November Financial Goal Review

We hardly managed to save anything this month. This was due in part to the top of the wall dividing the driveway and the rest of the garden being finished (materials and labour) and buying Christmas presents, as well as the trip to Suffolk with the B&B and other associated costs.

It is looking unlikely that we will hit our income goal for this year, which is a shame, but then it was only an arbitrary figure. We have however, been really blessed in that we are now totally debt free, the mortgage notwithstanding and we have a beautiful, safe driveway. On which no price can really be put.

We are thinking ahead to next years financial goal. At the moment we are thinking that we want to pay £5000 off the mortgage, which is a teeny tiny dent. But it will mean a different way of accounting to this year. This year's method has been to keep track of all the money put into the goal pot, but the actual bank account has nowhere near that amount in it as the money was used to pay off debts, to pay for the driveway etc. The money in the account has always been accessible, and we've taken it out as its been needed. Next year, the money put into the account will have to remain untouched. I think that this will pose more of a challenge, especially as we want to re-do our upstairs bathroom and bedroom, the final two rooms of the house that haven't been touched, and perhaps go on holiday somewhere. I realise that these two things are merely wants and not needs, but we will need to exercise self control over our spending in order to pay the money off the mortgage.

But this year isn't finished yet, so we will see just how well we have done in approximately 25 days time :)


Val said…
Ah, the joy of a mortgage. We've had some similar conversations lately.