Ask the Readers: Do You Have Financial Resolutions for 2013?
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The new year is finally here! It's time for a fresh start with new goals. Most people tend to set new years resolutions for themselves. These can range from exercising more to eating healthier to spending more time with family. Some people will even set financial resolutions for themselves!
Do you have financial resolutions for 2013? If so, what are they? Buy a house? Pay off debt? Save for retirement?
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My budget is pretty tight as is, but in 2013 I plan to not waste money on the little things. A few dollars here and there add up over the year.
My financial resolution this year is to save $100 a week towards a down payment on a house. I don't live in an area where I'm interested in buying, and I'm currently working on paying down my student loan debt, so I figure $5,200 at the beginning of 2014 will be a nice start towards my down payment on my first home since I have a couple of years before I'll be looking to buy.
My goals are to pay off our home equity loan and a credit card, and to open some type of an investment account for our granddaughters.
I have just started a new job that includes retirement benefits, so I have enrolled in them.
I resolve to save for my kids' college funds.
This year is working on pumping up our emergency fund, redecorating a few rooms, and saving up for a vacation we'd like to take in 3 years! SO exciting!
This is the first time I have admitted in public to having $14,000 in credit card debit. Our main financial goal is to pay this off. My husband is retired and I am a freelancer whose income took a big nose dive along with the economy. That's how the debt got so high. I'm now working a lot more, and we are getting back on track. We sold our house in high-priced Silicon Valley and bought one free-and-clear in another area, so we are now mortgage free. We have paid off one higher-interest rate credit card. We have $15,000 in emergency savings, which could take us through one year if it had to (along with husband's social security and 401K payments.). So now we are focusing on the last of our debt--that last credit card (at 9.75 percent). We have set an 18-month goal for repayment and have set the budget and spending plan to reach it.
Have you considered using some of the emergency fund to pay off the credit card. I can't imagine that you're getting 9+ percent interest on that.
Resolution? I rarely make a set resolution as I am one of those who find it hard to carry out to completion. My resolution, if you want to call it one, is interrelated, not to just money.
Yes, I wish to earn more money which is a "financial goal", but to make this happen I must do several things! I need to pay more attention to my financial software, like put in the data I never have. It is about time I learned more about the financial options I have available to me.
Most importunately, it is necessary for me to continue to build up my physical stamina. This makes it possible to carry out the physical and mental challenges ahead that will lead to more income. I do not know about others, but my mental abilities are so connected to my physical state.
Therefore... my resolution is to take care of myself which in turn will help me acquire a positive financial income in 2013
I need to start saving more money
My husband and I are going to put 25 dollars a piece into our savings account on each payday this year for 2013
We 're planning on paying off our car this year, a couple years early.
I have several financial resolutions for 2013, one of which is to give away 12% of my income.
My resolution is to boost my emergency fund
My resolution is to keep up the exercise plan I started last summer - keep it going, but be more consistent this year.
My resolution is to have my new baby in Spring without going into debt despite taking a pay reduction over the next three months.
My financial goals for 2013 include paying down a small amount of debt, increasing my secondary savings, and increasing my earning potential by focusing on improving my business! Big year - can't wait!
Financial goals 2013: Pay off all credit card debt by: Budget and operate on cash only basis. Utilize ebay, amazon, yard sales, used book stores and apply all profit to pay off cards. Plan menus, utilize internet to find low cost meals, coupon & sales combinations, garden, and barter to cut grocery bill by 50%, freeing up more to pay on debt. Line dry clothes. Study financial blogs for ideas to reduce other expenses as well as encouragement. Exchange services with friends to learn new skills. Limit errands. Compare rates for services; call current provides and ask for better deals. Think twice before purchasing. Reduce. Reuse. Be aggressive.
Yep. I would like to pay for flooring for our house and I'd like to pay off a line of credit. The cost is going to be around $3000 for the both of them or $250 a month.
I'd like to retire our car loan. It's less than one year in on a five-year loan, but I really dislike the monthly payment. It's a lofty goal, but I'm hoping to get it down as much as possible.
Continue my goal of being smart with money is my goal for ths year and beyond!
my resolution is to pack lunch more often... I spend way to much money eating out every day!
We had a crazy year of fostering a baby girl this year and with that came some debt so we are going to try to pay some of that down.
We just cranked out a new budget for 2013 and it includes saving a tad more each week. As our finances are already fairly tight, it will be a challenge, but we're hoping to have an additional $700 set aside by the end of 2013.
I want to pay off credit card so that I am able to move to a new home in a new city and state!
I'm planning to pay off one of our loans this year and boost our emergency fund
I would love to make a profit on the stock market this year and save it towards putting a down payment on a house.
Planning to put more toward my IRA/403B in 2013. Just haven't decided which one would be the best fit. I also need to wait to see what the fiscal cliff will do to the pay check.
My resolution is to get our emergency fund up higher, pay all the medical bills as they come in for our baby due next month, and communicate better with my husband about the big upcoming expenses we will have in the next few years (larger car, house, saving for college, etc.). Also, we are going to max out our Roth IRAs for 2013.
To save more than I spend!
I'm planning to review my retirement fund investments and look for any other alternatives for long term financial growth.
