The State Of Financial Affairs-September Wrap Up

When I last updated, I resigned that my savings target for 2018 was little more than a far fetched goal, but still motivation to be lean in daily living in order to maximize funds towards priorities. September was tough on the paycheck front. Add that to some lofty expenses, and the cash balance has crept into the wrong direction again. Still, we never would have gone on our vacation had we not had all of it tucked away in a savings account with a goal to replenish. It would have been good to meet our goals this year without dipping into past years savings further than we needed to as part of the overall plan, but I was more  ambitious than my paychecks. Not one to be deflated about money (note my hint of sarcasm), I am motivated even more to keep a handle on day to day living expenses to end the year. We need to keep savings towards our life investments, whether that is another big trip someday, college for our daughter, weddings, and a home we love.

Below is the recap in terms of our annual spending priorities.

1.      Fully fund the Roth                                              $13,000

2.      Once in a lifetime family vacation                        $15,552 ($3,000 added +$552 overage)

3.      College Fund                                                       $12,000

4.      College and Show Choir Road Trips                   $  1,500

5.      All State Camp                                                    $     650

6.      Home Upgrades                                                  $  9,000                                                                                                                                  $51,702

Annual Savings Goal          $38,702 ($51,702 priority budget-$13,000 from savings)

Roth                                          $13,000

Taken from Savings                 -$13,000

Vacation expenses paid             $15,552

College/Show Choir trips paid   $ 1,282

All State Payments                    $   650

Cash Savings Increase             $ -2,311

Total Savings achieved             $15,173

Balance to save:  $23,529
We should (there's that sarcasm again) be able to put an additional $7,500 away by the end of the year, which would average $2,500 per month. Then, a realistic 2019 plan needs to be developed, but one where I at least try and stretch. Other than Christmas, and I have been chipping away at some gift  giving and about $900 more in show choir payments, we have no other big expenses to shake the budget. Having August, September and now it appears October, being horrible months for DH has been a real kick in the shins to our plan. Technically, we haven't even saved the full amount of the trip yet, nor contributed to either the college fund or the home repair fund. I need to remember the good things we are doing financially which do not reflect the day to day and month to month cash flow such as our annuity accounts, 401K's and my pension account and match. This being honest with finances on a blog is sobering, but motivating at the same time.