Well, my monthly budget updates only lasted one month. So maybe quarterly reports will be a bigger hit? Here is the state of our union on our 2013 goals.
Bring down my student loans to under $10,000: On track
I paid off my THIRD student loan this week! I started January 2013 with $18,248.01 among five different student loans and now I have $16,092.79 left to pay off among four different loans. That means in three months, I paid $2,155.22 in student loans! Thank you side hustle income!
Make $5,000 in extra income: Complete!
The Side Hustle income has been so good to me. While I’m not making anywhere near this girl, I am very happy with how well I’ve been doing and can say that three months into 2013, I have already knocked this goal out.
I split my side hustle income into three ways. The first $375 every month goes to cover graduate school costs and books that my company doesn’t cover (They only pay 75%). The next $500 goes into our vacation fund (because all work and no play makes Erika a dull girl). And then whatever is left over I use to pay off debt and maybe a few fun things, like my pure barre classes. Of course, when I say “left over” it sounds like there’s not much to go toward debt, but there has been plenty and so far this method has been working really well.
Pay for Graduate School without loans: on track
Thanks to side hustle, I haven’t had to worry about how to come up with the money to cover graduate school.
Save $5,000 in our General Savings Fund: on track
We currently have 60% of our General Savings fund full, but the general savings fund has really turned into a house down payment fund. Eric and I have made a pact that in addition to the $500 per two-week pay period that we put into the fund, any overtime money from our jobs will go into the fund, as well as any “extra” money, ie. Rebates, my bicycle money, etc. Here’s hoping we reach 100% of our goal by the second quarter and we can up our goal for the end of the year!
Pay Down Eric’s Student Loans: No progress
Ugh. Eric’s loans are 0% interest until he graduates (or as long as he’s in school full-time). For this reason, I’ve kind of been ignoring these ones until it’s actually time to pay up. The amount is about $5,000.
Rebuild emergency fund to $1,000: on track
Our emergency fund is 70% funded. We’ve been doing this little by little, whenever our budget allows it and after more important things are taken care of. Since we also have our general savings fund/house down payment fund, it’s not like I’m super worried should an emergency arise, but at the same time, I don’t want our savings fund to ever have to be used in an emergency. Hence, the need for a separate emergency fund.
Save $800 for Christmas 2013: on track
We finally started a Christmas fund this year, and I have a feeling this will make the holidays a lot less stressful. I’ve been setting aside $50 from every paycheck cycle and we’re currently at 43% of our goal. We’re actually upping it to $1,000 because we always overspend at Christmas.
Go on a domestic vacation: on track
We have our airfare for New York in May. Excited to go on a trip!
Have Eric get hired as a firefighter: on track
Well, so much has happened in this regard, but still no cigar. Basically, we are just waiting to hear from one job, but that could take several months. There will also be hiring opportunities later this year at two fire departments that Eric works at (as an employee, and as a volunteer), so maybe one of those will pan out if we don’t hear back from the first job. We’re so close!
Learn about the stock market: no progress
I’m not sure if this is the right track for our finances at this point in life. Is the stock market just for people who have money to burn? We have our 401K and Roth IRAs: is that good enough? I need to do more research .
Lose 15 pounds: on track
Well, I am down about 10 pounds from the beginning of the year and this is usually where I get stuck. I had a big rut all of February and didn’t lose any weight, and then March I kicked it into high gear. I’m now at the same weight I was last year around this time, but I want to lose more! Juicing in the morning is seriously what helps me drop the weight off. But some days I just don’t feel like having vegetable juice for breakfast, you know?
Bike to work at least 10 times each month: on track
I have completely failed in biking 10x a month to work. January, I only biked like twice, because it was freezing. And I know all you East Coast people are laughing at me, but believe it or not, us Southern Californians have actually had a winter here! It’s been in the 50s in the morning, and I’m sorry that is just too cold for my hiny. Maybe as the weather gets nicer, I’ll pump it up a notch.
Go on at least ONE husband-wife date each month
Eric and I have been doing well in this regard and I’m really proud of us for making an effort. Sometimes, it’s way too easy to rest on the couch with take-out, a dvd, and the iPad and call it a night. And while we still do a LOT of that, we’re also making an effort to get out of the house more.
So there you have it! First quarter results and I am pretty happy with our progress. How are you doing with your goals?