Thursday, October 06, 2016

September 2016...

September was a decent month. My net worth improved by almost $3M.

I have been able to pay off $14K year to date. I plan to have Private Loan #4 paid off by the end of November and Private Loan #5 by end of year with my annual bonus.

Shout out and Thanks to Dreamchaser for reading my blog and for leaving a comment. I am putting together another post that will give some detail on the debt journey since graduating from law school. =)

Monday, September 12, 2016

Daily Dollar App...

Found this cute app over the weekend called Spend Today and it's based on the daily dollar method. You get a certain amount of money for the month divided into days. If you spend less than the daily allotment, you have more to spend the next day, week, etc. If you overspend, then you're borrowing from the next day, week, etc. This was my warning message from yesterday evening. Needless to say, it persuaded me from spending any money today which wasn't too hard since I work from home on Mondays. 😂 Looks like I may be on leftovers for the week too! 😂

Sunday, September 04, 2016

August 2016...

My Net Worth bounced back in August after the car purchase!

My 401k broke the six figure mark for the first time! Yeah! Progress! I continue to contribute 5% to my 401k for the company match. The Bank suspended our pension plan this year and will start to contribute an additional 2% to our 401k for a total of 7%. I enrolled in the 401k program that will automatically increase my personal contribution rate by 1% annually. So next year, I will contribute 6% and the company will contribute 7% for a total of 13% or approximately $16k annually in contributions.

I am still very focused. I also contribute 15% to the Employee Share Purchase Plan (ESPP) where I am able to buy company stock at a 15% discount. By the end of the year, Private Loan #4 and Private Loan #5 will be paid off and my goal is to have at least $30k in savings. What I report below is the stock value at cost but the market value will be close to $29k by the end of September with another quarter left in the year.

I am on track! Things are still up in the air on where I will be living next year. Will I move back to the condo,stay here with my parents or move to Ohio or even Maryland?!?! CJ just took on a sales position in OH and he is doing really well. I am also doing well in Chicago but there is so much violence happening in Chicago that I am more open than ever to relocating. So, we still have to figure out how to get to the same city. I am more flexible and have the ability to work remotely and a boss that is supportive. So, we'll see.

My tenant signed on for another year so I am good to go until August/September of next year. I am so thankful for a good tenant!

Wednesday, August 24, 2016

July 2016....

July was a really good but busy month. It started out with a solo trip to Mexico and followed immediately with a new car purchase. A few days after I returned from Cancun, my 14-year old car essentially said ENOUGH! I knew it was only a matter of time and I am thankful for the years my car rolled with me! Literally!

July was a decent month. The biggest change was in my Net Worth with the new car purchase. The value of the car drops immediately when you drive off the lot. I love my new car and it has already taken me to Ohio once for my family reunion and to visit CJ. I will be riding back to Ohio to work there for a week again in September. The increase in liabilities was partially offset by gains in my retirement account.

Overall, not a bad month. I am working to adjust the budget to account for the new car payment. I wanted to get the car now and get acclimated to the payment vs. moving back into my condo next year and taking back on the housing payments and new car payment at the same time. It all worked out from a timing perspective.

My Goal is still to pay off a minimum of $30k in debt this year and to pay off Private Loan #4 and Private Loan #5!

June 2016....

June was a good month. I snowballed $2,400 for May and June and my net worth improved slightly.

Saturday, July 23, 2016

So Much Change...

Y'all it's been world wind of a few weeks. I took my second solo vacation out of the county to Rivera Maya Cancun earlier this month. CJ couldn't get away from work and I needed to get away. Loved it!!! I am completely sun-kissed! 😘 I stayed at Secrets Playa Mujeres which was all-adult resort and completely amaze-balls!!! Good food, sun and beach! Love!!! ☀️☀️☀️

Less than a week after returning from vacation, I had to finally say Goodbye to my car of 14 years...The Green Machine!!! It served me well considering it had major rust corrosion and was welded together in so many places. This car's engine and transmission were still going strong but things kept breaking off underneath and I needed a set of new tires before Winter. With one more year at home, I decided it was time to get another vehicle that I can ride for another 14 years!!! LOL I'm happy and I was more than ready! My new car is a Nissan Murano SUV and I love it! It's sporty and fun, just like me! 👍🏾

I got my first real haircut too!!! It's super fly! Lots and lots of curly layers!!! I'm so happy and I didn't need to fly to LA or NYC to get a deva cut! I found a salon specializing in curly hair on the North Side of Chicago! Thank goodness for Instagram!!! My Sis found the salon and stylist for me!!! 

I'll definitely have to change up the budget to fit in the new car note but I have a year to get used to the new payment and get ready for the move back home. 

