Same goals as last year, mostly.   Bumped up IRA goal to new contribution limits (thanks to MH's raises). & added a dollar figure to keep mortgage moving down by $10K per year.  

1 - Pay cash for college

It's not a "goal" to me so much as just how we do things.  But it seems so weird to everyone else, I write it down.  

This year is probably going to be very low-spend on the college front.  I think technically I will be spending $2,000 for DL's fall semester and the college owes me $2,000 for his spring semester.  No other expenses because he is living at home.  All of MM's college expenses will come from other buckets (money already saved).  

 2 - $10,000 to savings

$1,000/month, plus interest.  Topping off with snowballs.

Although we are saving more than $10,000 ($1,000 x 12 months = $12,000), I am leaving some buffer for bigger expenses.  I will count additions and subtractions to mid-term cash savings.  But I will ignore college draw downs.  The main purpose of this goal is to fund college expenses.  

Even though I don't expect to cash flow much in the way of college expenses this year, I am still saving for MM(20)'s 5th year of rent.  

3 - $7,500 to investments

$350 per month, plus snowflakes (credit cards rewards & dividends)

Topping off with snowballs and/or excess cash saved

4 - $2,025 to mortgage

Topping off with snowballs and/or excess cash saved

Keeps us on track with $10K principal paydown per year

5 - 9% of household income to work retirement plans

This is the minimum for the match; I'd otherwise rather fund IRAs. 

9% figure does include match.  

6 - $14,000 to IRAs 2023 (MAX)

Will fund with MH's income

Total retirement savings rate is 20% of household income.

7 - Small Monthly Charitable Contribution

When I added breathing room to our budget, I added something like $30/month charitable contribution.  We've always done the bigger contributions at the end of the year.  But trying to be more mindful about how the little things add up.  & wanted to add more regular gifting with the breathing room.  When I look back, we did a few more donations that we probably would not have done otherwise but...  Pretty much failed.  At the time, MH was paying so much forward with crowd funding and everything (why I kept skipping doing even more donations).  But when I look back, it's not like an extra $300 donated ($30 x 10) would have moved the needle either way.  So I am doubling down and want to be more mindful of this budget item in 2024.  I put it in my sidebar so that it will happen. 

Even though 2023 was pretty tight and we got saved by the bell (re: in-law cash gift), I still think that these goals are doable.  If we aren't spending an extra $3K here or there on medical, auto repairs, home repairs *and* vacations...   & college too.  

These are just preliminary goals at this point.  I am just guessing on the tax side of things.  I will likely have to lower some of my goals re: paying more in taxes.  I just need to do a solid tax projection first.   This is more what I am hoping I can cover, but I keep hitting a big tax cliff and so I don't know.  Might have to reduce taxable investments (and throw more to 401K) if that is the case.  I will update once I do a tax projection.  

Edited to add: I squeaked by!  Did a tax projection today and it came out exactly what I planned for.  Phew!  Pretty good for more just starting out with a number I hoped to accomplish.  I just got lucky.  It wasn't based in any real numbers and I didn't think I'd get to stretch my raise this far.