2021 MM goals check in....we're getting down to the wire

[dr.girlfriend]

Oct 21, 2021 17:38:21 GMT -5 ellipses84 said:

This probably wouldn’t be a MM or GBCN approved goal considering our overall financial picture and Covid, but I accomplished a big spend goal! My bday has always been lame due to the time of year and life circumstances. I had infants at the last two big milestones and did nothing special.

My BFFs bday is 2 weeks after mine. Several years ago we decided to take a milestone bday trip to Europe this year. It was supposed to be a big college friends group. I honestly didn’t know how I was going to swing it financially, logistics or time-wise with work and family when I agreed to go. Then Covid happened, so it was totally up in the air for over a year and most people weren’t willing or able to go. We started tentatively planning a couple months ahead of it when it seemed things were getting better. Then delta hit and the last friends bailed except me and my BFF. Luckily we kept plans mostly refundable and flexible so they didn’t lose much money and we could rebook size appropriate, more affordable accommodations. We debated postponing but there was no time in the next year + that would work for us. Remote work related to Covid made the time more possible. We finally committed to going like a week ahead of time when we were sure we’d be allowed to travel to our destinations.

It was amazing and totally worth every penny! We are extreme planners and had to figure out a lot on the fly. The travel was more stressful and complicated due to Covid but we tried to be as safe as possible and our destinations felt pretty normal with mainly outdoor activities. We made it back home healthy. DH chose to stay home with the kids which made it feasible, more relaxing for me and 1/4th the cost compared to us all going (which wasn’t even possible for many reasons). Plus I split everything 50-50 with my BFF and we stayed in Airbnb’s where we could cook some meals. Our post Covid financial situation with job changes is much better than it was before. It was definitely the trip of the decade, if not my lifetime!

I TOTALLY approve!  Travel is going to be a big priority for us going forward.  We put it off for many years while my BIL was struggling with his terminal illness, and then COVID hit.  We are going to travel in the next few years no matter what!

[aprilsails]

I updated at the halfway mark that I had met most of my goals already and that others (coordinating with family on a vacation property) were dead in the water.

While I did fully find my TFSA for this year, I also wanted to put more money in to fill up some of my available space. Unfortunately I’ve now paid for a crown and half a root canal out of pocket so that has killed off that idea for this month. We have made forward progress on ordering bedroom furniture (finally!) and we should have that done over the next 6 months.

In a semi MM win all of our neighbours on three sides have decided to put in pools and have rolled the cost of the fencing into their pool contracts so now we basically just need to pay for gates to have a fully fenced backyard. Unfortunately the fencing is not the colour or type we would have necessarily chosen, but we can afford to put more money into landscaping now, and all of them are chain link or PVC so low maintenance.

[midwestmama]

Oct 22, 2021 13:51:32 GMT -5 dr.girlfriend said:

Oct 21, 2021 17:38:21 GMT -5 ellipses84 said:

This probably wouldn’t be a MM or GBCN approved goal considering our overall financial picture and Covid, but I accomplished a big spend goal! My bday has always been lame due to the time of year and life circumstances. I had infants at the last two big milestones and did nothing special.

My BFFs bday is 2 weeks after mine. Several years ago we decided to take a milestone bday trip to Europe this year. It was supposed to be a big college friends group. I honestly didn’t know how I was going to swing it financially, logistics or time-wise with work and family when I agreed to go. Then Covid happened, so it was totally up in the air for over a year and most people weren’t willing or able to go. We started tentatively planning a couple months ahead of it when it seemed things were getting better. Then delta hit and the last friends bailed except me and my BFF. Luckily we kept plans mostly refundable and flexible so they didn’t lose much money and we could rebook size appropriate, more affordable accommodations. We debated postponing but there was no time in the next year + that would work for us. Remote work related to Covid made the time more possible. We finally committed to going like a week ahead of time when we were sure we’d be allowed to travel to our destinations.

It was amazing and totally worth every penny! We are extreme planners and had to figure out a lot on the fly. The travel was more stressful and complicated due to Covid but we tried to be as safe as possible and our destinations felt pretty normal with mainly outdoor activities. We made it back home healthy. DH chose to stay home with the kids which made it feasible, more relaxing for me and 1/4th the cost compared to us all going (which wasn’t even possible for many reasons). Plus I split everything 50-50 with my BFF and we stayed in Airbnb’s where we could cook some meals. Our post Covid financial situation with job changes is much better than it was before. It was definitely the trip of the decade, if not my lifetime!

I TOTALLY approve!  Travel is going to be a big priority for us going forward.  We put it off for many years while my BIL was struggling with his terminal illness, and then COVID hit.  We are going to travel in the next few years no matter what!

