Financial Goals

piggy_bankSo June is almost over. I know, can you believe it? Soon we’ll be saying Happy New Year’s and Welcome 2014 – scary. Anyway, I’ve decided to step it up with my financial goals for the rest of the year. I’ve been not so frugal for the first half of the year so now I need to really hit it if I’m going to meet my 2013 financial resolutions. One of my resolutions was to have a stable emergency fund for me and Mr. CrazyRichLife and I’m proud to say that we’ve done pretty well on that. That being said, our other savings have gone kaput. We enjoy our comfortable living situation – going out to dinner, watching movies at the theater, buying new clothes and video games, you know the deal. Well that needs to change. We are looking to make some major life changes (ie. move to Miami, buy me a new car, finish school) and well we can’t keep living this way if we’re going to make that happen. Miami would still be a year away if we decide to do it and with moving to Miami, we decided to both finish school there. I’d probably also wait to get a new car there as to make it easier on our move.

With all this in mind, we need to ramp up our savings. My #1 financial goal, from now until December 31, 2013, is to save $3500. I know that doesn’t seem like a lot, but for someone who makes practically nothing, that is a whole lot of money. In order to achieve this goal, I’m going to save $500 a month from July to December. To help me achieve this number I’ve decided to cancel my gym membership – I can work out at home anyway. No more shopping. It’s become a serious addiction lately. Yes, I always buy things on sale or for super cheap but $10-$20 here and there adds up. I just need to buckle down and stop buying things. I have plenty of clothes and shoes and accessories so no more.

Now for the terrible eating out habit. This has to stop. It’s just so easy to not pack my lunch and then just grab something when I’m out. We’ve gotten better at not eating out for dinner but the lunch thing needs some work. I am paper bagging it from now on. Well not literally, trying to save the planet so I’ll use my reusable lunch box.

Water bottles are another issue for us. We have a Brita Pitcher and a Brita water bottle, we do not need to buy water no matter how cheap we get it for. As well as it being bad for the environment, it’s not too pretty on our wallet either.

Ah, movies. It’s not so bad if we catch a matinee right? Wrong. It’s still money we don’t need to spend. We can wait for it to come out and grab it at our local Redbox.

Breakdown of how much we’ll save per month (well approximately)

Gym Membership – $34

Clothes, Shoes and Accessories – $100

Eating out – $200

Water Bottles – $8

Movies – $30

Total = $372.00

Ok so that’s $372 a month for 6 months which gives us = $2200. Yes, you are right, that is not $3500, but that’s not the only money I’ll be saving. I’ll be putting around $50 each week on top of my cutting back.

Ok guys, I’m counting on you to help me stay accountable. I’m going to be posting my weekly spendings so that you can help me out.

What about you? What are your financial goals for the second part of the year?

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One thought on “Financial Goals

  1. Pingback: Take out all the extras | mycrazyrichlife

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