A Review of Our 2008 Goals
As 2009 rings in, it’s time to review our goals and make new ones. 2008 was a particularly difficult for my husband and me as we had to face some difficult challenges, foremost of which was the death of hubby’s mother in September.
Here are our 2008 goals and how we fared against our goals:
* Beef up our liquid savings to PhP500,000
Status: Php100,000 short of our goal
Hubby’s mom was hospitalized for a month and died shortly. We had to shell out some money to pay for expenses incurred from the hospitalization: gasoline and food cost, toiletries needed in the hospital, clinical tests, etc.
Hubby also changed jobs. Prior to that, he was on an unpaid sabbatical leave and we had to touch our emergency fund to pay the bills. In hubby’s desperate attempt to immediately land a job, we flew to Singapore to attend a job fair. PhP26,000 (earned from my Ebay business) was initially earmarked for our anniversary Hong Kong trip. And because of the unplanned Singapore trip, we had to shell out another PhP30,000 for the Hong Kong trip. And yes, the Singapore trip wasn’t fruitful.
The last factor that contributed to our failure to keep this goal was the purchase of a second-hand vehicle. Because hubby switched jobs, he had to surrender the Toyota Vios, which his previous company provided him. We found a second-hand, 13-year-old Daihatsu Feroza that we purchased for PhP158,000. And because I didn’t want to touch the money we had in the bank, we borrowed PhP100,000 from my father, payable for 10 months at five percent interest.
* Cut hubby’s credit card debt by half.
At the start of 2008, hubby’s credit card debt was at a whooping PhP100,000! His goal then was to cut it by half at the end of the year. Thanks to a raise he received from his old company and for being more disciplined with his purchases, his credit card is now down to Ph60,000. Yes, that’s only 40-percent but P10,000 of that is really at zero-percent interest rate.
* Travel abroad for our anniversary.
Looking back at 2008, we did good in some areas and did really bad in others. 2008 was a difficult year for us and we hope 2009 will be a lot better.