I also completely agree!  Over the last year and a half, I've really thought more about the importance of travel, since we weren't really able to do it.  Now I see it more as an investment in family time, mental health/self care, and in life experiences.  It's definitely something DH and I have discussed being more intentional about budgeting for going forward.

[atarianna]

So my goal was to make some money freelance to try to equal out where I was annually with my PT job. It’s been super overwhelming to consider all the ins and outs of setting up my own company so I’ve just sat here and fretted about it instead. I need to just freaking do it.

I was applying for some other PT positions and networking with previous colleagues. I was offered a PT position at a company that I do think would be a good fit, but ultimately the pay per hour wasn’t enough to take it.

We did refi (again!!) and locked in a rate of 2.25%, didn’t add any closing costs to the loan and only had to bring $3.99 to closing. It reduced our payment pretty significantly and since we were only about a year and a half into the 30 year term, we didn’t extend the life of the loan too much.

[ohgillian]

ewall, may I ask if you've gotten any cost estimates on an exterior renovation and what it would entail?

[Mushe]

Wow, 2021 has been such a dumpster fire that I was sure I’d posted initially, but never did.

I did have a few goals for the year and then some surprises.

1) Refi if it made financial sense. My husband was dragging his feet forever, so I finally just applied - using a Rec from this board! - and got a really good price for closing costs and no points. We’d been 6 years in to a 3.375% 30 year loan, and went down to a 15yr at 2%! We were paying ahead a little since H is old (haha, his words), and our payment is now $50 less than that. House will be paid off when our youngest graduates high school.

2) Get estimates for a main bath renovation. Ugh, this one stinks. They were all in the $35-45k range. I had no idea it would be so much. Sitting on this for now because H likes to hoard cash but also only wants to pay for things in cash.

3) Stop bleeding money on child care. We had both PT preschool and an au pair last year, and while it was amazing, it was 🤑🤑🤑. We shifted the little one to FT at her Montessori preschool and are saving a boatload. Doing all the driving stinks, though. Maybe we’ll get another au pair when she’s in kinder.

4) This is the unexpected good news - PSLF expansion. I’ve been in government for 15 years, but had my law school loans in extended repayment since the rates were so low. I’m thrilled if it works out that I can have the rest forgiven! I definitely earned a lot less than I could have in the private sector. If this works out, H is fine with using our cash to do the bathroom now and then steering the loan money to build it back up.

[mlkgls]

I’m hoping to have a bit more accomplished by year’s end as a few of these are only half finished. 

1. Obtain a non-work related life insurance policy. After stress eating my way through the pandemic I wanted to lower my BMI before requesting policy quotes. While I’ve made my 1st goal, recent birthday indulgences have pushed me up a couple of pounds. I plan on starting the process next month, but semi-MM related, in the meantime I’ve lost 25lbs and have been able to “shop” my closet. 
2. Create an “in case of” accounts and contacts list. I have a will, but my accounts and policies are scattered all over the place. Started, but not completed.
3. Fully fund new car fund. Technically it’s probably fully funded now, but I’m going to continue contributing the rest of the year to offset rising car costs. 
4. Pay down 30% of my HE loan. I ended up refinancing due to the incredibly low mortgage rates this summer and rolling in the HE loan. I’m on track to pay off early, but this allowed me to move the date up even sooner. 

[wise_rita]

Oct 25, 2021 7:23:02 GMT -5 midwestmama said:

Oct 22, 2021 13:51:32 GMT -5 dr.girlfriend said:

I TOTALLY approve!  Travel is going to be a big priority for us going forward.  We put it off for many years while my BIL was struggling with his terminal illness, and then COVID hit.  We are going to travel in the next few years no matter what!

I also completely agree!  Over the last year and a half, I've really thought more about the importance of travel, since we weren't really able to do it.  Now I see it more as an investment in family time, mental health/self care, and in life experiences.  It's definitely something DH and I have discussed being more intentional about budgeting for going forward.

I just came across this article after reading this thread: www.reuters.com/article/usa-economy-confidence-travel/u-s-consumers-gear-up-to-hit-the-road-and-foreign-destinations-idUSKBN2HG2EP

You and dr.girlfriend are not alone!

[aspentosh]

Oct 21, 2021 17:38:21 GMT -5 ellipses84 said:

This probably wouldn’t be a MM or GBCN approved goal considering our overall financial picture and Covid, but I accomplished a big spend goal! My bday has always been lame due to the time of year and life circumstances. I had infants at the last two big milestones and did nothing special.

