It’s the end of September, so it’s time for me to share my quarterly update of our 2012 Financial Goals. I was excited to write this update because of the progress we’ve made on #3 below–we’re so close to being debt-free except for our mortgage! I am so motivated by the idea that all this money we’re paying off debt with each month will be ours next year. And I’ve already started a huge list of wants/needs/repairs for our annual financial planning date that we do in December. More on that next time! Here’s the latest progress:
1) Pay off our second mortgage by February 20th. DONE!
2) Refinance our mortgage by the end of March. DONE!
3) Continue the Debt Payoff towards our three remaining debts and pay off by the end of December. TWO DOWN, ONE TO GO!
We’re now down to one loan, but it’s a big one. My husband’s law school student loan is still in five figures, and we’re putting all extra money towards this. In retrospect, we could have paid this off years ago. We’ve been paying the minimum and never changed that. Dumb move. We’re now powering through it, and as much as I would have liked it done by the end of 2012, it’s clearly going to run into 2013. I’m doing my best earning extra money wherever I can, but realistically that HVAC replacement pushed us a good 6-8 months further. Boo.
How are your 2012 financial goals coming along?
Image from .oskar at Flickr
I too am almost debt free except our mortgage! I am trying to power through ours as well, but there always seems to be something big that pops up. I hope for it to be paid off my the end of next year at the latest. Then we can start saving for a new car for when the time comes.
Good for you, Angela! Keep up the great work.
Gina recently posted..2012 Financial Goals: Quarter 3 Review
Congratulations on all of your progress! You have much to be proud of! We are debt-free except the mortgage, but lately we’ve struggled because we keep having things break. I’m finding that the skills I learned while paying off debt are helping us rebuild our savings… but it is a sloooooow journey.
Christina @ Northern Cheapskate recently posted..Sunday Coupon Preview for 9/30/12
Thanks, Christina! I’m waiting for my fridge to break, it’s already on its last legs.
Gina recently posted..2012 Financial Goals: Quarter 3 Review
I’m debt free now a days and looking for more legit ways to increase my base property and buy some rental property to live with full of freedom enjoying my bachelor life.
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Congratulations! That is so exciting! We have one car loan that would’ve been gone if my husband could only find a job. We’re approaching the 8 month mark for unemployment. Very frustrating, but it could be worse….we have no credit card debt!
Sorry to hear that, Meredith. It’s tough to stay out of credit card debt, so keep up with that!
Gina recently posted..30% off at Old Navy and Gap
I wish I could say that I’m working towards being debt free. Right now I’m just barreling through to get caught up. I admit that i”m not very good with money, but I am trying. My goal is to be caught up by the end of the year, so that I can start socking some money away and paying down the credit cards by the end of 2013.
Sounds like you’re on the right track, Lisa. If you want to learn more about managing your money and living on a budget, I highly recommend the book Total Money Makeover by Dave Ramsey: http://amzn.to/R8dioa
Gina recently posted..30% off at Old Navy and Gap
Thanks for the updates! I love to follow you and see that it can be done! Inspiration at its best :00