This year, my goal is to pay off my home equity line of credit once and for all!
We didn't make much progress in January and February, but March turned out much better!
Why? I'd love to credit all my frugal ways, and the money-saving things I did this month did have something to do with how much money we saved. But it doesn't account for most of the progress.
And I'd love to say that this blog is bringing in the big bucks. Although I have found new ways to monetize this blog over the past few months, and though it is bringing in more income than it did in the past, the income from the blog is still a pretty small number.
No, the majority of the money saved this month was due to increased income - my husband got a bonus at work. Woohoo!
It's difficult to reach a goal just by cutting your expenses, because you can only cut a certain amount before you get to items that you simply cannot or will not cut. And if you only concentrate on increasing your income, your expenses could grow at the same time, leaving you no better than you were before. To reach large financial goals, you have to do both.
So we have now paid off 15% of the amount we owed on December 31, 2011. Good progress, but still lots to go!
How are you doing on your 2012 financial goals? Leave a comment below!
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