Honesty and Accountability

Well, I'm no longer CC debt free...I ended up using my CC over the holidays (I know, I know) because I have a history of being horrible at saving. I've made savings one of the 2008 goals that I'm tracking to keep me accountable, so hopefully that will change. I wasn't going to post the increase to my CC debt b/c I'm so close to a party hat, and I found myself paying less on the CC balance so I could put more on my "trackable" debts to get that party hat. I've finally decided that to be completely successful in this journey we have to admit our mistakes and hold ourselves accountable...so here I am. Plus, now I will get credit for all of the debt I'm paying which will re-motivate me to get rid of that CC AGAIN!!!

Changes at Work

Word on the street is that there could be some changes at work in my favor! Reportedly the upper management has approved a restructuring to our compensation plans that would allow us to obtain quarterly bonuses. They wouldn't be anything super spectacular (i.e., 5% of salary max over the course of the year), but it's better than nothing! And anything extra will just help me get out of debt faster! :)
The other news is that I'm up for a promotion, which would also mean a raise. My boss told me its in the works, and they want my input as to what direction I want to go. There are 2 possibilities for me, so I need to figure out what would be best for me in both the short term and long term. I'd also get to do some negotiations on the salary increase, so that's a plus too! Keep your fingers crossed that all goes well!

Happy New Year!

Well the start of a new year always lends it self to reflection and the setting of resolutions. Although I've never been really big on setting "New Years Resolutions", I will be setting financial goals for myself for 2008. I've learned how much posting my numbers keeps me accountable, so in 2008 I'm adding my savings progress to my blog and WIRR goals in hopes that I won't be so tempted to raid the savings to pay the debts! :) So here are my 2008 Debt Progress and Savings Goals:

2008 Year End Debt Goals - have all debts except the SL paid off and have my SL down to $32,500. (My stretch goal is to have the SL down to $28,217.96...that would put me at $25,000 debt paid of since I joined the WIRR and started tracking my progress).

2008 Year End Savings Goals
- 401(k) - $6,800 (currently at $4,376 with contributions at 5%)
- ING EF - $2,000 (currently at $0.21)
- ING Other Savings - $400 (currently at .02)
- WF Savings - $300 (currently at $1)

Best of luck to each of you in the New Year! :)