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Financial Goals Update: May | Frugal & Simple

Financial Goals Update: May

1. Save 3 months living expenses by December 31. We were able to contribute $70 to this in May & now have 41.5% of our goal!
2. Pay $3,000 towards our “small loan”. We have reached this goal but are continuing to pay this down and hope to have the entire loan paid before the end of the year!
3. Make an extra principal payment every month. We have not been doing this, I still have it listed because it is one of my original goals and I want be completely accountable to the goals we set. The reason we are not making extra principal payments is because we have debt and don’t have our emergency fund fully funded…once these are in place we will begin making extra principal payments! We did however refinance our mortgage on the 29th and dropped our interest rate almost 1 percent and set up a bi-weekly payment plan which will help to pay the house off faster!!
4. Keep all Miscellaneous spending (Medicine, Toiletries, Clothing, Gifts, everything but food) under $100 a month. Since we have been staying well under $100 we changed the amount to $75! This month we were cutting it close to the $75 and only had $1.83 left at the end of the month! The majority of our expenses were at Lowe’s for gardening supplies, potting soil, and compost bucket stuff!
5. Sell $500 worth of stuff from around our home by July 31.We sold $23.61 this month!! The remaining goal is $248.61 which seems unlikely to sell that much by July 31 but we will see!!