Samantha's goals

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Samantha
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Re: Samantha's goals

Postby Samantha » Wed Jan 02, 2013 8:45 am

Almost forgot!

2013 Financial Goals:

Pay down mortgage to $35,000. This will be a huge stretch for us without a roommate and with buying a nused car. But if we can make it, that will just be less work to do to finish slaying the beast in 2014!

Fill up both IRAs ($11,000) and begin funding 401k when eligible in April to get 1% match.

Buy a reliable used car ($6,000) and sell old car ($500 - haha).

Samantha
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Re: Samantha's goals

Postby Samantha » Fri Jan 18, 2013 11:33 am

Big news: We did it! We bought a car with cash! We spent $6,000 on a '05 Honda Civic. I am very happy, its a cute little car that will hopefully last us a good number of years while we continue to pay off the house.

So our Car Fund is drained but we're still hoping to make it to half the mortgage (68.5) by the end of February. We'll see.

Current Balance: $72,763.

LeRainDrop
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Re: Samantha's goals

Postby LeRainDrop » Fri Jan 18, 2013 2:28 pm

Congratulations, Samantha! Enjoy the new-to-you car -- you're setting a great example of success in using a car replacement fund! It's also nice that you're staying on track for the mortgage. :clap:

Samantha
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Re: Samantha's goals

Postby Samantha » Fri Feb 22, 2013 9:08 pm

Current Mortgage Balance: $68,191

We did it! We hit the halfway point!!! We are right on track to pay it off next year.

I have been on a shopping spree recently, it feels like. I got a really nice necklace for Valentine's day, and we bought new sheets and a few new bathroom accessories. When you are living a no-shopping lifestyle, anything feels like a splurge, haha.

Super excited to go on our celebratory date night this weekend! Fancy seafood... yummy!

So the next goal is for 2/3 to be paid off, which would be $45,667, and we are hoping to hit that by the end of September. And if we can make it to $35k by the end of the year, I'll feel confident we can pay it off by the end of next year. We are throwing half of our household income on this each year!!!

Samantha
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Re: Samantha's goals

Postby Samantha » Mon Mar 04, 2013 10:24 am

I wanted to record our awesome date night. It was pretty great. Wine, filet, and scallops -- our go-to expensive meal, haha. I guess we are predictable.

I am very excited to be halfway done. Although... measuring by time, we are waaaay more than halfway! We bought the house in 2007... so we've been paying on it for 6 years and have less than 2 to go! Amazing!

All of our future mortgage goals:
$45,667: September 2013 (2/3 paid off)
$35,000: December 2013 (3/4 paid off)
$23,000: April 2014 (5/6 paid off)
$ 9,999: August 2014 (into four digits!)
$ 0: By December 2014 (WE'RE DEBT FREE!!!)

When we do payoff the mortgage... I'm going to be lost. We haven't planned beyond this monster even though its only next year. We've talked vaguely about a big vacation, a kitchen remodel, and giving much more.

Samantha
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Re: Samantha's goals

Postby Samantha » Sat Mar 30, 2013 9:53 am

Current mortgage balance: $64,900.

Dropping, dropping....

Samantha
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Re: Samantha's goals

Postby Samantha » Thu May 09, 2013 8:54 am

Current mortgage balance: $59,267 !

Woo hoo, finally out of the 60s!

I cannot wait until we hit the 50k mark. I am going to be so psyched. I'll need to change my password to most of my accounts because that was the benchmark I've been looking at for quite some time, haha.

I'll need a new focus, which I think will be the $35k at the end of the year. That will be the best Christmas present I get, if we make it there.

We have also finally made it into the territory where we officially have more cash (savings and retirement) than we have in debt. IF we liquidated everything today, which we won't, just saying hypothetically... we could walk away with a little cash in our pockets.

DoingHomework
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Re: Samantha's goals

Postby DoingHomework » Thu May 09, 2013 3:28 pm

Samantha wrote:We have also finally made it into the territory where we officially have more cash (savings and retirement) than we have in debt. IF we liquidated everything today, which we won't, just saying hypothetically... we could walk away with a little cash in our pockets.


Yay!!! Welcome to positive net worth.

kaitlyn142
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Re: Samantha's goals

Postby kaitlyn142 » Sat May 11, 2013 8:42 am

Congrats on positive net worth!

VinTek
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Re: Samantha's goals

Postby VinTek » Sat May 11, 2013 9:19 am

Congratulations! To me, it's always more fun to watch positive numbers grow than to watch negative numbers shrink (that brings more a feeling of relief than of fun). So now the fun begins!

CecilyC
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Re: Samantha's goals

Postby CecilyC » Mon May 13, 2013 5:04 pm

Awesome job! Keep up the great work! Positive net worth feels fantastic, and so does watching the mortgage shrink. You should take yourselves out for a nice dinner or something when you hit 35K in December!

Samantha
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Re: Samantha's goals

Postby Samantha » Wed May 29, 2013 9:29 am

Thanks everyone! Positive net worth is feeling fabulous! Although honestly, we hit positive net worth a while ago, because we have so much equity in the house. But now just having actual CASH that is more than our debt is super motivating!

Our actual net worth is about $160k!!! Woo hoo!

So on to business: mortgage: $57,865. Payday is Friday, but since its also the 31st, I don't know that the mortgage payment will clear by the end of May.

We're hoping to hit $50k by August but that may not happen... We're right behind you Cecily!

Samantha
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Re: Samantha's goals

Postby Samantha » Mon Jun 24, 2013 8:50 am

We're working like crazy to make extra money and throw it on the mortgage. Hubby made $400 on the side this month, and received an unexpected $100 rebate. I have worked overtime as usual!

Mortgage balance: $55,035.

It will be paid again this week, another $500. We are on track for $50k in August.

DH's company has just switched to biweekly checks instead of bimonthly. We need to revisit our budget as this means each of his paychecks will be lower (but he'll get two 'bonus' checks each year, like I do.) I don't know if this is good news or bad news? I guess its sort of neutral news because I can't think of a good or bad thing about it.

CecilyC
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Re: Samantha's goals

Postby CecilyC » Tue Jun 25, 2013 7:30 am

Woohooo! Great job on the mortgage. Keep on keepin' on!! :party:

CecilyC

Samantha
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Re: Samantha's goals

Postby Samantha » Tue Jul 23, 2013 12:34 pm

Operation Murder the Mortgage: $52,468.

Getting there, slowly, slowly. Steady wins the race, right?

This month DH took some scrap metal to recycle for a snowflake of $280!

BUT we've had ~$400 in unexpected costs arise this month,too: filling a cavity, suit rental, passport renewal. Unrelated, haha, although that might have been quite a story. We're trying to wriggle them into the regular budget, but my Misc fund is negative $150 right now, so something's got to give. Any ideas?


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