So it's 1/2 way through 2008, and this is my mid-year status update.
Savings Goals - these have struggled this year, primarily b/c my 401(k) has done so poorly with the markets lately. I've made a few strides and put more money into my EF and other savings account. I also opened up an ING Sharebuilder account to start buying small amounts of stock, for long term investing. So I've made some progress, but I'm not where I need to be. I still have the problem of seeing money accumulate in my savings, and then feel like it needs to go to a debt, so I send it off to pay things down. At least I'm not using it for frivolous things.
Debt Goals - I am right on track with these...actually a little ahead of schedule on my Student Loan goal. I realized that my SL accrues interest daily, and right now I'm paying about $4.94 a day in interest to that thing. So I want to crack down on that principle as much as possible. I'm also almost a full car payment ahead of my car paydown goals, which is nice, and "Other" debts are right where they should be. Those debts are money I owe to a friend and my mom from the past, so neither is charging interest. And I'm paying them fairly regularly, so they are both content.
All in all I'm happy with where I am to this point. I'm still hoping for a promotion and raise at work, which will definitely help my situation. :)
Monday, June 30, 2008
Monday, June 23, 2008
$15k Paid
I've had a few extra dollars land my way this month and was disciplined enough to put them to good use on my debts and have now surpassed $15k paid of since joining the WIRR. That's 28.68% of my starting debt, and puts me at about $38.45 per day paid off since May 16th, 2007.
All of my debt goals are on track for 2008, and most are slightly ahead of schedule. My savings goals are a little behind, but mostly due to 401(k) issues with the current market.
I talked to my mortgage guy again and learned that paying off my car would allow me to qualify for $20-30k more on a house. Since I have less than $3k to go, I'm going to really focus on paying that one off while I'm still trying to ramp up my savings a little more. So I'd say I'll be in the market to buy in about 6 months...unless an unbelievable deal comes my way between now and then! :)
All of my debt goals are on track for 2008, and most are slightly ahead of schedule. My savings goals are a little behind, but mostly due to 401(k) issues with the current market.
I talked to my mortgage guy again and learned that paying off my car would allow me to qualify for $20-30k more on a house. Since I have less than $3k to go, I'm going to really focus on paying that one off while I'm still trying to ramp up my savings a little more. So I'd say I'll be in the market to buy in about 6 months...unless an unbelievable deal comes my way between now and then! :)
Subscribe to:
Posts (Atom)