It’s a mess because of my bathroom remodel. But I soldier onward. Expect a net worth write up later this week.
Goal #1
Specific - Contribute to my 401k plan
While I am tempted to cut my contributions, I am holding steady. It’s kind of hard though. I really, really would like the extra cash right now to throw at the construction project.
Grade: Pass!
Goal #2
Specific - Reduce my credit card debt
Measurable - By 50% or $9,137 (rounded up to $10K)
Achievable - Monthly payments of $762
In April I cashed out a CD that was expiring and putting it towards this goal. But since I have a construction project going on, it’s making this difficult. What I have done is to shift around the interest rate on some of my debt, but in the process I’ve also taken on $5000 more. I am considering moving that to ‘Other Liabilities’ on my balance sheet/net worth like I did with my medical expenses so I can remain focused on my original goal. Not sure yet.
Grade: Fail. Miserable failure.
Goal #3
Specific - Reduce my credit card debt on my highest balance card ~$10K
Measurable - By 50%
Achievable - ~$450 a month
I did end up making a $800 payment in April. I also made an extra $250 payment to try and snowflake my debt. And then the bathroom disaster struck. I took out a $5K BT on this card, so I am no where near achieving this goal. However, I think it’s fair to say this goal needs a mid-year revision.
New Goal #3:
Specific - Reduce my credit card debt on my highest balance card ~$13K
Measurable - By 50%
Achievable - ~$825 a month
Grade: Fair - Neither a Pass, nor a Fail as the goal has to be altered.
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