Wednesday, 29 December 2010

The family money

On our recent Christmas trip away we had car trouble. Major car trouble. The kind of trouble that causes strange noises, bad smells, smoke and engine failure! This was NOT in the budget. It caught us very short and made for extreme stress. Large sums of money heading out the door without warning tend to do that. This sparked some thoughts on financial goals for the family as we head into 2011. Not just to get ahead but to protect my family for financial stress. My top ten goals are:

  1. Ensure we have adequate insurance. Contents, life, health, car etc
  2. Build up a safety net of about $10,000 over the year
  3. Set up a plan to have us out of debt in the next 5 years
  4. Stop living week to week. Don't spend every cent that we earn
  5. Use this blog to generate a small income
  6. Shop around for better deals on essential services
  7. Set up a workable budget
  8. Streamline our record keeping for both home and business
  9. Put money away to cover the kids education expenses
  10. Start on a home deposit
How about you? Any specific financial goals this new year?


Juanita said...

Those are some great goals - good luck with them!

I guess mine would be to stick more tightly to the budget so we can save more effectively and less haphazardly.

The Mother Experiment said...

They are good goals if you have enough coming in. Do you have any advice for those living week-to-week because they feel there's not enough surplus to save?

Travel Queen said...

Mine are to save enough for a house deposit as well so I plan to (hopefully, as painful as it will be!) eat out less and set aside money each pay.

Good Luck with your goals! xoxo

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