Tuesday, March 30, 2010

atTENding to Our Finances in 2010 March update

Time to update our financial goals, which I posted at the beginning of the year.

The bad news in March was that my husband lost his job.

The good news is he started a new job yesterday!

The job loss was expected.  About a year ago, his company decided to consolidate at their headquarters and close his branch office.  He was offered a job at the headquarters, but we decided to turn it down.  He started looking for a new job last summer, and received a job offer in the beginning of March, just a few days after his previous job ended.

We are very thankful he was able to find a job when we know so many are suffering.  We are thankful that his previous company continued his employment instead of letting him go immediately after we turned down the move.  And we are greatly thankful that his company provided severance pay, which we have lived off of this last month.  Once his paychecks resume, we will be able to put the unused severance pay toward our financial goals.

So for now, here's the status of our goals:

  • Save up and pay cash for the expenses of my daughter's bat mitzvah by July 2010.  We started the year having saved 58% of the necessary money.  We are now at 78%, no change from last month.  We expect to be able to complete this goal with the unused severance money.
  • Save up a proper emergency fund by December 2010.  Right now this is funded at over 100% with the severance money, but we are spending it down with living expenses.
  •  Once those two goals are finished, pay off our home equity line.  No action on this goal.  We did pay the interest accrued on the loan.  Since we hope to have the first two goals completed soon, we will be able to get to work on this very challenging one!
How are you doing on your 2010 financial goals? Post them (or a link to your blog) in the comments.

Check out more financial goals at Saving on a Shoestring @ Cha-Ching on a Shoestring and Coupon Teacher.

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Rockin Momma March 31, 2010 at 12:33 AM  

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Coupon Teacher April 1, 2010 at 3:28 PM  

When you list your goals out, it is easier to follow them! Thanks for linking up!

Nancy April 2, 2010 at 10:07 AM  

Wow, that is great that he got a job offer so quickly - I bet it is a load off of your shoulders! We also have goals and a budget that we try to adhere to - some months seem easier than others. http://www.chachingonashoestring.com/2010/04/01/saving-on-a-shoestring-update-share-your-savings-updates/

Stefany April 3, 2010 at 7:14 PM  

Hmmm, I didn't have any specific goals but I am working on making our financial situation better. I have money in our emergency fund and have been building on that. Yay!!! I am doing Financial Peace University and that is a definite step in the right direction. :)

Thanks for linking up with Saturday Sound Off!

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