Up: Money

Back again with another UP post. Almost done with these, "here are my goals" posts, and then I will just focus on random posts, and some monthly/bimonthly progress reports!

As I've shared before, up is my word for 2016. I chose up for the simple reason that I want to improve from last year, work on my mindset, and make positive gains in my life. In the original post, I listed several areas to focus on, and what my goal was in that area. I added the promise that I would write more detailed posts on each area with some more specific goals.

Today I am going to cover my financial goals for the year. I think what is most frustrating when it comes to money and finances is that you can't plan for the unexpected. So often it feels like one step forward, two steps back when planning and saving. It never fails that every time we get some money put away, something comes up! This fall it was needing tires for the car!

The number one goal for the year is to:

• UP savings. This is especially important because a lot of what we've put away over the last 9 months is being used to pay for our spring break vacation. Once we are home from vacation, however, I want to make sure we get right back in the habit of putting money each month into savings. So important for financial security, as well as sanity to be able to have some fun and splurge from time to time, to have some money set aside. Something that I wish we would have been in a position to work on earlier in our adult lives!

Some other goals I have in this area:

• update life insurance policies
• pay off at least one loan or credit card. We have very little debt compared to where we once were, so that is good. We have also been paying extra each month to nearly each credit card (one in each of our names) and our personal loans (camper, personal loan, car). I should look into using the "snowball" method though and see if I couldn't start paying one off faster. Has this method worked for anyone else?
• put more into Chad's 401k, and start my 403b. I think that is what I have available to me. I always forget the numbers! Right now I have my teacher retirement package, but after three years the district will also match a certain amount into a 403b account. It can't hurt to set that up as well. Again, we weren't the smartest in putting money away sooner, but I have no doubt we can still set ourselves up for success.
• increase giving at church. This is just a personal goal of mine, and I've met this goal for January.

There are absolutely always additional ways to be fiscally smarter. These are just the areas that jumped out at me to address first. If I meet these goals, then I can look at more. The one thing we did just do in December is switch our car insurance. We were paying quite high rates, especially since our home owner's insurance was switched; having car and home owners back on the same policy is one area we've already cut back. I am hoping this will lead to the escrow part of our house payment decrease again, too! That would be awesome!

I would never ask you to share personal money/financial information (obviously), but is money comfortable for you or a stressor in your life? Right now, we are comfortable, and it is more about looking for ways to give back and get ahead. We have experienced it as a stressor for sure though. Anything you are working on it this area?

Compilation of UP posts:
Up: Mind
Up: Career
Up: Body
2016: UP