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 Post subject: 2008 goals
PostPosted: Wed Jan 02, 2008 5:44 am 

Joined: Sun Apr 29, 2007 8:11 am
Posts: 1088
Location: Sunny Florida
I'm starting a new post for our 2008 goals:
(1) 2007 IRA - $8000
(2) Car fund - $17000
(3) E/R fund - $10000
(4) Baby fund - $5000
(5) 2008 IRA - $10000

Total - $50,000

Current numbers:
(1) $5
(2) $157
(4) $5


A. Train for a marathon.

Current results:
Nada, plan to pick up running shoes, stop watch and other supplies this weekend. First scheduled running day is Jan. 8th.


Last edited by Sam on Fri Jan 04, 2008 11:57 am, edited 1 time in total.

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 Post subject: IRAs
PostPosted: Thu Jan 03, 2008 5:43 pm 

Joined: Sun Apr 29, 2007 8:11 am
Posts: 1088
Location: Sunny Florida
Husband took a meeting today with a rep from Fidelity. I have my 401k with Fidelity and I'm generally pleased with the web site and the investment options. I asked husband to take the lead on figuring out where we should stash our IRA monies, figuring out what types of IRA investments we should pursue (looking at what we already are invested in within our 401ks, whether we have another goal for our IRA monies, etc.), whether we should invest IRA monies regularly (weekly, monthly, save up the whole sum and then invest depending on transaction costs, etc.) and he is doing so (hooray).


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 Post subject:
PostPosted: Fri Jan 04, 2008 2:07 pm 
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Posts: 458
Location: England
The powers of delegation are indeed a wondrous thing.

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 Post subject: Running
PostPosted: Sun Jan 06, 2008 8:29 am 

Joined: Sun Apr 29, 2007 8:11 am
Posts: 1088
Location: Sunny Florida
I picked up new running shoes, a digital watch for training, 2 pairs of running shorts, and 2 shirts for running. It was a good outing, got all of my supplies on sale and I'm ready for my first training session on Tuesday.

I also stopped by the mall to return a holiday gift. The mall was packed with after holiday shoppers looking for good deals. I was so turned off by the crowds and the consumption I didn't end up buying anything. My how times change.


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 Post subject: 1/7/08 numbers
PostPosted: Mon Jan 07, 2008 12:20 pm 

Joined: Sun Apr 29, 2007 8:11 am
Posts: 1088
Location: Sunny Florida
(1) 2007 IRA - $8000
(2) Car fund - $17000
(3) E/R fund - $10000
(4) Baby fund - $5000
(5) 2008 IRA - $10000

Total - $50,000

Current numbers:
(1) $5
(2) $258
(4) $5

Total: $268


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 Post subject: 1/15 numbers
PostPosted: Tue Jan 15, 2008 10:46 am 

Joined: Sun Apr 29, 2007 8:11 am
Posts: 1088
Location: Sunny Florida
2008 goals:
(1) 2007 IRA - $8000
(2) Car fund - $17000
(3) E/R fund - $10000
(4) Baby fund - $5000
(5) 2008 IRA - $10000

Total - $50,000

Current numbers:
(1) $5
(2) $358
(4) $5

Total: $368

We also have set up our new IRA accounts with Fidelity.

A. Train for a marathon.

We've completed 2 days of training. We started our program on Sunday, 1/12 and also got early this a.m. to train today (Tues. 1/15). Our plan is to run Sun., Tues., Thurs.


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 Post subject:
PostPosted: Fri Jan 18, 2008 7:37 am 

Joined: Sun Apr 29, 2007 8:11 am
Posts: 1088
Location: Sunny Florida
(3) - Our emergency fund is at $7943. I do an auto transfer twice a month the first transfer is straight savings and the second transfer is a personal escrow for my car insurance, ring insurance and real estate taxes for our investment property that does not generate income (land only). I rarely transfer any of that personal escrow money back to my checking, instead I just pay those bills as they come in but I know I have the money put aside if I need it.

Anything above $8000 will count towards our 2008 goal of increasing our emergency fund by $10,000. Goal is to have $18,000 in our e/r fund by the end of 2008.


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 Post subject:
PostPosted: Sat Jan 19, 2008 5:24 am 

Joined: Tue Apr 17, 2007 1:37 pm
Posts: 134
Location: Gulfport, Florida
Hi Sam. Just dropping by to say that I like the method you are using. Listing accounts and progress in such a simple way makes it really easy to see where you are at and where you are heading. Best wishes for your training too. New Years are fun for inspiring new work out routines.


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 Post subject:
PostPosted: Sun Jan 20, 2008 9:30 am 

Joined: Sun Apr 29, 2007 8:11 am
Posts: 1088
Location: Sunny Florida
Cady wrote:
Hi Sam. Just dropping by to say that I like the method you are using. Listing accounts and progress in such a simple way makes it really easy to see where you are at and where you are heading. Best wishes for your training too. New Years are fun for inspiring new work out routines.


Thanks Cady. Today was day 4 of training. We are doing interval training the first week was 1 minute of running and 90 seconds of walking for 20 minutes with a 5 minute warm up walk and a 5 minute cool down walk. This week we are funning for 90 seconds and walking for 2 minutes. The initial schedule is 9 weeks and we go from sitting on the couch to running 5 k.

We are tackling running the same way we tackled debt: baby steps.


