Financial Goals Update

It's been a few months since I did an update on our financial goals for this year. Since we're almost(!) halfway through the year, I thought I'd do a quick update.

1. Reduce gift spending by approximately 1/3, but not our gift giving.
As for many of us, this is a busy time of the year for gift giving. In June, July, and August we have 6 family birthdays, plus Fathers' Day. In addition, this is the time of year for weddings and graduations.

I keep a really close eye on the deals the bloggers in my reader are posting each day. Anytime there is a good deal, free magazine, or sample I think would make a nice gift, I try to follow up on it right away. One example is the free subscription to Organic Gardening for my mom's birthday.

I've been working on making more gifts, too. I made a sweet 16 gift for a girl in our church and am working on Wordle art like the one found here for graduation and Fathers' Day.

I also watch for clearance deals at stores. I did well at Old Navy recently for Fathers' Day (50% off on men's apparel), and right after Christmas got a cute croquet set for 75% off we'll be giving as part of a wedding present. The other part of the gift is a gift card from Target we got with credit card rewards points. I also use Swagbucks to earn gift cards. You can sign up for Swagbucks here.

I think these efforts are paying off. We are just shy of the halfway mark this year, and have spent just over 1/3 of our allotted gift budget. Soon, I'll start giving more thought to gathering items for Christmas.

2. Continue to prepay mortgage.
We continue to pay a little extra on our principal each month, and are hoping to put a small amount more toward our payment in June.

3. Create a CD ladder for savings.
Still only one CD!

4. Continue to save for daughter's college fund and general savings account.
We had the opportunity to put some extra in our daughter's college fund from our income tax refund and an "extra" paycheck. Every little bit helps!

How are you doing on your 2009 financial goals? Check out Money Saving Mom for more!


Annie said…
At this point we can't do any savings. We only have one income and live with a budget. Every week we only have $80 to spend the week (it means only $320.00 for a month). We that $80.00 we need to buy diapers, grocery, gas, and gifts for special occasions.

I'm going to sell embroidery diaper cloths to have "extra" money to live.

But besides of that we are a happy family.

Have a great week.