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Ok enough procrastinating, I want to do this after reading the 2015 thread. 1) No credit card debt or other new debts. 2) Continue contributing 6% (w/ full match) to 401k for every pay period. 3) Increase net worth to positive by the February, then to $25K at a minimum by the end of the year (currently -$1,400). I should hit $18K only paying the minimums on my loans, w/ 401k contributions, and not incurring CC debt. Stretch goal: $30K. 4) Make at least $3,000 in additional payments towards my student loan principal (currently $11,500). Stretch goal: $5K. 5) Emergency savings of at least $4,000 (currently $0). 6) Continue living at home to save money.
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# ¿ Jan 2, 2016 19:45 |
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# ¿ May 5, 2024 19:47 |
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Q1 Update (I need to get better at doing these): 1) No credit card debt or other new debts. On track. I may get to go to Germany in May for work but I have enough in my checking account to cover the extra expenses to be able to take a short vacation. Coachella was also completely paid for when I bought the tickets. This is huge for me. 2) Continue contributing 6% (w/ full match) to 401k for every pay period. On track. My 401k is now >$13k after starting it about a year ago. I'll be fully vested in July. 3) Increase net worth to positive by the February, then to $25K at a minimum by the end of the year (currently -$1,400). I should hit $18K only paying the minimums on my loans, w/ 401k contributions, and not incurring CC debt. Stretch goal: $30K. Feb goal met... barely. I hit $16.90 net worth on 2/29. However I am definitely on track for my FY goal and probably my stretch goal too. Net worth today is over $10k thanks to goal #4, and a better than expected bonus. It feels weird but great to finally have a positive net worth. 4) DONE! On track to hit stretch goal. I used part of my bonus to pay off $3600 in student loans, 2 of my 3 loans at the highest interest rates. On track to hit my stretch goal of an additional $1400 paid down by the end of the year. 5) Emergency savings of at least $4,000 (currently $0). No measurable progress here, still at $0/$4,000, but I am still committed to doing this. I actually now have some buffer in my checking account that is continuing to grow, so I'll stick some of that in an Ally bank account within the next month or two. This will probably be the hardest part of my 2016 goals. I've never really had an emergency savings account. 6) Continue living at home to save money. On track and everything is going well. Helped renovate the bathroom in lieu of rent and upgraded the modem/router (though if I'm being honest the latter was mostly for selfish reasons, to go from 60 Mbps to 300 Mbps).
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# ¿ Mar 30, 2016 17:22 |