At the end of the year it always feels like time has slipped away for me. Writing a post on all of the positive financial moves we made in 2012 helps to shed light on this as it makes me go back through a year’s worth of posts and see that a year’s worth of time has, in fact, passed and we were not gipped by the clocks. At the end of the year it always feels like time has slipped away for me Click To Tweet
When I looked back on 2012, I realized that it was quite a fruitful year for us in terms of finances. Here’s what we managed to accomplish:
- Refinanced Our Mortgage: Procrastinating on refinancing our mortgage for six months or so actually paid off for us; when we finally decided to go through the paperwork earlier this year we were able to lock in a 3.5% fixed interest rate (down from 5.5%), and a 15-year loan (down from a 30-year loan) for an extra $200 in payments per month. The closing costs ended up being only $400, which was amazing!
- Named Beneficiaries on All Accounts: Since getting married in 2010 we had not taken the time to review beneficiaries on our financial accounts. I feel much better having sorted through all of this and making the necessary designations.
- Banked 40% of Post-Tax Money in Permanent Savings: Despite having not met our lofty goal in 2011 of saving 50% of our post-tax income into permanent savings (retirement and a savings account we do not tap for things like travel and appliances), we set the same goal for 2012. Again we fell short, but we managed to save 40% of our post-tax money in permanent savings (in 2010 we saved 29.8%, and last year we saved 38%). On top of this, we preserved all of the savings from the previous two years. Hurrah!
- Grew Our Net Worth by 29.9%: Since 2009 I have used NetWorthIQ.com to keep track of our net worth. Once every six months I plug in our numbers to see our growth. It’s great motivation!
What are some positive financial moves you have made in your own household this year?