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Financial Goals Update: February | Frugal & Simple

Financial Goals Update: February

We have had another successful month making strides towards accomplishing our 2010 Financial Goals!

Here’s what we accomplished in February:

1. Save $3,000 for new to  us vehicle. In February we saved $133 towards this goal! That means we have $2,715.50 to go! Achieving this goal may be a bit of a stretch but we still have 10 months to save!!

2. Add on a guest room in the basement without any debt. We saved an additional $112 in February towards this goal which brings our basement fund to $562.78! We initially planned on having this room completed before the baby came but we are not going to be able to get this finished by then. However, more time before we begin building means more time to save money so we can build without debt!!

3. Establish a college fund for Paxton. We have not established an official college savings account or even a savings account yet. We still aren’t sure what we are going to do as far as saving for college.

4. Make an extra principal payment each month. Our goal is to have our mortgage paid off in 15 years which means we need to make a payment of $215 each month! In February we made $350.95 in extra principal payments!! This is $135.95 over our monthly goal!! We made several Craigslist sales this month and $120 of the extra payments were from those sales!! (I love selling our unwanted stuff to help get our house paid off faster!!)