October was a pretty monumental month for us: we replaced Old Blue Van with a new-to-us car! I’m so proud of my husband for his willingness to drive a old, barely-running van for the past few years in order for us to be able to save to pay cash for a house. His sacrifices paid off because he now has a very nice, very reliable vehicle which gets much better gas mileage and should last him for a good many years to come.
This is the first time we’ve ever had a vehicle that had less than 60,000 miles on it and was only a few years old. And it feels really, really weird. Almost as if it’s a rental car or something.
We were able to get a great deal on it — even a little less than our budget! The original sales receipt from the car’s initial purchase was in the glove box and we were pretty shocked to discover that by buying it three years old and with 30,000 miles on it, we got it 50% off the sticker price. If that’s not proof that you can save money by buying used, I don’t know what is.
So, here’s our current list of Financial Goals:
1. Significantly increase our giving to needs in our community and around the world. This is an ongoing goal, so we’re keeping it uncrossed off from the list.
2. Pay cash for a replacement washer and dryer for our very used set.
3. Pay cash for a replacement for Old Blue Van.
4. Pay cash for a couch for our basement family room.
5. Pay cash for bunk beds for the girls.
6. Fully fund our IRAs.
7. Bump up our retirement savings to 10% of our income.
8. Fund our children’s educational savings.
9. Double our Emergency Fund Savings (Instead of having around six month’s worth of expenses set aside, we’re planning to set aside a year’s worth of expenses.)
10. Save for our next BHAG.
Our goal for this next month is to buy a couch set for our basement family room. We already have the money almost saved, we’re just looking for a good deal. I’m anxious to get some furniture in our completely bare basement family room so we can offer people somewhere to sit other than the floor!
We’d love to hear about your recent financial goals and successes! You can post about it on your blog and leave your link in the comments. Or, if you don’t have a blog or would rather share anonymously, feel free to leave your update in a comment. Let’s all keep each other accountable to be better stewards of our resources!