I’ve set a couple of fairly ambitious goals for 2008, and now that there’s less than 3 months left, it’s time to see where I am.
Short- to Mid-Term
Goal: Save $21,000.
Status: In progress. So far I’ve contributed around ~$17,500 to my emergency fund (for a balance of ~$21,000)… BUT, some of this money is consolidated from old accounts, so money actually saved from 2008 income is probably a couple thousand lower.
If I can save $4,500 to put into the Freedom Fund by the end of the year, I’ll exercise discretion and say the goal is accomplished. 
Retirement
Goal: Max out the Roth IRA ($5,000 a year).
Status: Done! I maxed out the Roth in July, marking the third year that I’ve done so. It’s a good feeling to know that I’m putting something away for retirement, even though the value of my accounts right now is 20%-30% below my CONTRIBUTIONS. Must repeat to self: “long-term investment…”
Vacation
This was not a listed goal at the beginning of the year, but I went to Hawaii for the first time this year. The whole trip cost me around $800 thanks to cheap-ish air tickets and a generous friend, and it was money well spent. I really, really loved Hawaii, and I look forward to going back.
Looking forward to 2009
I haven’t really fleshed out my financial goals for next year yet. But, I am currently debating if I want to splurge for a couple of trips sometime before the end of this year and/or in 2009. Together, the two trips will cost me around $1,200. Not a small sum, especially in this (melting) economy. I just keep thinking, if something happens to my income (which I don’t think it will, but at-will employment = you never know), I’ll be so happy to have that $1.2K. But, on the other hand, I’ll be so happy to go on those trips! Oh, to have a crystal ball!
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You have done an amazing job with your finances, even in this economy. Your Freedom Fund is truly fantastic – as I’ve said before, you’re an inspiration!
(I think you should go on more trips. But, that’s the travel bug in me…)
You are doing far better than I am. A few mishaps here, unexpected expenses here and a wife that enjoys expensive things. All things considered we are doing good, but it has not been our greatest year.
I am however almost at my goal of ending the year with 0 credit card balances!
Awesome job!
Good for you! That’s amazing progress really.
I’m so impressed that you are so responsible and so young. It’s really amazing to see what you’ve been able to accomplish so far. This leads to me think that you must have had some pretty great examples in your life? Mom or dad? Did they teach you about money? My mom taught me and I’m glad for it. I came to it later in life because I squandered my 20′s and now I’m getting it together now in my 30′s. Keeping on top of my money, I realize now, is insurance for my and family’s future. I can’t waste it.
Jerry
http://www.leads4insurance.com
The thing through all of my financial endeavors and even to work struggles or life’s hardships, I have to remember we’re still young.. I know personally I’m only 23.. I remember, I’m only 23 once..That doesn’t lead me to vacation alot, last year I only went to Florida, didn’t get to go anywhere else… But sometimes you have to remember just how we’re only this age once and it’s nice to splurge after the rest of the year’s hard work of saving and budgeting, and working,etc… The only thing I’d say is, I’d hold off vacations for 09 as a way to “pay yourself first”…