Happy New Year!

A new year is here. A fresh start. A time to evaluate progress towards old goals and implement new goals. I didn't set any new year resolutions last year, but I did set a few goals around mid-February

1. Fund a $1,000 emergency fund - ACCOMPLISHED I was able to meet this goal by pairing down my expenses and funneling any extra money into a high-interest savings account.

2. Pay off my credit cards - IN PROGRESS I didn't reach this goal. However, I am very excited and pleased with my progress - as of today, my credit card debt is $2,742.00. I've paid off all but 1 card!!!! And my debt has been reduced from $7,986.22! I've paid off a total of $5,243.22! Even though I didn't meet my goal, I have significant progress towards it! I'm so encouraged. I'll have the rest of it paid off by March.

3. Pay off medical bills - ACCOMPLISHED Unfortunately I didn't write down the total amount of past due medical bills. I know I had three bills and I'd estimate the total was between $600 and $800. I set up payment plans with each provider, and stuck to my set payment amount of $50.00 until the bills were paid in full around August of 2008. YAY!


I'm very pleased with the progress I made towards reaching my goals for 2008. My goals for 2009? Planning a wedding and finding a job!

Oh, Happy Day!

Sunday was my birthday and my guy asked me to marry him! Yes!!! I'm getting married! I'm sooo excited and happy and overjoyed and filled with emotions! I love him so very much and he's made me so happy! He proposed in the most special way and did an excellent job selecting the ring! It's absolutely STUNNING!! I LOVE IT!

We're shooting for a summer wedding and we'll probably foot most of the bill. This new development will definitely change my financial goals for 2009! For one, I won't be able to save as much money because most of my expendable income will probably be dedicated to the wedding.

We haven't set a budget or anything as of yet. Once we get everything settled, I'll post it here and track our progress. I plan to continue to save a small portion of my income - I can't go through 2009 without making ANY progress towards my goals!

When the month is over, its over

I just finished reading an e-newsletter I receive. The gist of the newsletter was to remind us to let go of whatever tasks on our to-do lists that we didn't finish at the end of the day. I try to have the same mindset when it comes to meeting my monthly financial goals.

In January, when I vowed to get myself out of debt and into a better financial position, I didn't realize just getting started on this journey would be so HARD! I would set a financial goal for the month -- like limit my food bill to $XX -- but at the end of the month I was over budget, either because of poor planning or unexpected circumstances. It was so easy to get discouraged and fall back into my same spending habits, but each month, I reviewed my expenses, made adjustments, dusted my shoulders off, and tried again. I didn't beat myself up over how much I overspent, or how little I paid towards my debt. After a few months, somewhere around July/August, I started actually SEEING results. I was making PROGRESS!

Now, don't get it twisted, I STILL mess up and miss the mark. But, I am learning to congratulate myself on the progress that I make, and forgive myself for the setbacks I encounter. This saving/debt reduction habit is slowly but surely taking shape.

So, if you don't meet your financial goal for the day, week, month, or year, let it go! Don't give up, but don't beat yourself up about it either. When the month is over, it's over.

2008 & 2009 Goals

I'm jumping right in to this blogging! So, these are the remaining 2008 goals:

* Re-fund my emergency fund ($150 to get it back to $1,000)
* Pay off the rest of my credit card debt: $5,286

I'm on an end-of-the-month pay schedule at work. Yeah, living off one check a month can be tough. That's why I pay ALL of my bills as soon as the money hits the bank! Anyways, I have three more paychecks for 2008: October, November, and December. It's going to be tough, but I'll use all of my remaining money after tithing, paying my bills (rent, utilities, cell phone, student loans), and setting aside money for food and gas to get rid of that pesky consumer debt! Also, the extra cash I get from my part-time and blogging gig goes straight to the bank to pay on a card.

I've already thought about my goals for 2009, too!

* Fully fund an IRA
* Increase my emergency fund from $1,000 to $7,500.00 (approximately 6 months of living expenses)
* Pay off private student loan - Approximately $4,500
* Save for a new car - Approximately $6,500
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These goals are aggressive, but obtainable. I'll update them as I meet each one (or add to them).

Dear Car, please don't die...

I drive a 1999 Oldsmobile Alero. She reached the 155,555 mile marker the other day. And I think she's getting ready to quit on me. This year, I've spent approximately $1000.00 on repairs already (new tires, window gadget thingy, etc.). I really, really, really want to keep her until I have at least a decent down payment on an upgraded ride. But it's not looking too good right now. She started to overheat tonight and my mechanic brother told me to, "get ready to put some money into her." Yikes!

Having to pay for significant repairs is going to throw off my goals for the year. Should I suck it up and chunk another $500-$1000 into my car or try to find a pre-owned cheap car?