in the bank, so that any balances swiftly will be paid in full at the end of each month. (Cha-ching. Reward points!)
- Continue to stave off impulsive shopping, unnecessary purchases and other financial boo-boo’s.
- Set aside a separate fund for car repairs and, eventually, use the fund for a ‘new’ (ie, gently used, most likely) vehicle.
- Continue to find creative ways to increase my side income as a stay-at-home mommy through various writing projects, participation in focus groups, etc. (A few months back I qualified for a focus group on lip balm and found the experience different but enjoyable, and it paid really well!)
- Accumulate more points on my American Express card, potentially to be used for mileage to visit family in Hawaii.
- Keep available credit across all of our credit cards below the 75% threshold.
- Carefully track all of our weekly spending.
So here goes the savings parade, folks, and hopefully it’s contagious. What are some of your upcoming financial or savings goals for the coming months?
In unrelated news, I am gleefully looking forward to some dessert brownies that M. brought home as a small but unexpected treat. Now excuse me while I chomp my way into a food coma.