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Friday, June 8, 2012

Plans for the new Financial Year.



Well it's that time of year again, time to reassess our financial goals for the 2012/2013 financial year. It doesn't seem that long ago that I wrote last years post.

Our financial goals for this year are:
  • Pay off the car.
  • Pay off the Credit card.
  • Put extra on the smaller mortgage.
  • Put money into savings.
Apart from financial freedom, we're aiming to get an extension on our house in the next couple of years and will hopefully be able to get it done without going into more debt, or at least minimal debt.

Our income was reduced temporarily throughout May, so therefore only minimum payments were made. What also made it harder, was from May-August we had/have 2x Car Rego's, 2x Car insurance, Home and Contents Insurance and Rates. We put bill money aside every pay so thankfully we didn't have to rely on credit or scramble to make ends meet.

Our income had since been corrected and we'll get back on the wagon and continue putting extra on the debts.

4 comments:

  1. Hope you can make it. Just plan your goals.

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  2. Yes, aim first to reduce your debt. I prefer it that way, actually. Instead of paying off your debts all at once, or in big amount without any savings at all, go for the slowly-but-surely strategy. Pay your debts off slowly along with putting up investments, like the house extension. :]

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    Replies
    1. Thanks for commenting Jaden, and thanks for the tip :)

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