I am on target to have all but one private loan paid off by the time I move back to the condo in September of 2017, a minimum of $40k in savings and just over $100k in retirement balances. The last private loan will be paid off in December of next year with my annual bonus and I would have paid off just over $100k in student loan debt!!! Oh yeah!!! This move home with my folks was an absolute life saver!!!

Friday, June 24, 2016

May 2016...

Sorry this is a late post. June is almost over already. I have been so busy!

May was a decent month. I did not snowball the extra $1,200 in May but I did snowball $2,400 in June so that extra reduction will show next month. Making good progress through the year and credit score remains strong. 

Tuesday, May 10, 2016

April 2016...

April was a decent month. My net worth continued to improve and is heading in the right direction towards positive territory! I am ecstatic with the progress!

My tenants have been wonderful over at the condo and they keep the place in immaculate condition. Unfortunately, they are divorcing and I am not sure if the wife will renew the lease. Her daughter is enrolled in the local high school which is one of the best in the area so I know she would like to stay. I am just not sure if she can afford the rent on her own. She has until July 1st to let me know if she would like to extend the lease. I currently rent it for $1,600/month. I would be willing to go down to $1,300/month if she wanted to stay for another year. My plan is to reach out to her in the next couple of weeks.

I would like to stay at home with my parents for one more year and then move back to the condo next September. CJ is working on his move to Chicago and we'll be in the same city soon. I am more inclined to abate the rent with the current tenants over the next year because it's only one year away, the current tenants take such good care of the unit, get along with the neighbors and it would cost me about $2,000-$3,000 to relist the condo and get it ready for a new tenant.

I'll keep you posted! Fingers crossed!

Monday, April 18, 2016

March 2016

Hi Guys & Gals!

March was another good month! I am very happy with the progress so far this year and looking forward to having a positive net worth! 

The Debt is steadily going down! The market rebounded and gave a good lift to my retirement balances! I continue to snowball an extra $1,200/month on my student loans and contribute 5% to my 401k to get the 100% match. I also contribute 15% to the ESPP at work which is close to $1,400/month in savings. My credit score fluctuates in the mid to high 700's but remains strong. 

Work is good and it's been super busy. We lost a team member in the middle of March and had to redistribute the workload. Instead of covering the entire footprint and sharing responsibility, I gained primary responsibility of my own regions. It's a big shift in the role but I'm up for the challenge. I've got a good Manager in this position and love that I get to work from home every Monday and remotely as needed. Definite plus! I can do my job from anywhere. 

Looking forward to the Summer and getting to see my nephew play travel baseball. He's so excited! 

Tuesday, March 01, 2016

February 2016...

Hello Everyone!

February was a solid month. I returned to snowballing and paid down $2,200 in debt. I increased my ESPP contribution to 15% in January so my stock purchase went up by $1,360. I contribute $680/paycheck towards share purchases which are made at a 15% discount on a quarterly basis. I use the lower of cost or market value in my net worth calculation. In this case, the market value is slightly higher than what is represented here. My retirement accounts held up but did get hit by market decline.

$2,200 is budgeted to be the minimum debt payment on a monthly basis going forward and includes a $1,200 snowball. I also pay about $75/per month over the minimum balance on my credit card.

My goal is to pay off all of my Private Student Loans and save $40k+ by December 2017.

Thursday, February 04, 2016

January 2016...

Hi Everyone!

January saw a sight dip in Net Worth primarily due to market decline that negatively impacted my retirement account and an adjustment to the trade-in value on my car. The decline in asset value was slightly offset with an increase to my after-tax savings percentage to 15% (maximum ESPP contribution rate allowed). I am going to give this higher amount a try for the quarter to see how the revised budget and decreased cash flow works out.

There was no snowball in January as I paid off two loans December and I paid off all Christmas shopping in full this month. Overall, not too shabby. My debt decreased and I am looking forward to 2016!

Sunday, January 03, 2016

December 2015 & 2015 Year End Recap....

Hi Everyone!

2015 was a good year! I didn't set out specific goals like I did for 2014 but I did excellent!

All in all, I was able to do the following in 2015:
  • Paid off a total of 3 Private Student Loans! 
  • Total Debt Repayment for 2015 was $34,556 vs. $11,083 for 2014.
  • No New Debt!  
  • Ended With $18,053 in Cash/Marketable Securities vs. 11,110 for 2014.
Highlights Since Start of 2009 Debt Repayment Journey:
  • Paid off a total of $64,985 in student loan debt. 
  • Paid off a total of $10,360 in credit card debt. 
  • Improved my net worth by $140,429!