About Me

njdebbie

I'm 38 years old, married with two sons, 14 and 18 years old. My husband and I do not have credit card debt or student loans. Our long term goal is to put away as much money as we can towards our retirement.

2008 GOALS:

Save 30% of family income from September through June.

>>Open a Roth IRA-(opened April 20th) $450.00/$5,000

>>Increase contributions to 403B
(Done) $125.00 to $145.00 (biweekly)

>> Open a Roth IRA for hubby.

>> Lose weight (50 lbs)
(0/50)

$$$$ DEBTS TO PAY $$$$

2008 GMC Canyon (truck)
(Hubby's 1993 had to be junked)
Terms: 0%/72 months
Purchased in July 2008
Balance: $27,988.91

Son's Fall/2008 College Tuition:
$1725.00 + textbooks. (Paid)

NO CREDIT CARD DEBT

FEBRUARY--BAD, BAD MONTH!

February 29th, 2008 at 04:21 pm

February was not good on our savings and I'm feeling the agony. This is in addition to the montly bills.

Here's the rundown Frown

$1,385.00-- Heating oil bill

$2,800.00 -DOWNPAYMENT FOR MY SON'S CAR
(I THINK WE'LL BE ABLE TO RECUPERATE THE MONEY ONCE WE SELL HIS "OLD" CAR AND RETURN THE MONEY TO OUR SAVINGS).

$3,210.00 PROPERTY TAXES FOR OUR RENTAL AND PRIMARY HOMES.
(I really should be putting that money aside each month, but I'm not that disciplined and our mortgage company won't escrowed the loan).

We still managed to put 30% of our monthly income in our money market account.

Posted in Uncategorized | 3 Comments »

3 Responses to “FEBRUARY--BAD, BAD MONTH!”

homebody Says:
February 29th, 2008 at 06:28 pm

Wow 30%. Good job.
HouseHopeful Says:
February 29th, 2008 at 08:10 pm

I think you've done great, saving 30%! Even if it wasn't what you were hoping for out of the month, you should still be proud of yourself.
noexcusebudget Says:
February 29th, 2008 at 09:20 pm

30% is fantastic! I'm a big believer in not escrowing taxes and insurance... it's painful to write out that big tax check, but think of it this way- you can take that amount every month and pay the $ to the lender to "bank" for you in which there is no benefit to you except that you don't have to write that big check, now if you think about the interest you are earning by keeping the money in your account till the last second than you are actually earing interest money... Escrow accounts are only good if you lack self control and don't have the money in time for the taxes to be paid. You definately have the whole saving thing down! Again 30% is great! Good Job!

NJDebbie's Personal Finance Blog

DOING EVERYTHING I CAN TO NOT LIVE PAYCHECK TO PAYCHECK.

FEBRUARY--BAD, BAD MONTH!

3 Responses to “FEBRUARY--BAD, BAD MONTH!”

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