2020 MM Goals

[madringal]

We started the DR program last year. We didn’t get to put as much as we wanted towards debt (just my mini van and a small credit card) but we were able to cash flow 20k in house and car repairs that really had to be done. And another 7k or so in medical bills. So 2020 for us means getting the debt paid off. Conservative estimates have it paid off in December, but I’m shooting for Sept. And then spent 4Q doing baby step 3 so we can start 2021 debt free with a fully funded emergency fund!

[mae0111]

Hi! Hoping it’s ok if I join you all. I haven’t been great about keeping up with financial goals since I left my job 2.5 years ago. But I want to outline some clear goals.

1. Fully fund DH’s 401k. We don’t qualify for a Roth for me, but DH maxes out his retirement to the post tax maximum.

2. Fund 529s for both kids to our annual set amount. Possibly start brokerage accounts for both kids.

3. Less random spending. We’ve been buying so much junk lately. I’ve gained a little weight so I’ve bought some clothes to make myself feel more comfortable. Now I have too much and I need to stop.

4. Contribute in a meaningful way to my niece’s service project. Her team needs to raise $100k to fund their trip and pay for materials to replumb, repair, and insulate homes. It’s a lot of money for high schoolers to raise, so I’m hoping we can help.

5. Find a good financial planner and possibly someone to manage our investments. We need advice on some financial decisions regarding DH’s business and our estate. We’ve got an amazing CPA focused on our taxes, but we need more help. I manage our investments, and we’ve done well so far, but I’m feeling out of my depth lately.

6. Roll over my 401k from my last job, and combine brokerage accounts. For many reasons I’ve had to leave things as they were established by my former employer, but that all ends in February.

I think that’s it! We have a big house reno starting in a month, and we’ve saved up the cash for that (as long as we can stay on budget).

[mlkgls]

1. Obtain additional life insureance outside of my employer. 
2. Continue to track any and all spending. 
3. Continue to save for a major home project, although I need to determine if it’s even feasible. If not, I will need to decide if it’s worth it to move. If the answer is no, then I plan to live a little with the $ and plan several smaller upgrades. 
4. Keep new hobby costs under control. 
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5. Increase 529 contributions. 

[trissie18]

Our money goals this year:
1. Pay off our last two credit cards - one will be paid off in March and the other in October
2. Use cash to fund all planned home improvement projects - water filtration system, two front porches/decks, installing second hot water heater for master bathroom (our house is 70 feet long and current hot water heater is at opposite end of the master suite so the water doesn't stay hot enough in the pipes).
3. Up our vacation and e-fund savings accounts

[melmel48]

Get a will, power off attorney and health care proxy plan set up. I have already been in contact with two attorneys about this.

Pay down credit cards... At my current salary I can't completely pay them off. If I get the raise I have been promised, I can easily pay them off.

Save more into savings, both general savings and a separate account I have for house things.

I already increased my retirement savings, but would love to increase it more when that raise comes through.