New Years Financial Resolution (post your resolution & updates)

[jasperandchar]

With the 2015 days away, instead of the usual personal/self new years resolution I thought it would be spectacular to have a Financial Resolution thread.....that we could cheer each other on through encouraging words, suggestions or just thumbs up and accountability .

You could have 1 resolution or several again it's up to the individual.

The possibilities are endless, could be not purchasing that hot beverage in the mornings, saving for a vacation, renovations ------ the sky is the limit and the possibilities are endless as these are individual FINANCIAL Resolutions

[jasperandchar]

2015 for my family is about saving for renovations/home improvements which are well overdue but financially not possible unless we tighten our belts.

My dh (hubby) is very handy so we save on labour costs.

I will admit it will take much longer than hiring someone but hiring someone is not in the budget.

1. My resolution is to put any extra $ away for renovations/projects that need to be completed, some have been started but have been put on hold because we ran out of $ or other pressing things such as life have taken priority.

My plan is to tackle the renos/projects in order of importance but as well in order of supplies, we do have some items already purchased but have not purchased everything. We have tons of drywall laying around but need to save up for spray foam insulation which is very costly (we buy the kit at HD or Lowes and do it ourselves). We also have light fixtures that were purchased but never installed....

I have compiled a list of renos/projects with a list of what supplies we have for that particular reno and also a list of what needs to be purchased for that particular reno.

__________________________________________________ __________

2. Also have my 2014 income tax installments all paid up by income tax time.

Wishing everyone great success in their 2015 financial resolution

[coupon girl]

-hubby and I are needing a new furnace -so every month we manage to save a couple hundred-til we get it
-of course it helps our morgage is paid off -but hubby also picks up extra school bus runs which brings in extra 80-100 on his pays
-I just made 383.50 over the course of the year from checkout51 ,snapsaves and angus reid
-like frugalbigmama I made 136.00 selling stuffn kiiji
-in the bigger picture it all ads up

[Frugalbigmama]

Home renos is on the top of the list here too. Wanting to sell and buy dream/retirement house so getting this house in tip top shape is my priority. Bought a huge tub of drywall filler to get all the dings etc filled and ready for paint. That is the job tomorrow. All 3 floors patched up! Just have to go through my list and get at it! Good luck everyone.

[saundyl]

-pay off the last 6000 on my business loan.
-put the 1000 into my rrsp
-no new debt
-do the 52 week savings challenge again for Christmas money.

[bargain_hunter_lola]

This coming year is going to be a rough one financially for us. DH just accepted a permanent position, fantastic opportunity for career growth and stability but he's taking a major pay cut (about 40%). I do all the finances and I know we'll make it but I'm a little worried. Things will be awfully tight until DS goes to school in September and I find a job.

So our main financial goal for the year is to just make it through with no new debt.

[lizzie bargain]

When I retired almost 5 year ago I set one main financial goal-to keep our spending at $50,000 or less per year. Fortunately our house is paid off now which makes it much easier and even with my love of travel I still came in at just under $46,000 for total spending for the year. This included 4 economical out of country trips for 2 of us per trip for a total of 8 weeks away. It was a creative combination of careful and creative research, using FF miles for some of the airfares/hotels( mainly earned from special, free credit card promotions), doing a home exchange and staying some time with relatives-of course we treated them to dinner out, local train travel with us etc. I missed out on the family holiday as I was caring for my Mum who was ill but that was okay! The 3 of us live comfortably and so as usual my financial goal is to monitor and keep our spending on/under budget for 2015. My DH claims we live luxuriously while I say comfortably-but I guess he is right compared to so many people around the world-most of us Canadian's are very blessed!

Of course we could cut out all luxuries and trim our budget more if we needed/wanted to but our plan is to continue as before while still saving/investing some for a rainy day and giving a hand up to those less fortunate . Limit our day to day spending more to needs than wants, try to get the best prices day to day( groceries, gas etc) and splurge on travel while our health still allows. Continue to monitor our investments that are very conservative. Work a little here and there for fun and fun money!

For all those younger folks who are still working their way up financially, without work, in school, on disability and/or raising young families I hope your financial situation will improve over time. Kudos to all of you struggling with a very tight budget for health reasons etc! For me personally, the things that worked best for me in terms of getting ahead financially were having the good fortune to live in Canada and get a good education, be blessed with good health( fingers crossed as DH and I are at an age where it won't last forever), taking risks in my career including moving across the country for a job which was the beginning of my move up the career ladder( this included working two jobs at once ) and I have always been frugal and controlled my spending.

When I was younger though, I also lived paycheque to paycheque as I know many of us with little ones do. I just found it easier to get ahead and out of debt in my 40's and 50's so don't lose hope. I think your 20's and 30's are particularly expensive! Try to do whatever you are able to in terms of reducing your expenses, focus on needs vs wants, moving to increase your income if need be etc. Try to find a way to live within or below your means-even if that means thinking outside of the box like getting a roomate, hosting a foreign student , renting out your garage , caring for an elderly or disabled person in your home or their's if you are suited to it, providing casual childcare etc. I think I have done all of these at one time or another! Good luck to all on your finanical goals for the year and a prosperous New Year to all( especially those seeking work and those with disability or health issues)!

[Angela273]

I am pregnant with baby #2, who was planned. Baby is due in August and because I am a high risk pregnancy this baby will also be born in Saskatoon. This means that we will be moving to the Saskatoon area to wait for baby to arrive. We will need to figure out a cost effective way to do this again. We have some friends and family up there, but things are always complicated....

We are planning on saving up money to get the wiring and fuse box updated in our house - about $4-5,000. We want to do this in the spring because baby is due in the summer.

