When December ended and January really kicked in I didn’t want to do this assessment because I was afraid of what the results might produce. But as I was sitting here this morning it dawned on me that that was part of what this site was about, to keep me honest to keep my goals and plans in the forefront. I don’t think I really made much headway in December but that’s ok. Time to use the December goals and assessment as a starting point for the New Year:
(The numbers will be skewed slightly since I’m doing this assessment 10 days after the end of the month)
- Limit the credit card usage as much as possible.
- Get the credit card debt down to $11,000
- Use the money from the coin jar for my gifts ($350-400).
- Get my net worth over $10,000 again
- Invest $200 into mutual funds.
- Use pocket money for all non-bill related expenses in an effort to reduce spending.
- Track all expenses for the month.
- The credit cards were used but relatively sparingly
- The credit card debt is up at $11,508.10 but this would have been pretty close to the $11,000 goal interest on both has kicked in since the beginning of the month.
- Used the money from the coin jar, but spent more money above and beyond that.
- I did not get my net worth over $10,000, but it did go up rather than further down.
- Invested $125 into all my funds during the month.
- Used pocket money to some success but this will simply take time to get used to.
- Tracked all expenses for the month, which was a bit of a surprise.
Other items of note for the month:
- I managed to get my car insurance down 30% (a savings of almost $150 per month)
- Finished my higher paying job on the last workday of the year
|Credit Card #1||$6,545.94|
|Credit Card #2||$4,962.16|
|Line of Credit||$15,004.84|
I guess the next step is to come up with some conservative goals for the month of January. The reason for the conservative goals is I’m already a good chunk of the way into the month and I’m still not sure what my financial situation will look like when I start getting paid less money.
[tags]net worth, monthly planning, goals, accomplishments[/tags]