June 2008: Progress Update

Photo Credit: ivanx

It’s the beginning of the month and I’m reviewing some of my goals for 2008 with you. As always, please leave any suggestions on how I can successfully complete my goals. I also love hearing what your goals are and how you’re doing.

Let me first review my goals for this year:

• Income: I would like to earn $37,000 for the year.
• Spending: I’m going to continue cutting back on eating out to twice a week, including weekends.
• Investing: I’m going to enroll in my company’s 401(k) and meet the employer match. I’ll also continue to contribute to my Roth IRA.
• Saving: I will have $2,000 in my emergency fund by September 1, 2008. I would also like to put our income tax return into our house fund toward paying down the car loan.
• Debt: I would like to pay off my car loan by July 31, 2008. I would like to have my car loan out before I have to start paying student loans.

Here’s how I’m doing:

• Income: I’m modifying this to be a household income. The goal is $70,000 for the year. We’re good to go on this one (for the time being – with life you never know).
• Spending: May’s spending has improved. We’re pretty much settled, so there shouldn’t be any moving related expenses popping up. I have to get my car repaired this week, so I’ll keep you posted on how this is going.
• Investing: I’m still investing in my Roth IRA. Automating my IRA is one of the best decisions I’ve made.
• Saving: My husband has found a job nearby, so that will help significantly with savings since we’re watching our spending. The goal is to keep expenses low enough for one of us to pay it.
• Debt: I’m still pushing back the car loan pay off to August 31,2008 to give me some breathing room. Whenever we get the stimulus check (still waiting), we’ll put it towards the car loan. Any income from the blog is also going to go towards this debt. Thank you for all your support.

All in all, it’s been an improvement financially. We’re just trying to keep on the goals in front. Personally, the move has been going well, I just want our friends to come down and join us here in the new city.

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