BankerGirl

Posted by Heidi on April 3rd, 2008 in credit cards, debt, loans, saving, student loan debt, track expenses

The first three months of 2008 have been kind to me.  Things started out rough in January, but in mid-March I received my annual bonus as well as a nice little tax refund, so on the whole, this quarter has been a good one.  Since the end of the year I have fully funded my wedding savings account as well as paid down some credit card debt. 

Here’s a quick rundown of some of my financial benchmarks for Q1 2008:

As you can see, I am doing a better job at saving than I am at paying off debt - but I’m making inroads.  What you can’t tell by looking at the chart above is how my spending has changed.  For example, this was the first time in years that I’ve been able to pay my car insurance in a lump sum as apposed to making monthly payments.  This frees up an additional $140 per month (I’ve had a few speeding tickets and been involved in an accident or two…) to throw at savings and debt.

I am really pleased that my net worth is positively trending for a change - in the past few weeks my 401(k) investments and personal stock holdings have rebounded a bit, which accounts for part of the difference.

The other part?  I have raised my 401(k) contributions by 2% and began participating in my employer’s stock purchase program.  Hopefully, by year end, I’ll be able to set aside 10% of my earnings in my (k) plan - then I’ll really see those net worth numbers soar.

It’s slow going, but I feel pretty good about my progress. 

Stumble it!