Wednesday, January 09, 2013

Happy 2013!!!

Happy New Year Everyone! I am excited about what’s to come! 2012 was a better year than 2011 and I have super high hopes for 2013!

For 2012, my net worth improved $9,787 and I landed a new job at the bank that increased by salary from $82k to $100k. I am so thankful! I had just a $283 improvement in my net worth for 2011. So I am still in the negative at ($172,924) but I am going in the right direction. The law degree is finally starting to pay off. =)

The latter part of 2012 was challenging. I had two surgeries, car repairs and plumbing issues. I am still dealing with the plumbing issues in my condo. I have a major pipe leak and it’s likely they will have to go into the walls or the foundation to fix it. More to come but the result has been a three week ordeal and I’ve already incurred over $1,000 in expenses including a $700 water bill. Wowza!

So my February bonus which will be about $9,500 after taxes will primarily go to pay off $6,000 in medical bills, the car repairs and the water expenses incurred to date. Thank God for the annual bonus! I also received $10k in stock options but those don’t vest for a few years.

I am working on the budget for 2013 and I really want to get back to contributing to my company 401k. The company matches contributions 100% up to 5% of my salary so I am just passing up on free money. I just turned 35 last month so I know I need to get focused on my future.

I’ve struggled over the years with the “slow and steady wins the race” approach so I am going to really try to make an effort this year to work towards several goals including retirement, short-term savings and debt reduction. I am also considering going back to a financial advisor to really help me get a handle on my finances to assist me with trying to reach all of my goals.

Even if I don’t post anything here at the blog, I do update my networthiq account monthly. All you have to do is click on the graph in the upper right corner of the blog and that link will take you to my profile. There, you can check my progress from month to month. Thanks and wishing you a very abundant 2013!!!


The Borrower said...

You know I have been reading your blog a long time and I think you are moving in the right direction. I would love to see all those loans disappear, but from my experience these struggles prepare us to take on some pretty magnificent things later down the road. You got this!

I hope you are getting a 2nd opinion on the water issue and your car troubles are a thing of the past. I am praying that any physical issues are short lived and completely gone now.

Let 2013 be the year Chitown rocks the city!

Eve said...

I am so glad you are back! I was waiting for a new post from you. Happy New Year.

Eve aka YBP

Chitown said...

Happy New Year Guys!

So sorry I haven't been posting as much. I look forward to catching up on everyone's blogs soon.

The health issues are now a thing of the past. Thank goodness.

My car is 10 years old. Nissan made the car with the wrong alloy for salt states and there was complete corrosion on the botton of my vehicle. They extended the warranty for the rear subframe but not the floor boards. I was going to be like Fred Flinstone soon so I needed to get them replaced. I am not happy with Nissan at all. They know the floor boards of the car are also underneath and exposed to the winter salt in Chicago. They should have extended the warranty on the floor boards as well. I was thinking about buying a Murano but I am looking at other vehicles now since I will be in the market in another year or so. At this stage in the game, a car repair is cheaper than a car note and I need another year.

James Warren @ CapitalCarePlumbing said...

Just like your post title "Happy 2013," having enough fund or source of fund for your plumbing problem is enough to be thankful for. Any plumbing issues, regardless of how minor it is, should be attended to right away to avoid causing further damage. I am positive that with the kind of mindset you have, you'll soon reach your goal of financial freedom. Good luck! :)

Chitown said...

Thanks James!!!