September 2019 Goal Review

Hey budgeting buddies,

Welcome to my September 2019 goal check in. This is where we measure what I hoped to achieve to with what I have achieved.

Starting with goal number 1!

My $1,000 Emergency fund. I am not there yet, but I ran the numbers and I should achieve this by December 2019. If I stick to my budget and do not need to utilise it, then I shall reach it no problem. While some may criticize the length of time this goal is taking, please remember I am simultaneously paying debt and saving.

Goal number two is that I have paid off my overdraft by August 2020. While current numbers suggest that I am not going to make that goal. It is currently at £1,400 owing and I am only paying £100 per month. I feel like it should be a stretch goal in which I see if I can come up with a little bit extra cash to achieve this. Whether I just add a few more pounds every month, or put in a lump sum, I am not sure. However, I intend to have it paid before leaving the United States.

The third goal is that I will have “some” of the personal loan paid off by August 2020. As this is an instalment loan and has a definitive deadline; I am happy to have some saved as a pot for the account to just have the monthly minimums to be taken out, as necessary.

Due to terms and conditions, I am not allowed to pay extra monthly, without discussing it in person. I am unable to do that, so, I am essentially creating a sinking fund for this debt.  The “extra” payments I will be putting to my personal loan after the overdraft is paid, will just sit in its sinking fund until I can go in person and pay it all off in one go.

During the month of September, I have kept the six-month budget plan updated with new developments, and added months, to keep it six months ahead. This means it goes all the way to March. I am happy to say, with what it says right now, I am satisfied and hope I can stick to it, to achieve the goals.

As I stated in previous months, I have been using Undebt.it for my Debt payoff forecast. This is mainly due to its ease of use, and how simple it is. The website is genuinely helpful to figure out how much I can pay to achieve my goals. It is also incredibly easy to manipulate in terms of working out different scenarios.

These are currently the only financial goals I am working towards right now.

What goals do you all have?

Anyone trying to get more organised (like me) or have something you are saving for? Let me know.

Thank you all for reading! Much love!

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