Friday, August 21, 2009

Monthly Financial Checkup

At the beginning of the year, we set out with 2 big financial goals: build our emergency savings and get rid of all credit card and other debt besides the mortgage.

I decided to share a little about our journey now, mainly just to keep me accountable because I feel like we've made a dent, but still have a way to go. It gets harder now, kinda like that last 5 pounds when you're on a diet.

Goal 1 - Debt free
Goal Complete 55%
Goal 2 - Build 8 month Emergency Fund
Goal Complete 46%

I'm especially excited that we are over 50% debt free now. I really want to stay on track with that. Now, the harder part, and quite frankly this has always been the hard part for me, ramping up our savings. What seems to work best for us is to have a certain amount automatically withdrawn from our checking to our savings each week. It started out just being a few dollars and we've increased it a little every couple of months. It's time to increase it again. For us, it almost becomes like another bill that we have to pay. Since hubs and I have always been really good at paying our bills, it's easier for us to save by thinking of it this way.

I hope to make this a monthly post. So, check back to see where we are next month. If you have any tips or ideas that have worked for you, please leave a comment

Also check out Money Saving Mom for her monthly financial checkup and to see what others are doing.



Blogger Jessica Morris said...

yay for being over 50% debt free!! :) That is really exciting!
I just blogged about finances today too.

August 22, 2009 at 4:22 PM  

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