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December Goals

December 2nd, 2007 at 08:28 am

1. STOP SPENDING ???
Of course that's easier said than done. We love to eat out all the time, whether it's fast food or a sit-down restaurant. A lot of times we eat on the run before going to martial arts, therapy, etc. But we also like to eat out just because. DS (14 y/o) suffers from depression and anxiety and regulary sees a psychiatrist and therapist, so eating out is kind of like family therapy for us.

2. Pay down debt.

3. Save for retirement.
We've got about $70k in retirement but that's about it. Since I quit work 4 years ago, retirement has really been put onto the back burner.

4. Continue saving $300/month for contingencies and big expenses (i.e. property taxes, insurance, etc.) Since we don't escrow our insurance/taxes I have to make sure that we save regularly for those. I've got about $1,000 in that account. I'm occasinally taking money out of that account to pay for car repairs, bills, etc. so that balance is always going up and down.

2 Responses to “December Goals”

  1. Amber Says:

    Good luck Smile

  2. madhaus90 Says:


    Welcome, I'm a SAHM with four DKs under 10. While I'm no expert on things and after quickly looking over your lists:
    (1) Clothes budget seems high if that is a regular expense. Do you frequent consignmen and resale stores? I regularly get designed clothing for the whole family for sometimes $5 per item.
    (2) I understand the dining out category - are there cheaper alternatives to where you are dining? do you use a Entertainment Book for discounts?
    (3) Kids activities seem high - I understand the importance of having an outlet for your children - my girls Irish Dance competitively and it is a huge cost - but they love it, excel at it, and it builds confidence. However, when it comes time for other activities it is either at the Y where we are members and are nominal compared to "specialty" schools.
    (4) Can you cut back on groceries? Shopping from a planned menu and rotating it? Do you stock up on loss leaders when they are on sale? Coupons aren't for everyone, but you'd be amazed to track your savings over a few month period.
    (5) I understand the cost of meds. If your child isn't on adult doses (from age, probably is) it might cost less to get adult strength and cut in half (I saved over $300 per year switching for my daughter's astma)
    (6) Is your escrow/savings in a high-interest yielding account?

    You'll get a lot of good ideas here! Welcome, hope its the start of a new financial year for you!!

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