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Wednesday, July 2, 2008

June Finance and Goal Review

 
 
Well June is done, stick a fork in the first half of the year as well. The days are getting shorter already as we head into the Fourth of July holiday, but as the sun sets on one month it is a great time to take stock of where we are as well as look at the missing few months.
 
With out further ado..
 
Highlights:
  • Stuck to most of plan - Used cash for cash bills, didn't use Cards and survived some Ninja Bills!
  • Improved Net Worth by $3455! - Mostly debt reduction, but still!
  • Back to blogging! - Missed you all. But keeping it in perspective! Moderation in all things, including moderation
Points to work on:
  • Still need to rebuild MS Money file after last computer failure...again!
  • Check mail more frequently - Avoidance doesn't work
  • Began saving for something - Need a good medium term goal that we can save for as starvation spending is grating on all of our nerves. Just feels like more tunnel is in front of tunnel!
Goals: 
  • Pay Off StateFarm CC - $2836 - Down to $2228 or $608 less! Need to pick up pace to do it...iffy
  • Pay Off Car - $4594.87 - Down to $2706,  $1888 less than the beginning of the year! Less and Less interest per payment...looking probable
  • Pay Off CC CitiBank Platinum - $8989 - Now $8749, $240 less than the beginning of the year. Not using it, still making progress, but given no bonus...no way.
  • Pay off all CC Debt - Paid off $848 since beginning of the year, another bonus causualty!
  • Save 100% 2008 Property Taxes - $4500 - $3024 Saved in E*Trade Account. Back to working this amount. Whatever not achieved will come out of Emergency fund, but would rather not tap it.
  • Keep Snowball 100% Intact - $308.43 Is the Current. Once StateFarm is paid off, it will be $654.72! Back at it in July!
  • No CC Use - For the Ninth month! Getting close to the 1-year mark!
  • Increase Average FICO-Score to 720- Without CC payoff not gonna happen this year, but Sstill getting better. Now average 700.7 over the three agencies!
  • Stick to Cash Budget System - Yep!
  • Net Worth increased by $20,000 - $9,932 so far! Halfway there. Broke the Negative $20K mark (small things are happy things!)
So goal-wise with no bonus or opportunity this year it is really gonna be hard to hit these payoff goals. All I can do is at least work my snowball, but a good lesson for my self-image...won't count chickens...

Baby Step Progress:
  • Baby Step 2 - We have paid off $20,057 worth of non-mortgage debt putting us at 29% complete. Don't know whether  to cry or cheer about that!

That's it, warts and all! Hope to do better, but god knows I have done much worse!

Thanks for all of the support!

6 Comments:

Sharon said...

Our net worth has shrunk quite a bit between the decline in housing and the stock market...probably about 50,000 in real estate and 50,000 in 401K. I'm not really concerned about the house, but I'm hoping my "retirement" starts its way up...

Sharon said...

P.S.
It looks like you made GREAT progress even without the bonus...that's a bummer, hopefully they'll make up for it next year or at years end!

RacerX said...

Sharon - I hear you on the retirement and investment numbers. I wouldn't mind only getting 3.1% at ETrade if my home loan percentage was dropping, or I could refinance...But nooooo :)

Thanks for the kind words on the progress, but it is really progress since EOM March, the last real month end review I did.

No Santa bonus for me, but right now, next years is tracking well...I just can't quit before that!

Dawn said...

It sounds like your a man with a plan! Glad your well!!!

Kansas Simplicity said...

Nice work and continued progress on your goals!! I know with the recession and challenging times, you are well positioned to be in good shape so keep up the great work and blogging too.

RacerX said...

Kansas!

Thanks much for the encouragement, but if anyone wants to see what is possible if you really work it, needs to read your blog...45%+ savings rates every month, while leading a gret life and helping people!

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