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 Post subject:
PostPosted: Tue Jan 22, 2008 8:36 am 

Joined: Sun Apr 29, 2007 8:11 am
Posts: 1088
Location: Sunny Florida
2008 goals:
(1) 2007 IRA - $8000
(2) Car fund - $17000
(3) E/R fund - $10000
(4) Baby fund - $5000
(5) 2008 IRA - $10000

Total - $50,000

Current numbers:
(1) $405
(2) $358
(4) $5

Total: $768

I'm having some trouble getting excited and focused on our 2008 goals. We just finished paying off our unsecured debt (2007 goal) last week so it makes sense that we are behind on our 2008 goals. We need to put $962 a week into savings in order to complete our 2008 goals, by the end of this week (week 4) we should have $3848 set aside. As you can see from the above numbers we have not managed to even complete week 1. I'm just feeling kinda blah and unfocused. I wonder if I need to take a little break but I also realize that I need to close out 2007 in Quicken and I need to work on our 2008 budget and I need to work on our 2008 goals.

Does anyone have any words of wisdom?? Thanks.


Last edited by Sam on Tue Jan 22, 2008 10:33 am, edited 1 time in total.

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 Post subject:
PostPosted: Tue Jan 22, 2008 9:29 am 

Joined: Sun Jun 10, 2007 3:19 pm
Posts: 620
Sam wrote:
Does anyone have any words of wisdom?? Thanks.


Honestly? Take a break. You've done really well so far, and burning yourself out isn't going to help.

There are fifty-two weeks in the year. Maybe take a week's worth of planned savings and buy a pony.


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 Post subject: Refi
PostPosted: Thu Jan 24, 2008 10:52 am 

Joined: Sun Apr 29, 2007 8:11 am
Posts: 1088
Location: Sunny Florida
We've been looking at a refi for our mortgage. We are 4 years into a 30 year fixed rate 6.125 mortgage and we are thinking of refinancing into a 20 year fixed rate mortgage (right now the rate is 5%). We can basically accomplish the same goal as a refi (fewer years on the morg. and less money paid in interest) by paying an extra $250 a month. As a result, we have decided to pay extra on our current mortgage and watch the 20 year rates. If the rates keep coming down we likely will refi.

So, this month I made an extra $250 auto-payment from our house Wachovia checking account to our Wachovia mortgage. I did not call Wachovia before I made the auto pay and as a result I was not surprised to see the $250 noted on our mortgage acct but not applied to principal or interest or anything. I called up the Wachovia folks and the rep (very nice and helpful) explained that since we had not provided any direction for the extra payment it sits in the suspense account. The rep indicated that he would apply the extra $250 to the principal and make a note that all extra payments, going forward, be applied to principal. The only restriction on making extra payments is that I need to do so after the regular mortgage payment is applied on the 8th of the month.

Follow up, the $250 has been applied as Principal Curtailment (which I think is a fabulous way of describing the extra payment).


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 Post subject: 1/31 numbers
PostPosted: Thu Jan 31, 2008 11:54 am 

Joined: Sun Apr 29, 2007 8:11 am
Posts: 1088
Location: Sunny Florida
2008 goals:
(1) 2007 IRA - $8000
(2) Car fund - $17000
(3) E/R fund - $10000*
(4) Baby fund - $5000
(5) 2008 IRA - $10000

Total: $50,000

Current numbers:
(1) $405
(2) $458
(3) $501
(4) $5

Total: $1369

* Our emergency fund already has $8000. The 2008 goal is to increase our e/r fund to $18,000.

A. Training, we are in week 3, but we have only run once this week so we need to train tomorrow and Saturday.


Last edited by Sam on Mon Feb 04, 2008 2:57 pm, edited 1 time in total.

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 Post subject: Car
PostPosted: Mon Feb 04, 2008 4:45 am 

Joined: Sun Apr 29, 2007 8:11 am
Posts: 1088
Location: Sunny Florida
Ugh! Car wouldn't start this morning. The good news, husband was able to give it a jump start and get it going. The bad news, we just replaced the battery 4-5 months ago so there is probably something more seriously wrong. If you followed my last fiscal fitness journal, you'll recall that I had a few problems with my car in 2007 that cost about $1500 to fix. I drive a 1999 paid for car (my husband drives a 1997 paid for truck). Hopefully, my car trouble will help me to stay focused on our 2008 goals, one of which is to save up for a nused car for me.


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 Post subject: Stock
PostPosted: Thu Feb 07, 2008 6:38 am 

Joined: Sun Apr 29, 2007 8:11 am
Posts: 1088
Location: Sunny Florida
Yesterday I bought 100 shares of stock in my 2007 IRA fund. I've never bought plain old stock before but its something my husband and I have been talking about for our IRA investments (our 401ks includes only fund type investments). What we've been talking about doing is if we like a company, use a company's products or read about a company that seems interesting we'll buy a small amount of stock (plan is to buy and hold, not trade). I'm not sure our plan is particularly sound in that we might not do a whole lot of research on the company's financial health. Anywho, yesterday I took a look at the stock of a company that I'm interested in (a young biotech company) and the stock was under $4 a share. So I called up the folks at Fidelity and had them walk me through how to buy a stock (market vs. limit buty, etc.) and I bought it (after talking with the hubby since we discuss any and all purchases above $300). I found buying stock a whole lot more exciting than buying funds - I think its easier for me to get excited about one company's product or profile.


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