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Rethinking my goals
In light of the way money has been moving out of my accounts lately, I have begun to think I may need to renegotiate some of my savings goals. I think this would take some of the stress off my mind and make the budget fit the changes. I need to save $3000 by the beginning of 2012 to pay the final balance on DS2's trip. That's a big chunk and I am not willing to go into debt for it. I hate the thought of changes to those savings but realistically, the money only goes so far.
Here is what I am considering:
- removing the $1000 towards the EF
- taking $200 off xmas savings
- reducing my RRSP to $1000
That will allow me to repurpose $1700 towards the necessary $3000.
I seem to be good at saving the snowflakes, so I am hoping that I can continue to do so, to meet the trip goal quickly and funnel extra money back into the deleted goals.
12 comments:
You definitely are good with the snowflakes...I think that helps you a lot! I would say moving down on the Christmas and E-fund goals is smart. If your son is going on this big trip, maybe it stands to reason that his Christmas gifts be a little smaller this year?
LBC - exactly. that was his immediate suggestion as well. It's good to know I have taught him a few good habits of thinking :-)
I think it is great to reassess the plan or goal, especially if you feel stressed out and that it isn't working. This sounds like a great plan by the way. Good luck.
I think I know you well enough to state that I know you'll manage this expense in the same fine form that you've managed the others. Tweaking the amounts going into other areas means no big withdrawal from savings when the time comes to pay up. Then it's time to re-tweak once again. Your son is to be commended re Xmas gifts - he's doing his bit to help you out:)
Thanks Niki and Jane. I appreciate your support.
What a good show of values you have instilled in your son! I hope that I can say the same when my son is that age.
I agree with Makky's Mom. Girl - you are the bomb! Your commitment to savings and budgets astounds me. The trip is something he will remember the rest of his life and it brought tears to my eyes how sweet he his.
What a great idea. It's so smart to remain focused on your goals yet flexible enough to reevaluate.
I hate making budget changes but it often makes sense and like you say can stop us stressing.
It's lovely that you're giving DS this opportunity :)
Sounds like a great plan, Jolie. You are very resourceful, and I'm sure everything will work out!
I agree with everything already said! Also I will be tweaking my budget as well, so we can do it together!
I think re-evaluating goals is necessary sometimes & it sounds like you've figured it all out! :)
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