Friday, January 28, 2011

Elevate Your Finances in 2011 - January update

Welcome to Elevate Your Finances in 2011!

Time to update my financial goals, which I posted at the beginning of the year.

My main financial goal is to pay off 50% of the balance (as of 12/31/10) of our home equity line this year. Of course, we hope to pay it all off! But we are being realistic, and making a goal that is challenging, yet achievable.

In January, we paid off 1.2% of the amount remaining. This was a little disappointing. But there were lots of large expenses this month which we paid out of cash flow, such as car insurance.  (I know, I know... I should be saving 1/12 of the money for car insurance and other big, occasional bills, each month, so that I don't have to pay them out of cash flow.  But that didn't happen this year due to our wonderful yet expensive event last October.)

In the coming months, we'll be able to put more toward this goal - I sincerely hope!

I also set a goal to make a comprehensive list of all our financial accounts by the end of February. I did not work on that goal this month. So I guess I will be digging through papers to get that completed by the end of February.

How are you doing on your financial goals this year? Leave a comment below!

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