Monday, January 28, 2013

Will I ever be able to retire???

Last week I met with my financial planner and while it was good to hear what he had to say, it was also somewhat depressing. I will be turning 41 in about a month and that is making me think how much I am looking forward to retiring someday. I’m not an extravagant person and don’t anticipate being so in retirement either, but as things look right now, even without having a lot of wants for my retirement years, I will be lucky if I can retire by the time I’m 70! UGH! I really don’t want to think about working for another 29 years! It was good for me to hear this as hopefully it will be the kick in the butt that I need to buckle down and not only contribute to my 401K, but also to get back on track to fully funding my Roth IRA each year. I haven’t added anything to that since 2008. For shame! Now that I have my credit card paid of completely and am working on the car loan, I will continue to put most of my money toward that, but my goal is to also fully fund the Roth IRA this year, that’s adding $5,500for the year. This might be a little over aggressive, but I’ll give it a try! Nothing ventured nothing gained! How are you doing on your retirement goals?

Current debt: $231,114.94 ($500 car payment hitting this Friday will put this under $231,000)

Monday, January 14, 2013

Extra money???

Is there such a thing? J What do you do with extra cash, bonus money, found money…whatever you call it? I used mine to pay down my credit card and now that I no longer have credit card debt, I thought about applying it to my car loan as that’s my next target, but I recently earned a little extra money from some surveys I did and instead of putting it toward my car loan I decided to reward myself a little and put it on my Starbucks gift card so that I can enjoy a few treats. I earn quite a bit throughout the year on surveys and I seem to have a knack for finding money while out running errands, so for a little bit at least I’m going to treat myself to a few indulgences that I had denied myself while paying off the credit card. I earned Starbucks gift cards from both Swagbucks and Bing. I’m going to allow myself to treats with these bonuses at least through April while I have less discretionary income due to making my annual loan payment to my parents and paying for my football season tickets as well as all the family birthdays that come up this time of year. After that, once May starts, I don’t anticipate the big expenses that I usually have in the first part of the year. I’ll re-evaluate what to do with found/bonus money at that point.
I hope you are all having a great start to 2013!
Current debt: $231,230.18

Thursday, January 3, 2013

Credit card debt is ..........

GONE!!  I just set up my final payment on my credit card! Woohoo!  Payment will go through tomorrow and I will officially have the credit card debt gone.  My pay increase has taken affect and it's made a real difference in my paycheck.  So far, I've only spent $10 in 2013 with no plans to spend any money until Saturday.  Then I will be running all of my errands and hoping to have a quiet evening.  I'm working on planning my menu for January and will try to do the bulk of my grocery shopping then for the entire month and then make do with what I have on hand for the rest.  January is going to be my month of spending as little as possible on unnecessary items. 

The first 4 months of each year are always expensive for me as I have my football ticket renewal and the annual loan payment to my parents as well as 4 birthdays in my family by April 30.  I'm going to have to be creative about the things I come up with for those occasions, but I don't think that will be much of a problem. 

Now that the credit card debt is gone, I'm moving on to saving for the annual loan payment and knocking out the car loan.  I am working on setting up a graph to chart my progress and keep me motivated.  Does anyone know if there is an IPhone app that will help me track this? 

Woohoo!  Super excited that the credit card debt is FINALLY gone, that was the end of the debt from my divorce and it's nice to begin the year putting closure to that part of my life.  :) 

Current debt:  $231,520.74 (look at that balance going down!!!)

Tuesday, January 1, 2013

Happy 2013...

I hope you all had a safe and happy start to 2013.  I had a great time at a house party where I spent the night and didn't have to worry about driving after celebrating or risk being on the road with others who'd also indulged. 

Have you made any resolutions?  I'm still thinking on mine, but I'm hoping to have them pinned down in the next couple of days, by the end of the upcoming weekend at the latest.  I didn't quite reach my goal of having my credit card paid off completely by New Year's Eve, but I'm close, only $810.24 to go.  Should be completely gone by the end of the month, then it's on to the car loan and building up the savings. 

I'm working on myself a little bit more this year, doing things I want to do, not what others want me to do.  I need to do the things that will make me happy, regardless of what others might think of my decisions.  For too long, I've been doing things to please others, sometimes to my own detriment and that's not right. 

That's all for now, I have much thinking to do on what my goals and resolutions will be this year.  I'll be back soon with more.

Current debt:  $232,330.98  (I can't wait to see where this number is at at the end of this year)