I want to increase my contribution to my retirement account and put more money toward my new car fund. My goal is to buy my next car with cash.
We've been chipping away at medical and student loan and other debt for some time now, but we actually put numbers to that debt for our financial goals this year. And we created savings goals to take care of some needed repairs around the house that we otherwise might not save up for. Using budgeting software, we have budgets and have decided that when we have money left in one or more of them at the end of the month, we will roll that over into our savings account. And we also created a savings goal using the budgeting software to help us track how much progress we're making on the goal too.
yes. i would like to fully fund our emergency fund.
Yes, we want to save up enough for a cross-country move.
I'm planning to concentrate on paying down my mortgage. It's the only debt I have, and I owe approximately $45K.
Would have to be save for future expenses. Running out of money is never good.
My resolution is to stop spending money online. Someday it will be the death of me!
Budget an emergency fund.
We plan to save 10k towards emergencies, money for kitchen remodel, car and patio, repay one loan in full, and pay at least $500 extra towards a school loan. Lots of plans, but we think we can do it!
My 2013 resolution is to buy no new clothes. I went through my closet last week and got so disgusted with all the things I'd bought on sale and didn't really care about. I can't think of anything that I could possibly need to buy in the next year, so I'm cutting myself off with a hard and fast rule. It will be a stretch, but I hope I can make it.
1. Start a freelance side job and make at least $5,000
2. Stop buying junk I don't need on line
3. Contribute an extra $5,000 toward my home mortgage
4. Maintain all resolutions I achieved in 2012
My goals are at least somewhat financial since they relate to my blog:
500 subscribers
50 unique visitors per post day
Payout from AdSense
I just published new posts yesterday and today, so feel free to come read, comment, and perhaps subscribe. :) Happy New Year!
I resolve to continue paying down old debt. Also, I'm on board for the 'compact'...buy nothing new in 2013 (with a few exceptions like food).
I have a handful of financial goals for 2013, but my main goal is to save 6 months worth of expenses. I'm accomplishing this by adding 10% of every paycheck into my savings account, along with any additional cash that comes my way, such as Christmas gift money and cash back rewards money from my credit card. I also set up my accounts so an additional $20 is automatically transferred into my savings account every week. As a result, I'm planning to reach my goal by April 2013!
I just paid off my husband's personal loan and my own so my 2013 financial goal is to pay off our credit cards. I'm using the snow ball technique to use the savings from each paid off debt to pay the next one.
My goal is to make more money this year to pay off debt--the rest of our "new" 13 year old car, our house and our student loans.
Stay the course.
Just keep doing what I am doing because it is working.
To do more comparison shopping, waiting for sales, and not getting tricked by those buy-one-get-one-half-off-sales.
Absolutely. I've resolved to pay off my car, and pay down my credit card. I've already paid off the car, and believe I can get rid of the credit card in about eight months flat.
Here's my blog post about my 2013 financial goals! http://faketillyoumake.typepad.com/fake_it_till_you_make_it/2013/01/2013...
My money goal is to buy a house with my husband. Or maybe build. Okay, maybe our goal is to make a smart financial decision about the house and make it happen.
I have several financial resolutions but the most important is to sell my current house so we can move into a condo in a neighborhood that is more central to our life.
I plan on cooking more instead of eating out so often!
This year I'm going to do a better job at investing my money. I want to start practicing income investment strategies such as covered calls to earn a better return on my investments. This combined with a tight budget should get me on the right path to a brighter financial picture.
One of my financial goals for 2013 is to save between $2,000 and $3,000 for my emergency fund. I also want to tithe consecutively for 12 months.
pay off student loan and car loan!
Saving for a decent vacation
I'm going to cut the cord on cable and pay off one of my students loans!
Buy a house!
My financial goal is to pay off our last credit card and start saving to buy a house.
My resolution is to put my twins through their first year of college without adding any debt. It appears my son might attend a rather expensive school, which means my planning skills will be pushed!
Save more than I spend.
We're focusing on one of our credit cards, at the moment. I'd really love to make a huge dent in it this year, but any sized dent is better than none at all! :)
Trying to stay within our budget better.
My 2013 financial goal is to share what I have learned with my son and daughter-in-law to help them improve their financial situation and to provide the seed money monthly for a fund for my 3 month old grandson so that he will be better off as he gets older.
My resolution is to save at least 25% of the down payment for my first home! My strategies include 1) taking up an additional job / free lance opportunity 2) setting aside $1,300 per month 3) Make my own food and eat healthier while only allowing myself to eat out once per week or for special occasions like birthdays, holidays, anniversaries, vacations, etc.
Our financial resolution for this year is to buy a house for investment with 20% down payment. We are also planning to invest internationally. Below are the small size goals:
1. 6 months emergency fund (already done. but need to maintain it)
2. Move travel (both domestic and international) fund to savings account for a better interest
3. Invest all the money after emergency fund + some cushion
4. Stick to the budget no matter what the situation is
5. Have a financial meeting during the first week of every month.
My financial resolution for 2013 is more thinking before I purchase to curb impulse spending. We've been on a tight budget for awhile and I notice that sometimes I "snap" and seem to try to rebel against my own best interests. So I'm trying to not buy anything that I don't plan to purchase in 2013.