One of the reasons why I don't bother with date specific goals anymore is because I can't keep them. Something always came up to either speed up or delay the goals. Perfect example is this:
I initially planned to get a Yaris back during July. That plan was then pushed back to July of next year. Then some price and model adjustment and well, I'm now the happy owner of a Toyota Camry instead. Got it for $6k.
Title of our place was also transferred over to my name and with it came all the responsibility of an owner. I had to set aside $5k for the rent account and a monthly outflow of $1k.
Since the car cost less than I anticipated, I decided to fully funded my IRA. Which meant another $3k out of the saving account.
Earning for November is also the lowest YTD.
On the bright side, I managed to save $500 per month for both October and November.
Decimated my saving
November 28th, 2009 at 12:59 am
November 28th, 2009 at 02:33 am 1259375628
November 28th, 2009 at 11:49 am 1259408985
Nice looking car.
November 28th, 2009 at 01:09 pm 1259413761
November 29th, 2009 at 01:05 pm 1259499937
The thing about date specific goals is that when life throws a curve-ball and you miss the goal...
you feel bad... when you shouldn't... My basic savings goal is to have more savings as each year goes by..
Also you fully funded your IRA - which is a GOOD use of savings ! :-)
November 30th, 2009 at 02:38 am 1259548724
You know what? In a way, that's also why I don't have specific goals. I don't have a problem with motivation. Quite the opposite, I'm quite impatient. Unfortunately, reality moves slower than I would like, and often times, I end up disappointed. So, that's why I don't set specific time frames or deadlines anymore. I figure I'll get there when I get there, and I should try to enjoy the way there instead....
I just wish I would get "there" already.
December 4th, 2009 at 06:19 pm 1259950740
Jerry