The Good Life on a Budget

• Posted by JvW on January 31st, 2009 filed in Real estate, Taxes, thoughts

Another year is upon us. I don’t make resolutions, but I do set goals for each year. Last year didn’t exactly go as planned, but we were able to accomplish a few of our goals. Here’s what we’re aiming for in 2009:

Save a down payment. Due to my husband’s new job, we’re planning on moving this year. This is where all of our energy will go until we move. The goal is to save $20,000 by July. The sooner we can reach the number, the sooner we can move.

Open a 401(k) for my husband. He becomes eligible to enroll on February 1. His new company matches the first 4% and is immediately 100% vested. We’ll be participating asap.

Pay off car loan #1. With about $7000 left to go, this doesn’t amount to much more than the regularly scheduled payments. In fact, it will probably save only $100 of interest, as the loan ends in June 2010. Regardless, I want it GONE.

Build the emergency fund to $10,000. Right now the e-fund “officially” has about $60 in it. We do keep a $1000 buffer in the checking account at all times, but I want to have plenty of cash set aside.

Prepare taxes by the end of February. After the fiasco last year, I don’t want any surprises. We may owe money due to my husband’s consultant work in 2008, so I want to be ready for that. If we do have to send a check to the IRS, at least we will have a little time to get the money together.

There you have it! I am looking forward to some financial progress in 2009.