The car is FINALLY paid off and it feels so good! Tomorrow night I’ll wash it and clean the interior too. I’d insert a picture of the car right now but alas, all my pictures are on the other computer.
Looking at my finances it’s completely amazing to me that I’ve paid off $6,947.36 since March of last year just on my car loan! That’s a lot of money, people!
Anywho, before I get too excited I thought I’d put in some goals for my savings through December so I can update here when MSN is down.
The smallest goal is a mere $25 a month to be transferred to online savings for a new car. While $175 won’t make a huge dent in replacing my car it’s my goal to have $10,000 by the time the car hits 200,000 miles. At this pace I have six more years so I can steadily increase my savings as I pay off other debts.
Next is a $50/month transfer to my big Emergency Fund at ING. Even when this account hits the big 1-5-k I want to be transferring money here every single month. the goal is $350 to be added before the end of the year.
$50 a month will be transferred to a Roth IRA, possibly my existing one or a new account. While I won’t max out this by April I need to be buying something while the stocks are so low. Again, $350 by the end of December.
My major savings goal is to contribute $300 per month to my student loan payoff. I won’t be sending this to Sallie Mae directly because they’ll do screwy things with my account AND because my EF is not at 100% of goal yet. BUT once I get enough to pay off one of the two loans I’ll make a transfer. $300 a month means $2,100 by the end of the year.
So there it is: $2,975 to savings by January 1, 2010 and that’s in addition to $1,250 to my 401(k).
This savings does not take into account:
*months with 5 paychecks (July, October, December)
*part time job income
When I get a chance to write again I’ll focus on howI’m planning on accomplishing these goals.