Financial Goals Update- March 2009

Time for a progress report on the financial goals I set at the beginning of 2009. Hard to believe we are almost a 1/4 of the way through the year!

1.) Emergency Fund- still intact at $1,000 and gaining interest. I have been pondering the idea of adding another $1,000 to it after I pay off my car this summer. The student loan pay-off will take a significant amount of time so it would be smart to increase the emergency fund...I'll revisit this idea in a few months.

2.) Credit Card Debt- If you read my recent post then you already know my credit card debt has been wiped out! Yay! I began accruing credit card debt when I started college (couldn't say no to the free t-shirts for signing up), which; hard as it is to believe, was about 10 years ago. Wow, almost a decade since I have maintained a zero balance on a credit card.

3.) American Honda Finance Auto Loan- My official balance as of today is $4,941.46 I had originally intended on beginning mega-payments on this loan in mid-March. But, in light of the recent vehicle repair, I have pushed back the start date to mid-April. This could potentially push back the final payment of my auto loan beyond July...makes me kind of sad because I wanted to celebrate this pay-off on my birthday. I am going to stick with this original pay-off date in mind though because great things are possible!

4.) Sallie Mae Student Loan- this still stands at $13, 350. My goal is to begin large payments immediately following the pay off of my Civic, somewhere in the July-September time frame. Also, my 2009 Federal Income Tax return (thinking way ahead here) will be applied towards this loan. Bottom line, I hope to have my student loan debt cut in half by this time next year.

I have to say I am delighted with my progress. There have been set-backs but I have been prepared for them all, what a difference a few months make!

Here's to what was before, what has been done to change it, and what will be in the future!