I realized recently why I have not been able to stick to budgets very well in this past year. I don’t really have a concrete $$$ goal any more. In late 2012 (the FUCCD days), it was to get myself out of over $13k of credit card debt within one year. After that, it was to tackle the student loans (the birth of this blog) by X date. When I landed my current job 2 years ago, it came with a sweet student loan payoff helper I negotiated, and I’ve been lazily just paying off the minimum balance since then. 2015 was nuts with simultaneously saving up for a wedding AND A HOUSE (which also both had a due date). Now that all those things have been checked off, it’s been hard to focus on staying on track, because…meh.
I was playing around with some numbers over the weekend, and realized that if I can keep my own variable expenses down to $750/month, I can actually throw in $1,400/month into savings. We’ve been trying to save for home repairs, but not until the credit card gets paid off. So my goal this year is to save up $15,000 for various home improvements, like a new roof, fence for the yard, paint, and other random things. The deadline for this goal is December 31, 2017. (Sure I’ll probably be spending it along the way, but I will definitely track how much I’m kicking to savings each month.)
The credit card is down to $3,233.17 today (I know, not much difference since last month, although it climbed up way higher and we were able to throw $1,800 towards it) and our tax refund (over $2000) should be on its way tomorrow. I’ve been tracking it. I’m fairly confident this card will get closed out by the end of the month and am also moving any recurring expenses off of it.
Oh yeah! Before I forget, my new student loan balance as of the 1st of this month is $52,359.53. My payoff helper will be kicking in $10k towards this by the end of the month, which will be so exciting to finally get it down to less than half of what the original amount was. Huzzah!