Examination – Revisiting 2024 financial goals

I just published a post about my financial goals for 2025. It’s almost the end of the year, so it seems like a good time to reflect back on my financial goals for 2024 and see how things went.

Short-term saving

I continue to use Capital One 360 As a way to save money in short-term savings with lots of different accounts for different things (e.g., emergency fund, car repair fund, semi-annual dues, etc.). My main goal here was to stay consistent with savings and I did just that.

In addition to Capital One, at the beginning of the year I opened a brokerage account. I deposited a little money here and there throughout the year (averaging about $50-$100 per month). I recently wrote about how I plan to increase this amount for 2025 to approximately $200 per month. Throughout the year, I also started using some CDs to earn a slightly higher return on some of my savings. I still have most of the savings quite liquid. But I’ve created 4 different CDs, one due each quarter, so I have a rotating pot of liquid cash on hand.

I would say I met my short-term savings goal for 2024.

Investments

I increased my investments from $10,650 in 2023 to $15,490 for 2024. I expected to increase my investments even more in 2025, to just under $20,000 for the year. Note that this does not include my mandatory retirement account where I invest 7% of my employer-matched salary dollar for dollar (for a total of 14% invested from the top of my salary).

Once again – I will mark myself as a check mark for investments. The investment target for 2024 has been achieved (And it continues!)

religion

I didn’t have a big, huge debt goal for 2024. My only debt now other than our mortgage is my student loans. I continue to make a monthly payment on those loans. Every year I file paperwork to verify my employment and eligibility for Public Service Loan Forgiveness. I now have 24 payments remaining before I’m eligible for PSLF. The loan forgiveness program requires 10 years of repayment while working in public service.

Why is my eligibility date November 2026 instead of August 2025 (which actually marks 10 years in my current job)??? I don’t know. Navigating the student loan industry has been one of the most unnecessarily challenging and confusing things I’ve ever done. I swear, the paperwork needed to buy a house is simpler and easier to understand! So I resigned myself to the fact that my debt would be forgiven for about a year after My initial expectations. I still have two years to go. In the meantime, I will continue making my monthly payments. My goal (continuation of the status quo) was achieved.

He travels

One of my goals for 2024 was to travel! I went to Peru in February for work (but spent the weekend at Machu Picchu for fun). Hubs and I went to Italy in April and May. And we took many small, short weekend trips of all kinds – the whole family, me alone, me with the hubs, me with my mom, etc. I really made the most of my vacation this fall. Another item crossed off your 2024 financial goals list!

summary

amazing! Looks like I achieved all of my 2024 financial goals, and then some! I’ve increased my savings and investments higher than I originally expected, and I plan to make further increases next year. I’m ready to get a raise for next year, and if things go as expected, I’ll be eligible for a raise at the start of the school year next August. This will help me increase my savings and investments, and perhaps at that point I will have hired a wealth manager or financial advisor to help us with some of our investment strategies.

What are your financial goals for 2025? How did you do on your financial goals for 2024?

The post Check Up – Rethinking Financial Goals for 2024 appeared first on Blogging to Get Rid of Debt.