Last month I changed up how I was tracking and reporting on our savings goals. The month to month variances are hard to explain, so I've simplified to have our starting goal, progress in cash difference, and progress on utilizing the savings towards our priorities. We increased our cash savings balance by $1,500 in October. As part of our original goal was to top off DH's retirement to the max of $24,000, I've added that into the non-cash progress towards our savings goal.
Annual Savings Goal $40,417
Cash Savings Increase $ 8,091
(since January 1, 2017)
Financial Goals Achieved/Progress
Fully Fund Roth $13,000
DH Additional Retirement $ 2,516 (towards $6,000 as part of annual goal)
Total Savings achieved $23,607
Goal Balance $16,810
The cash savings means we have enough to meet the $8,000 target towards DD2's college fund, we originally set as a target. We are averaging $2,3607 per month in short and long term savings. It would be really ideal if we could keep that average up or improve these last two months, missing our mark by only $12,000. (Only-ha ha). If you are curious to see what made up the $40,417 target, revisit the post from last December Thinking Ahead to 2017 Financial Goals.