“Every goal, every action, every thought, every feeling one experiences, whether it be consciously or unconsciously known, is an attempt to increase one’s level of peace of mind.” – Sydney Madwed, poet for the business world.
Goals are good but it’s often the journey that’s more important. Although we haven’t reached our financial goals for this year yet, we’re on a disciplined path to get there. Here’s a recap of what we set out to do in January:
- Put $300 lump sum payments on our mortgage every month ($3,600)
- Make a healthy contribution to one TFSA ($8,000)
- Save for and take a great trip ($4,000)
- Do not incur any new debt ($0)
At the time of this post here is our update to you:
Keep on paying that mortgage debt
Even though borrowing rates remain dirt low and I’m struggling with doing this now and again we continue to pay down our fat 6-figure mortgage using lump sum payments. In terms of meeting this goal in 2013, we remain right on target.
Load up the TFSA
Earlier this year, I maxed out my TFSA and since then we’ve been focusing on my wife’s account. With contribution room carried forward from previous years, we’ve got considerable ground to make up, but we’re all over it. Year-to-date we’ve invested about $5,000 in her account by saving regularly every month. With some cash there now, I’m tempted to buy some ZDV for monthly income, National Bank or Telus stock. The financial experts have been over Telus, which is good for buyers. Thoughts?
Save to have some fun
We love to travel and this year, we’re planning a trip with friends. Since my last update the flights are paid for. I figure we need to save about $1,000 USD for this trip and we’re working on that now.
Do not go into the red
Michael James on Money would be happy to know, we haven’t taken on any new debt yet this year. Heck, my wife and I are very happy we haven’t taken on any new debt this year! I hope that continues.
Got any comments on our financial goals? How are your goals coming along this year?