Three Personal Money Goals For 2019

It is the last day of the first month of 2019. Therefore, it is time to put pen to paper regarding my personal money goals for the year. I wrote about personal money goals at the beginning of the month and penned out a few ideas. Sometimes it is helpful to see what someone else is doing. Because of that, I thought I would share my commitments for the year.

Number 1: Save A Six Month Emergency Fund

My husband and I have always made a point to have a small emergency fund liquid and available in our savings account. We have been pretty lucky over the past 5 years to cash flow any emergencies and have not had to touch this money. That being said, we don’t feel very protected with just two month’s worth of expenses saved. This year we have decided it is time to save six months of living expenses in the bank so we are completely prepared if (heaven forbid) something happens and one or both of us couldn’t work.

Number 2: Pay Off Our Personal Loan

We have a personal loan from consolidating credit card debt about four years ago. The interest rate isn’t too bad. However, we realized that if we just buckled down this year, we could afford to pay it off. This will save us interest and will allow us more disposable income once it is paid. We are so excited to check this one off of our list!

Number 3: Contribute Double To My Husband’s 401k – “Personal Money Goals”

This is the one we kept saying we would do after our personal loan was gone and after we have our emergency fund built up. This year we decided to stop making excuses and just go ahead and “up” it. What is the harm? We plan to double what we contribute on a weekly basis even if we have to give up some little splurges to do so. Living with less now means we are more prepared for the future…and that is a great feeling!