My BFFs bday is 2 weeks after mine. Several years ago we decided to take a milestone bday trip to Europe this year. It was supposed to be a big college friends group. I honestly didn’t know how I was going to swing it financially, logistics or time-wise with work and family when I agreed to go. Then Covid happened, so it was totally up in the air for over a year and most people weren’t willing or able to go. We started tentatively planning a couple months ahead of it when it seemed things were getting better. Then delta hit and the last friends bailed except me and my BFF. Luckily we kept plans mostly refundable and flexible so they didn’t lose much money and we could rebook size appropriate, more affordable accommodations. We debated postponing but there was no time in the next year + that would work for us. Remote work related to Covid made the time more possible. We finally committed to going like a week ahead of time when we were sure we’d be allowed to travel to our destinations.

It was amazing and totally worth every penny! We are extreme planners and had to figure out a lot on the fly. The travel was more stressful and complicated due to Covid but we tried to be as safe as possible and our destinations felt pretty normal with mainly outdoor activities. We made it back home healthy. DH chose to stay home with the kids which made it feasible, more relaxing for me and 1/4th the cost compared to us all going (which wasn’t even possible for many reasons). Plus I split everything 50-50 with my BFF and we stayed in Airbnb’s where we could cook some meals. Our post Covid financial situation with job changes is much better than it was before. It was definitely the trip of the decade, if not my lifetime!

Travel is so important! For a variety of reasons, but happiness is a big one. So glad you were able to make it work! Love traveling Europe and they make it so easy.

Like many others, we are making travel an even bigger priority now. It's always been big to me, but missing out on almost two years of it sucks and I want to make up for it. 

[wildrice]

Well, I randomly paid off our car this morning, so I guess that's another goal met. My H was offered a new job last week, so I decided there was no good reason to keep paying interest on a 2k car loan. We are most likely selling our 2nd car now that my H is going to be working fully remote, and I think we'll get at least 2k from that so it will end up being a wash anyway.

[waverly]

I didn't make formal goals this year:

1. @ Finished paying for the nanny, kids went back to school full time Feb 2021. They did summer camps, but we did away with aftercare this year since DH works from home, and they are 11 and 9. So lots of savings on the nanny, and some savings on aftercare.

2. Paid off my student loans- woot woot.

3. We have money set aside on our bathroom addition. The plans are made up and they are doing the permits and ordering windows for a Feb 2022 start. We didn't want to start now and have it sit over the winter without brick/ windows, so we decided to delay it.

4. Still contributing to our 401K, pension, 457b and 529s.

5. Nothing felt right about a vacation home, so that is tabled, and I hope DH doesn't bring it up because I think I have decided no on it.....

6. DH is working on a side hustle.

7. My car is almost paid off, but DH wants me to have an electric car, so not sure what is happening on that but not too worried about it. He has 2 more years on his lease, so maybe we wait until then and get a cheaper electric car?

[simpsongal]

I can't remember when I mentioned it on this board, but I projected we might hit $1M in savings/retirement this year...I wasn't sure we would when I projected that and I just checked - we did!

[keyslover]

We took out a $31,500 2 year consolidation loan 8/2020 with the intention and ability to pay it off early. We paid it off today

Now we need to reevaluate our budget. We are FINALLY in a place where we can look at our budget and have "extra" money to put in places like Savings and Emergency Fund. While I am excited and proud, I am nervous about it all. I am so used to living month to month and making things work. I know it is a good thing, I just don't want to eff it up!

[aspentosh]

Nov 5, 2021 8:04:40 GMT -5 simpsongal said:

I can't remember when I mentioned it on this board, but I projected we might hit $1M in savings/retirement this year...I wasn't sure we would when I projected that and I just checked - we did!

That has probably been my happiest money moment to date. Something about two commas was... moving.

Paying off all non-mortgage debt being a close second. 

[chpmnk1015]

I think I'm going to hit my vacation fund goal by christmas... woot.

[mactastic]

I didn't contribute to the original thread, but set the internal goal of paying off my husband's largest and highest interest student loan before the end of the year, using the time it was paused and interest free to knock it down as much as we could. As of Friday's paycheck, we are $175 away from paying it off. It'll definitely be gone before interest kicks back in, and will make our monthly payment much more manageable when our daycare costs increase and interest returns. 

Aside from that, I hit our goals of paying off my car and buying a house in our crazy market while also navigating the first year of having a baby. Seeing it listed out like that makes me really proud, especially because we are MM Poor, lol.  

[ohgillian]

Nov 24, 2021 10:11:26 GMT -5 mactastic said:

I didn't contribute to the original thread, but set the internal goal of paying off my husband's largest and highest interest student loan before the end of the year, using the time it was paused and interest free to knock it down as much as we could. As of Friday's paycheck, we are $175 away from paying it off. It'll definitely be gone before interest kicks back in, and will make our monthly payment much more manageable when our daycare costs increase and interest returns. 

Aside from that, I hit our goals of paying off my car and buying a house in our crazy market while also navigating the first year of having a baby. Seeing it listed out like that makes me really proud, especially because we are MM Poor, lol.  

This is huge. Nice work!