Tuesday, October 11, 2016

Goals are dreams we convert in to plan & take action to fulfill...

Less than 12 weeks until the year is over.  I guess it's time to start thinking about my goals for 2017 and look back on the goals I had set for myself in 2016.  Hmm...at the moment I can't even remember what those goals were.  Uh-oh, that's a bad sign already!  Did I achieve any of them?  Well, let's take a look at what they were and then dissect them.  I'm literally cringing just thinking about looking at these.   Let me go find that old post and copy them here...BRB!
Well, I looked and looked and looked all over my blog for 2016 posts in January and realized I had not made any!  Well, I guess I could say that I met them all, EXCEPT that upon further investigating, I see that I wrote them in April.  I guess the better late than never rule applies here.  
Here's where my mind was in April 2016:

1. April 2016 pay $2,000 annual loan payment to my parents. This will leave the balance at $2,000 - Final payment to be made April 2017.  I am happy to report that I am on track with this one and it will be gone by April 30, 2017!!  Woohoo! 

2. Focus all extra funds to the Chase Freedom (ironic isn't it?!) Card that currently has a balance of $2344.56.  My goal is to have this paid down to ZERO before 12/31/16.  I change my strategy a bit on this one and it won't be gone quite that soon, but it should be gone by March 31, 2017.  It currently has a balance of $1250!

3. Next up will be my Visa card with a current balance of $5898.28.  UGH!  I have got to stop using this card for anything.  Epic fail!!  This card now has a balance of $8332.54!!!  And I have no idea why!  This means I need to go over my statements from the past several months and see what I have been spending money on and make a change.  This is not acceptable. 

4. My car loan will be my last debt, with the exception of my mortgage.  Car loan stands at $20,368.17 and I will make the minimum payment on that each month until the 3 previous debts are paid off and I can focus on the car loan.  The interest rate on it is less than 3%, so it's not one for me to fuss about too much.   This one is going along fine.  I've been good about only making the minimum payments on this and I thought focusing on my other debts, however given my response to my previous goal, this is not the case.  Grrr!! 

5. As for my mortgage, it's for my condo that I am not even living in right now.  I keep watching the value of it increase and I have it rented out, but I'm just not sure I want to keep it and be a landlord. It's finally in a position that I am no longer underwater, but I'm so undecided as to what  I want to do, I'm not going to make any decisions at the moment.  I think I'll wait and see if my current tenant signs a new 1 year lease and worry about it then.  I have a few months to think about this one anyway.   My tenant did sign a new lease for another year and he's a great tenant.  He auto drafts his rent payment to me by the 25th of month prior to the rent being due.  I've never had a maintenance issue with him, in fact, I've never even met him.  :)  My bigger concern is that even with this great tenant and his paying a fair rent on time, I am still upside down $224.81 each month after paying the mortgage, insurance and association dues.  I'm seriously considering selling the condo after his lease is up next summer.  Any thoughts?  

I guess I have some work to do on these before I can even begin to think about my goals for 2017.  I'm going to pour over my credit card statements to see how I have gone from a balance of $5898.28 to $8332.54!  This does not make me happy and I really feel I need to get to the bottom of this increase.  Once I have done this, I'll post here as to what I've found and what I'm going to do about it.  Stay tuned....

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