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.
Hurrah!
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.
=^..^=
Looks like you have some solid goals, Jennifer! Our main goal for the year is to get back to actively saving for retirement as we were not able to last year in growing our business. On a side note, your happiness is MUCH more important than being a crazy saver. Plus, that time with your little one is priceless.
Looks like you have some very attainable goals. Any ideas where you might go on vacation?
I am digging your plan. It looks like you have it all figured out, Jennifer. I wish you luck and enjoy that food coma.
Great goals! The raise money will be very sweet, that’s for sure. And I have no doubt you’ll find creative ways to make money, have you looked into staff writing for PF blogs?
I have considered looking into staff writing, Pauline, probably in February. On top of all of your other projects, do you currently staff write? Unfortunately I am just unsure of commitment requirements at this time.
Very good goals! As for attaining more points on your American Express card you should REALLY look into getting a blue bird account and purchasing american express vanilla reload cards to pay your rent or mortgage. My wife and I started doing this and we literally get thousands of points every month that we normally wouldn’t be able to get.
Love your goals! Good luck!
Good for you, Jennifer, for addressing your goals like this. You sound like you know where you want to go and how you want to go about getting there. This year we want to finalize paying off this mortgage and invest more in retirement whilst renovating. Oh ya, dream big they say. Not sure how much we will accomplish but that’s the plan. Good luck mate. P.S Did I mention I fancy brownies of all kinds.. check my pinterest lol..
Good luck with your goals! A trip to Hawaii sounds awesome
Solid goals, I think a trip to Hawaii would be a great payoff for sticking to them!
There’s always a way to make a living with this wondrous internet beast that has been bequeathed to you by all those baby-boomer geeks. I’m sure you will achieve your goals and more. Good luck!
Good luck with your goals. Being with your baby is worth more than money in the bank.
Good luck with those goals. Have you made any plans for reaching that $1000 online income, like possibly writing an ebook?
You’ve set some important goals. I think your decision to stay home with your baby was a very wise one. They are only young for a short period of time. Hope you enjoyed the brownies!
I was also going to mention to look into staff writing. I write for 3 other blogs besides my own (and having a full time job.) The time commitment isn’t great, some months it’s more than others just trying to come up with viable topics. But then again, I don’t have a little one running around to look after either!
I hope to stay home with our kids (if/when we have some) so I admire moms who are able to do so. One of our goals for the next month is to buy a new to us car with cash. Good luck with all of your goals!
Marvin, I’ve looked into Blue bird and that is a brilliant suggestion. Thank you! I was totally unaware of Amex’s new program (or of Vanilla Reloaded).
Jon, four sites, that is impressive! Are you paid per article with your staff writing gigs, and are you expected to write on a consistent basis?
A focus group on lip balm! If I could find a focus group on beer, it’d be like heaven….
Glad I could help!
Jenna, worthy goals and I don’t doubt for a second that you’ll achieve most of them (well, if you achieve all and easy, you’ll have to raise the bar next time
) – you did so well last time.
Those are some pretty admirable goals. To get started on the $1000, you could do like I did a few weeks ago and open a Chase checking account to get a free $150. It will be the easiest $150 you’ll make! Have you thought more about how to optimize your site for making money? Perhaps a few ads or reviews?
[...] Time to Establish Financial and Savings Goals for 2013 on Broke-Ass Mommy [...]
Lip balm hey? I am the biggest convert to using that stuff. I don’t know how I used to handle having cracked lips all the time.
Brownies, mmmm…..
I think the $1,000 is doable, especially if you’re able to keep growing this site! Speaking from experience you could easily get to a point where you make that in one month!
It’s always tough to keep focused and work towards achieving your goals, but now that you’ve set them you just have to focus on working towards them each week and month! Best of luck!
Woah. That is a phenomenal and tasty offer, MMD. I will be sure to look into that Chase offer. And, unfortunately, I am pretty damn ignorant when it comes to the nitty-gritty of sucessfully monetizing a site.
Jennifer, just found your site and am loving it! Grand choice, staying home with your little sweetie. Glad it is working out for you! I’ve been home now for nearly 10 years and am still loving it. Good luck on your 2013 goals!
Great goals! I am wondering if it is time to post mine…..
[...] Lynn @ Broke-Ass Mommy writes Time to establish financial and savings goals for 2013. – Yep, now is the time to establish financial and savings [...]
[...] Lynn @ Broke-Ass Mommy writes Time to establish financial and savings goals for 2013. – Yep, now is the time to establish financial and savings [...]
[...] Lynn @ Broke-Ass Mommy writes Time to establish financial and savings goals for 2013. – Yep, now is the time to establish financial and savings [...]
[...] Lynn @ Broke-Ass Mommy writes Time to establish financial and savings goals for 2013. – Yep, now is the time to establish financial and savings [...]
[...] Lynn @ Broke-Ass Mommy writes Time to establish financial and savings goals for 2013. – Yep, now is the time to establish financial and savings [...]