Wednesday, January 09, 2008

January 2008 Goals…


• Move to all cash/debit system
• Set up automatic payments for my student loans
• Get job offer to join the Legal Department
• Put $1,000 towards Emergency Fund
• Pay off December/Christmas Damage: ~ $3,770

Emergency Fund: $1,000 in E-Fund

Establish $1,000 in an e-fund with the goal of it reaching $2,000 by year end. While I would like to have a $2,000 e-fund now, I am going to start with $1,000. I would like to put as much as possible towards my debt with any extra money going towards reaching the $2,000 mark.

Pay off my December/Christmas Damage: $3,770

One mistake I made was being too aggressive and putting too much towards my HELOC/CC debt in December ($900). The main expenses were the treadmill and clothes for work. My mom said she would help me out with the treadmill purchase but I am not sure that I want her to. Since it’s been delivered on Friday, I have been on it 3 consecutive days and I am already feeling better. I would have gotten on it sooner but I came down with the flu on Thursday.

The balance on my credit card is ridiculous. It will be paid off primarily with my bonus which was supposed to pay down my HELOC/CC. My family decided to do Christmas gifts at the last minute so those purchases are also reflected on my CC. For the first time, I was pretty frugal so the amount is the lowest Christmas spending since college 8 years ago. I also have a $50 and $25 Visa gift card that I didn’t give out and I will keep those for any upcoming birthdays, etc. where I will need a gift.

The CC balance includes some of my regular bills ($420) like utilities, gas, and charity which are charged to my credit card every month and paid for in full.

CC Breakdown:

• $1,002 – Clothing
• $705 – Treadmill
• $678 – Gifts
• $357 – Dining
• $297 – Utilities
• $166 – Entertainment
• $132 – Personal Care
• $129 - Groceries
• $121 – Business
• $88 – Gas
• $58 – Home
• $35 – Charity

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