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2007 Goal Update

June 10th, 2007 at 08:45 pm

I went back to my January post with my 2007 goals and I am pleased to see that we are definitely making progress.
1) DH increase income to be able to cover all basic bills - accomplished with his return to former employer starting 4/30/07.
2) Add no new debt other than home equity to pay mortgage and COBRA. I personally have accomplished this but as a family we did not. I added no new debt and now that DH's salary covers the bills we are working on paying off the equity line. DH on the other hand is another story. He has a small side thing - he would call it a business, I would call it a hobby since it is costing money not bringing it in. He buys and resells car accessories and could make a profit it I could convince him to stop overbuying. So, he has created credit card debt with this and I am working on showing him the light.
3) Add miminum of 2 new sources of income myself by June. I have added one small source - started selling some things on E-bay and earned about $100 so far. I need to work on finding something else.
4) Re-assess all current fixed expenses. This is a work in progress. As each thing like insurance comes due, I am price checking and getting quotes to make sure we are getting the most for our money. This month I have to call around for quotes on trash removal cause our yearly contract is up and I know our provider is raising their rates. They already sent me a post card about their higher expenses so I know this is their way of trying to prepare me for an increased bill. I will call other providers to see if I can get a better deal.
5) Home equity line of credit paid off by December. I am not sure about this one. I have since decided that it should be a priority to make sure we fund IRA's so if that means the equity line gets paid off slower, I am okay with that.
6) Rebuild savings to a minium of $2500.00
Already well on the way to this. Actually, we are over it right now but will have to take out $4000 or so for taxes in August so I am not counting that money.

When I look at things this way and see the progress we are making I feel much better. It is just that I want it NOW and I have to remind myself to be patient.

1 Responses to “2007 Goal Update”

  1. Ima saver Says:
    1181511817

    You will get there. Slow and steady wins the race.

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