What are your 2008 New Years Financial resolutions?

I want to increase my DH & my retirement payroll deduction by 5% each.

Make one extra mortgage payment this year.

Payoff our house Specials!!

Start logging my travel mileage, since I drive a long distance to drill and I am currently not tracking it (extra money on next years tax return).

I want to start saving 300 per month for a travel fund...We got two big trips this year, My Sisters Wedding (well she eloped so now, visit my sister and new brother-in-law) and MY DH brother's first child (got to visit the new baby).

[Ima saver]

I want to earn at least $20,000 in interest.

I want to save and put at least $20,000 in the $20 challenge.

We NEED to take a real vacation, not a trip to florida for a visit!

[Broken Arrow]

Here's mine.

[jIM_Ohio]

Goals I will achieve

Get mortgage pay down account created (mutual fund to invest in instead of paying down mortgage).
Get Roth fully funded before twins (arriving in June) have daycare expenses
Have 4% bond position by year end.


would be nice-get 200k in all accounts
Have 160k now, I think it will take 2 years to reach this.
At 200k, my asset allocation gets more aggressive

[notmeimprancer]

Checking to see if I can post, before I try. Sorry-

[notmeimprancer]

Hi - I recently came into an inheritance of several hundred thousand dollars, which I currently have in my credit union savings account. I have bills that I'm paying on - interest free, penalty free - and would prefer to continue payments as I have been, letting my savings sit there and collect interest in case of another "rainy day", as well as investing some in CDs, instead of paying a big chunk out all at once to pay these bills off. The creditors are fine with the payments I'm making. Is this a wise decision, or would you suggest just paying them off?

[Ima saver]

What kind of interest are you making? You probably should start a new thread for this question. This thread is about your 2008 resolutions!

[jIM_Ohio]

Originally Posted by notmeimprancer

Hi - I recently came into an inheritance of several hundred thousand dollars, which I currently have in my credit union savings account. I have bills that I'm paying on - interest free, penalty free - and would prefer to continue payments as I have been, letting my savings sit there and collect interest in case of another "rainy day", as well as investing some in CDs, instead of paying a big chunk out all at once to pay these bills off. The creditors are fine with the payments I'm making. Is this a wise decision, or would you suggest just paying them off?

I'd start this as a new thread.

I would provide this info:

1) amount of inheritance
2) amount of debt (interest rates, minimum payment and total owed)
3) income and budget
4) current age and current retirement savings.

[RedHotLama]

I havent made mine yet. But my wife and i are looking at saving about $30k this year to go towards a house, plus i want to save about 10k for a car.

[gackle]

Originally Posted by Ima saver

We NEED to take a real vacation

I second that. I keep telling DW that New Zealand is on the 2008 financial resolution, but she keeps saying 2010. She wears the financial pants in our family so she's probably going to win out. Houston's wearing a little thin.

[Ima saver]

We have been on 3 trips to florida to visit family. I want to go somewhere and NOT visit anyone. I also plan to pay off my car! No new debt in 08!

[gackle]

You have to admit though, visiting people is the frugal way to go. Lodging is usually free. On the other hand, it is nice to take a vacation alone as a family without obligations to other family members.

[Aleta]

I heard of one resolution that was at the top of my list and it was laughing everyday. It is the one resolution that we all can do. It doesn't cost anything and it is very healthy. I heard about this one on the morning shows early on in the year.

Also, so many of our resolutions we end up breaking and this is one that is doable.

[Ima saver]

That is a good one Aleta! I can do that one!

[Cassandra]

My goals for this year are to contribute at least $1,000 to my IRA. I plan to by withdrawing the interest I earn on my regular savings and putting it in my IRA on a monthly basis. Over the summer I will also increase my monthly contribution by adding an additional $150/month to my IRA. My tax refund will also go into my IRA.

I also want to start doing surveys and saving the money earned. I'm thinking of opening another savings account that will get less interest but will be easier to access than my current one. The new one will be used to help cover monthly expenses when I come up a little short. That way I don't have to touch the money that is earning more interest.

Cassandra