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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Plans for the New Year Date:  2/18/2001  4:36 PM
Author:  InvestorGrrl Number:  58593 of 312148

A long,long time ago, in a message post far, far, away: GracieGirl asked: Is anyone else goal-setting for the new year?

And I yelped: "Me! Me!"

Exactly two months later, here's where things are:
I got laid off the day I posted that. Hee! Not unexpected, and indeed welcomed.

DONE January 23, 2001: 1. Pick up contributions to Roth IRA (set aside temporarily to hasten paying estate taxes,) for 2000
DONE February 15, 2001:2. Pay with cash for plane tickets to friend's wedding 2300 miles away in May. -- well, done with credit card, but with hubby's bonus $$ and, I saved him $300.00 and will have the card paid in full March 4.

Continuing to do:
5. Put 15% of net income toward debt repayment.

Didn't do at all:
4. Pay with cash for natural gas furnace, replacing antique behemoth oil furnace. -- Paying $1.89/gallon for 200 gallons of oil really made me itch. I did the heating conversion to have a 30% reduction in heating costs.

Got existing consumer debt from $6400 to $4000 in two months.

Yet to be done:
3. Remove Private Mortgage Insurance from mortgage payment. My 24 month anniversary is February 26. I'm at 28.7% of appraised market value, and need to be at 25%.

New goals:
1. Get full-time permanent job that pays at least 95% of what my husband is earning.
2. Remove Private Mortgage Insurance from mortgage payment.
3. Continue to put 15% of net income toward debt repayment.
4. Reduce monthly grocery expenditures to $225/month.

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