A Little Extra Money To Put Towards Our Goals

Our insurance business is doing really well lately.   After four years of working on our website, my husband’s efforts have paid off, and the website is ranked number one on google for the keywords he targets.   Business has been good, although we’ve both been busier than ever…

A happy result of all the extra business is that our paychecks and dividends from our corporation will be higher this month than they have ever been.   So what to do with the extra money?   Since we laid out our financial goals for the year back in December, we don’t even need to wonder about what we’ll be doing with any extra paychecks.   We’re still working on goal number 1, which is to max out the HSA, so that’s where the money will go.   And once that’s finished, we’ll be moving on to my husband’s IRA… I suppose if we managed to max out the HSA and both IRAs and put an extra $5000 into our HELOC before the end of the year and still had extra money (not likely…) we could look for other things to do with it.   But since we have such concrete goals that are already a bit of a stretch for us, there isn’t any temptation to go on a shopping spree when we happen to end up with more money than we expected in a given month.

It’s definitely helpful for us to have our goals so clearly laid out, and to have them be such a large percentage of our total income.   For us, this works much better than just saying “we’ll save as much as we can” or something like that.