Continuing to pay off my student loan, but I am only a substitute teacher. Still continuing to try and get a teaching contract.

[lizzie bargain]

Angela-I hope a teaching contract will be coming your way!! As well as a new baby-so special! I am sure as the years go by your financial balance sheet will improve dramatically with your careful budgeting etc. You are definitely at that expensive phase of life-child care, student loans, establishing career etc. All the best in 2015!

[jasperandchar]

-hubby and I are needing a new furnace -so every month we manage to save a couple hundred-til we get it
-of course it helps our morgage is paid off -but hubby also picks up extra school bus runs which brings in extra 80-100 on his pays
-I just made 383.50 over the course of the year from checkout51 ,snapsaves and angus reid
-like frugalbigmama I made 136.00 selling stuffn kiiji
-in the bigger picture it all ads up

spectacular savings on through various sources coupon girl, selling stuff quickly adds up

great plan of action putting what you can afford towards your new furnace

[jasperandchar]

Home renos is on the top of the list here too. Wanting to sell and buy dream/retirement house so getting this house in tip top shape is my priority. Bought a huge tub of drywall filler to get all the dings etc filled and ready for paint. That is the job tomorrow. All 3 floors patched up! Just have to go through my list and get at it! Good luck everyone.

smart lady FBM is getting your house in mint condition to get top dollar for your existing home to purchase your forever home

[jasperandchar]

-pay off the last 6000 on my business loan.
-put 2000 into my rrsp
-no new debt
-do the 52 week savings challenge again for Christmas money.

awesome financial resolutions saundyl best of luck I know you can do it

[jasperandchar]

When I retired almost 5 year ago I set one main financial goal-to keep our spending at $50,000 or less per year. Fortunately our house is paid off now which makes it much easier and even with my love of travel I still came in at just under $46,000 for total spending for the year. This included 4 economical out of country trips for 2 of us per trip for a total of 8 weeks away. It was a creative combination of careful and creative research, using FF miles for some of the airfares/hotels( mainly earned from special, free credit card promotions), doing a home exchange and staying some time with relatives-of course we treated them to dinner out, local train travel with us etc. I missed out on the family holiday as I was caring for my Mum who was ill but that was okay! The 3 of us live comfortably and so as usual my financial goal is to monitor and keep our spending on/under budget for 2015. My DH claims we live luxuriously while I say comfortably-but I guess he is right compared to so many people around the world-most of us Canadian's are very blessed!

Of course we could cut out all luxuries and trim our budget more if we needed/wanted to but our plan is to continue as before while still saving/investing some for a rainy day and giving a hand up to those less fortunate . Limit our day to day spending more to needs than wants, try to get the best prices day to day( groceries, gas etc) and splurge on travel while our health still allows. Continue to monitor our investments that are very conservative. Work a little here and there for fun and fun money!

For all those younger folks who are still working their way up financially, without work, in school, on disability and/or raising young families I hope your financial situation will improve over time. Kudos to all of you struggling with a very tight budget for health reasons etc! For me personally, the things that worked best for me in terms of getting ahead financially were having the good fortune to live in Canada and get a good education, be blessed with good health( fingers crossed as DH and I are at an age where it won't last forever), taking risks in my career including moving across the country for a job which was the beginning of my move up the career ladder( this included working two jobs at once ) and I have always been frugal and controlled my spending.

When I was younger though, I also lived paycheque to paycheque as I know many of us with little ones do. I just found it easier to get ahead and out of debt in my 40's and 50's so don't lose hope. I think your 20's and 30's are particularly expensive! Try to do whatever you are able to in terms of reducing your expenses, focus on needs vs wants, moving to increase your income if need be etc. Try to find a way to live within or below your means-even if that means thinking outside of the box like getting a roomate, hosting a foreign student , renting out your garage , caring for an elderly or disabled person in your home or their's if you are suited to it, providing casual childcare etc. I think I have done all of these at one time or another! Good luck to all on your finanical goals for the year and a prosperous New Year to all( especially those seeking work and those with disability or health issues)!

lizzie wonderful financial resolutions and your life's journey is very inspirational to all of us trying to get ahead of the game .

[jasperandchar]

I am pregnant with baby #2, who was planned. Baby is due in August and because I am a high risk pregnancy this baby will also be born in Saskatoon. This means that we will be moving to the Saskatoon area to wait for baby to arrive. We will need to figure out a cost effective way to do this again. We have some friends and family up there, but things are always complicated....

We are planning on saving up money to get the wiring and fuse box updated in our house - about $4-5,000. We want to do this in the spring because baby is due in the summer.

Continuing to pay off my student loan, but I am only a substitute teacher. Still continuing to try and get a teaching contract.

congrats to you and your family on your pregnancy, your financial resolutions sound very achievable, best of luck

[jasperandchar]

This coming year is going to be a rough one financially for us. DH just accepted a permanent position, fantastic opportunity for career growth and stability but he's taking a major pay cut (about 40%). I do all the finances and I know we'll make it but I'm a little worried. Things will be awfully tight until DS goes to school in September and I find a job.

So our main financial goal for the year is to just make it through with no new debt.

congrats to your dh's new employment, I am sure before you know it he will be quickly advancing up the ladder and the present pay cut will only be a memory.

As you are the financial advisory in your family I am sure things will be go smoothly as it sounds like a lot of thought has gone into your dh's new employment and opportunities. There is no selfless sacrifice that a mum staying home with her young children until they are of age to attend school, September will be here before you know it and you will have a job lined up and financially things will be not so tough. Best of luck in 2015 Lola!