Yesterday, I shared our health and fitness goals for the year. (If you don't know what I'm talking about, go here). Today is about household goals. Namely, money management and home management.
Money Management Goals
- 52 week savings challenge. $1 the first week, $2 the second, and so on for every week through the year, ending up with $52 going to savings the last week of the year, saving up a total of $1378. We will also attempt to follow this with the boys' savings accounts, though they may be helping contribute ;)
- Pay down credit card and personal loan balances. We currently have 2 credit cards and one loan. We should, if we plan correctly, pay off at least one of the credit cards this year, and make a dent in the other.
|Our new Points System (click picture to enlarge)|
- Teach the boys better home management as well as life skills. We have a commission-based system we just started up this week. It is based on a book I'm reading on how to live frugally. It's a point-based system with daily points earned in the following areas: Morning point; School point; Chore point; Round-up point; and Extra points. They have certain tasks and responsibilities under each area that must be done to earn the point for the day. At the end of the week, they earn a set amount per point (5 cents per point) and if they earn all the needed points - 30 - plus an additional 2, then they get double pay. We will deposit in their savings accounts every Friday/Saturday as earned and they can save or spend as desired but only have what they earned. In this way, they have chores to do, but also are learning other good life skills, and understand the value of money as well as the importance of hard work. So far it's going good.
- Set up a good chore management system for the whole household, so I can take control and keep on top of what needs done daily, weekly, monthly. I have previously used Motivated Moms printable chore system, thanks to my friend, Sharon (I'd link to her blog, but she isn't writing anymore :( - hint hint, as if you don't have enough on your plate with 3+ kiddies and homeschooling and, and, and. LOL.) Just this morning I heard about an app from Motivated Moms via Money Saving Mom's Facebook page! Less than a day in, and I LOVE LOVE LOVE IT already!!! So much so that I signed up as an affiliate! This is MY new affiliate link for which I earn $ on any sales through: Click here to visit Motivated Moms. The boys already like it too, and said they find it easier than looking through a list on the bulletin board to choose from. This way they can look through all that days assigned chores and pick 2-4 (plus the ones Mom already assigns them), it's color-coded for each person, and they just click the check box when done! It goes great with #1 above!
- Saturday is our new team-work clean up day. Every Saturday morning, for a couple of hours, we will work together as a family and really dig deep around here. This isn't so much a goal as it is a plan.
- Teach the boys to cook a few simple meals. I am thinking of starting with some simple things, like scrambled eggs, macaroni and cheese (although, since we generally make homemade, it's a tad bit more complicated), grilled cheese - which we have already worked on once at the end of last year - and maybe a simple dessert recipe or two.
The next post in this series will be my personal goals for things I want to do and/or learn this year.