My husband and I were able to have our big kick off meeting for our financial goals over the weekend. I reviewed with him the 2012 year end financials
We have no debt at this time except for our mortgage and I feel like we have other things in priorities that we need to either pay for now or aggressively save for.
1. Increase funding DH 401k at 13%
We are currently at 12% and I feel as we are in our 40s we need to make sure that we to save some more.
2. Deposit $450 a month in a Roth IRA for me.
we do this automatically each month this is an increase of $50 a month.
3. Save $3,000 outside of retirement and college saving plans.
I usually have this aggressively at 5k but the last few years we don’t get there. With increasing our 401k and Roth IRA funding I am hoping that we can continue
4. Save for College $150 a month for the oldest and $100 for the two others
Two of my sons have a 529 education plans. The 3rd one who has autism I save in balance fund. My oldest will be heading into college in 4 years so I feel that I need to add some more money to his account.
5. Save for our vacation fund
We are planning on going to Niagara falls over the summer month. Between transportation, hotel cost, food and tickets it will be about $2200.
6. Repave our drive away
I like to do one big home improvement and maintenance goal.
. Excess tax return money (and money saved via self employment) will go towards our drive way I expect this to cost about $2500
7. Substitute teaching
I let my contacts know I would like to start subbing on a regular basis again. I hope to be able to sub 2-3 days a week.