Honestly folks...I am feeling a little lost out here. I know I've made some really useful accomplishments but mostly all I can focus on is how my original goal of a $10k emergency cushion by year end now seems unreachable. I know that the key to succeeding is a positive attitude and a willingness to face challenges so I am trying to get out of this rut and re-frame my goal because my current inner monologue is bringing me down.
I was inspired by Nicole's birthday-eve reflection and thought that if I concentrate on what I have done right, maybe I will be inspired to find a way to meet my goal...or at least give it my best shot.
JANUARY
My partner and I started 2005 with about $14,000 in credit card debt and no non-retirement savings to speak of. Holy crap. Watershed moment. (More on that another time)
FEBRUARY
- By the end of the month the entire $14k was paid off (thanks in part to my bonus and the IRS)
- I opened a savings account with ING and earned $25
- I gained control of an old 401(k) that I had been ignoring worth approx $16k (duh me)
- I started this blog to help keep me accountable and serve as a repository for useful info
- I went back into debt for $3000 (at 1.9% promo rate) to purchase an asset ...a 2004 Roth IRA
- I started automatically deposting $100/mo into savings
- I entered as much historical data as I could that was missing from Quicken (three months of cash expenditures, a few retirement accounts)
- I created a budget and met it the first month (w00t!)
- Opened a checking account with free online billpay and cancelled two other billpay services which were costing me a total of $15/mo (gah!)
- Enacted my new allocation scheme for my retirement accounts
JUNE
- Finished paying off Roth "debt" which cost me a total of $15 and change
- Came in nearly $400 under our vacation budget
- Set up monthly automatic Roth contribution
The rest of the year presents other challenges...stay tuned for Part 2
I am impressed, you've done a lot in 6 months! Keep it up!
ReplyDeletekeep accentuating the positive -- we've done a lot this year. we may not make our goal, but we are trying and we are continuing to save -- that is what matters :)
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