If you haven’t already noticed, I’ve got some Medium Term goals set for 2012. To see the difference between long, medium, and short term goals click here. I wasn’t planning on doing regular check ins with these goals, because really, who wants to hear me talk about how I added $300 to my wedding fund? I’m guessing no one. However, today is a significant day because I reached 50% on one of my goals, so I’m going to be doing a little goal recap. First on the list is my wedding fund:
1) Save $3,000 for my Wedding Fund
My wedding budget is $7,000. I’m contributing $3,500, my fiancé is contributing $3,500. So I figured I should be able to save the majority of my part this year. Happily, my “wedding fund” account sits at $1360 (45% complete) today. $1000 of that is from my monster tax return. The rest is from weekly contributions that I’ve been making since I maxed my emergency fund. Thanks to ING’s handy savings calculators, I’m on target to hit this goal by November 1st, 2012. That’s as long as I don’t get hit with any catastrophic emergencies that cause me to have to dip into my emergency fund. That also means that I should have my whole $3,500 saved by December 31st, 2012. That’s good for me because guess where that extra cash is going after my wedding fund is full? That’s right, to feed my debt monster.
Isn’t he cute?
2) Pay Down $7,500 Worth of Debt Principal
Status: $6603 paid or 88% Complete! Oh yeah, I’m rocking this goal hard. To be honest though, $4000 of that is from the tax return, but I don’t care, it still counts and I fully intend on blowing this goal out of the water this year. In fact, according to my calculations, if nothing changes and I keep up with my debt payments, I should end the year with around $12,000 of debt paid off. Not bad at all!
3) Run 350km
This goal is the one I wanted to talk about. Mostly because I had set this goal last year but ended up missing it by about 100km because of my car accident. So instead of getting mad I just reset the same goal for this year, and I’m happy to say that after this weekend’s runs, I’ve run 175km or exactly 50% of the distance I had targeted in 2012. This running goal is completely unrelated to personal finance, but it has everything to do with discipline, personal restraint, and not giving up. I’m very happy to have made it to the half way mark so early in the year for this goal, and I plan on blowing it out of the water just like the rest of them.
So that’s how I’m doing with my goals. How are you doing? Are you on track? Have you had some setbacks? I want to know!