I believe our last post included the following ...
The big news this week is that everything went according to plan! We were able to meet all of our financial obligations and make a double payment on our targeted debt! That felt really good!
For the rest of this month, I'm going to try to squeeze out another extra payment for our targeted debt. I don't know if we can, but we won't know if we don't try.
So, how did we do ...
We did very little spending while we were sick except for prescriptions ... that's really about the only good thing that came from our being sick, everything got put on hold including spending!
Did we manage to come up with enough money to make another extra payment on our targeted debt? Yes, we did!!! All total, we made 3 payments on it in July. I know it sounds silly, but every time we make an extra payment, it fires us up to try harder, sacrifice a little more and stretch what we have a little further in order to do it again.
Even with all the setbacks we've had this year, we've already met a good part of our financial goals we set for the year back in January. If we were to stop right now (which we're not) this year would be a success in terms of reaching our financial goals.
When I chose our goals for this year, I tried to make them realistic and just a little stretching. Success fuels success and I knew if the goals were unrealistic for our income that it would all be just a big failure and just as success fuels success, failure fuels failure too. It's better to set realistic goals and meet them, then set unrealistic goals and fail them.
It will take longer to achieve realistic goals but unless you have a windfall of money the turtle method of achieving our goals really has the best long-term results.
It feels really good to set realistic goals and then work hard to surpass them ... that's what we've done and are doing!
Speaking of setting realistic goals, let's see if we can make a double payment on our targeted debt in the month of August!
What are your thoughts on setting realistic goals?
That's it for this week, what about you, how did your week go and what financial goals are you working toward?
until next time,
mrs. patsi @ A Working Pantry
She looketh well to the ways of her household … Proverbs 31:27
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I am giddy with EXCITMENT for you at the extra debt payment goals achieved. Absolutely, stretch goals are highly motivating. Wishing you a FANTASTIC weekend celebrating your successes. :-)
ReplyDeleteToday, I made the last payment on one debt. It was a debt I paid bimonthly. I also paid off a small debt. My goal going forward is to put that money into two things. One is my last remaining debt and the other is to add significant amounts to my savings. Savings is broken down into: long term savings, 6 months of living expenses and I would like to get my monthly utilities paid yearly. Jean from Manitoba Canada
ReplyDeleteRealistic goals are the best way to go because if we reach for too much we get defeated and feel like quitting. But you two are knocking it out of the park! This crazy hot weather has kept us home and away from spending as well.
ReplyDeleteOur Internet went up again so we called and they lowered our rate by $25 for the next twelve months. Win!
Even with expensive extras for this weekend 's visit with one son's family we still came in under the grocery budget. Prices are still going down at a few stores here.
Our ancient riding mower had to go to the shop. It was a $2 bolt that had fallen out! But while it was there we had them do everything that needed to be done. It was only $102 and in tip top shape again.
The homeless situation here is breaking our hearts every time we go into town. There are so many new homeless and they are women which is not what we have seen in the past. The cost of housing here just keeps going up. Even in a bad neighborhood prices are now $300K . Rent has to be following the trend. I don't know how people are surviving anymore.
Wow! That is fantastic! Realistic goals? Well, during lockdown my daughter began a programme called 'Couch to 5K', despite never having run since school (and then only enough to keep the games teachers happy!) By her own admission it was very hard work at first and she could not run to the end of her street and back without wearing herself out. To her great surprise she quickly worked up to running 5 Kilometres and found she really enjoyed it. She carried on increasing the distance she ran and just a few weeks ago she ran an ultra-marathon! Running 5K seemed like an impossible goal at first, but the programme broke it down into such achievable bites that she quickly wanted to push herself even harder. I am very proud of her, but will stick with money saving, rather than running!
ReplyDeletePatsy firstly I am glad you and your hubby are feeling better. Woohoo on paying three payments on your targeted debt for July and cheering you on to get an extra payment paid on your targeted debt for the rest of this month too.
ReplyDeleteI agree setting realistic goals for me makes us more determined to achieve and surpass them rather than setting unrealistic goals and not achieving them which makes you more want to give up on the idea.
Like you we had a good July and banked a tad over $5700 which is a record but we did have three big pay days in the month too. From the beginning of September last year we have saved up the amount we spent on DH's new car and with the extra saved in July we have now saved 62.55 % of the cost of the new ride on mower we purchased too. Still more to save before we get our new garage and hoping we might get that goal later in the year.
Cheering everyone on on their hunkering down goals.
Lorna.
We had been eating down what meat we had bought on super specials so gradually over the last few months as we see good prices on meat we have been stocking up bit by bit. This week we managed to get 1.5kg of BBQ sausages on markdown for $3.16kg and a whole porterhouse for $12.99 kg (usually $35 kg plus in other stores)
I hope you guys are doing ok. Are you taking August off? I seem to remember that but can't be sure. Anyway, I miss your posts! I am thinking of doing a no spend September also. I will go back and look at some of your posts to help. Thanks, hope things are good
ReplyDelete