FY 2008 report card
Here’s a look back at the things I set out to do (or not do) in 2008 this time last year, and an update on how it all went:
“I’m getting a new job.” Marginal pass. Well, I got a new job. It wasn’t a direct hire with benefits, like I intended, but it got me through to the end of the year. Needless to say, I still intend to get a new job.
“I’m aiming to host my parents at my house in the next holiday season – in a house I’ve been dreaming about owning for years! MY name on the deed. MINE from roof to basement subfloor – wall to wall – fence to fence! Makes me smile just thinking about it.” Pass! I didn’t get the house in time to host anyone, but I did get it, and Mister Ant and I rang in the new year camping out in the house.
“Even though it didn’t happen last year, I will be totally free of all credit card debt in this year for certain.” Sho ’nuff! I mean, pass! I had some Christmas presents/home inspection/auto insurance premium/auto toll pass debt, but I paid it all off in time to enter 2009 credit-card debt free.
“I will continue to pay my car note faster than the value of my car will depreciate.” Pass! My payments beat depreciation by $1,918.
“My net worth will climb by $10,000 at the very least.” Pass! It grew by $19,649.
“My retirement savings will grow.” Pass! By $1,939. Should have done better, but I wanted my house, so most of my savings went there.
“My wedding savings will grow.” Fail. Mister Ant and I wanted the house first. I haven’t put a penny to the side that’s specifically for the wedding yet.
“I’m going to use the IRS withholding calculator (thanks, Single Ma) so that my money stays with me instead of getting loaned at no cost to the government. I don’t want to overpay in taxes.” Fail. Actually, I tried, but my estimate of last year’s income was too low, so I had too much money withheld by fall. I don’t know how much my refund will be yet, but I do know that I gave the government that loan.
“…The goal is to automate my goals as much as possible.” Fail. With my current non-automation friendly employer and tenuous employment throughout the year, I didn’t feel comfortable automating. Instead, I did all the work – the retirement and goal saving, the bill scheduling, everything - manually.
“At each pay period, I’ll do the math to see how much money is left in my account after my savings goals and bills – and I’ll hold onto a little mad money after putting the rest towards debt reduction and savings for the house. “ Marginal Pass. That’s almost exactly what I did. And it worked well for me. The exception is that I did not pay myself first most of the time. Not knowing when your job will end means paying your bills first and saving with the remainder.
“I will not put anything on a credit card that I can’t completely pay off at the end of that billing period.” Pass! That’s why I have zero balances today.
“I will keep my eyes open for opportunities to boost my income, such as making money from my hobbies.” Marginal pass. I lost focus with completing surveys, but I started making moves towards a little sidehustle towards the end of the year.
“There will be temptations, like …that video game system …some clothes shopping… I’m very tempted to use my passport in the new year… they’ll have to come lower on my priority list than my other, more important goals, and I’ll have to take my time to save for these things instead of just buying them outright at the expense of my goals.” Pass. I did go halfsies on the game with Mister Ant, and I took a trip to New Orleans, but these things were fully paid for and I still met most of my goals.
I think I did pretty well, considering some of my circumstances. Have you compared your goals from last year to your actual performance?
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You did pretty damn good to me. You achieved so many huge goals so a few tiny fails means nothing in the long run. You are truly inspirational.
You are doing terrific! Keep up the good work and I love the new site!!