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Goals Review - May

May 29th, 2009 at 01:57 pm

What a month!! The big thing I accomplished this month was the refi. The net of the refi is that I will pay it off 11 years early, I will be putting $1,000 more towards principal a month, and it costs me less then $700. If you have a good credit score, equity in the house, and a job; I would look at refinancing.

I also noticed that I have contributed $10,600 to the 401(k) already his year. Looks like I'll max the 401(k) in August or September. Just in time for preschool bills and holidays. Maybe I can also start paying down the principal on the mortgage. We'll have to see how the year shapes up.

Speaking of that, I'm still only working 4 days a week. We haven't had any more layoffs since March and we have had a new hire. I think in a quarter or two I'll be able to work 5 days a week. But, it's just a feeling. In the meantime, I'll work 4 days a week and enjoy the family.

This brings me to another interesting thing I noticed over the past month. I have become more content. It wasn't like a switch, I think it was more a gradual thing. It's kind of like that story about the grasshopper and the ant. The ant works all summer and has food to last the winter and the grasshopper just wastes the summer away.

Last year, I had the nose to the grindstone reducing debt. This year I saved a 3 month emergency fund. I still budget and live below my means. I am just sitting on my pile of dirt enjoying the sunset while everyone around me is feeling all this financial stress and uncertainty. It really is surreal.

I think what has really started to click is that it's not what you make but what you save. I can't stress that enough.

And remember, get you will done and get life insurance, if you haven't already.

8 Responses to “Goals Review - May”

  1. Ima saver Says:

    You are right, I have always said it is not what you make that counts, it is what you keep! The most I ever made working in one year of my life, was $8300! But I still saved something every month!

  2. monkeymama Says:

    That's great! & all good points made.

    I agree on the refi. I think people around here tend to be too cautious about refi. Sure, we started over 30 years, but this makes it EASIER to pay it off sooner than we were going to pay our old mortgage. WAY easier. You have to look at the big picture.

  3. Aleta Says:

    Glad to have you back blogging again. Congratulations on your decision to refin.

    I've really admired how you have gone after your debts and goals.

    You are a prime example of what Dave Ramsey says. He says," live like no one else so you can live like no one else". You seem to live your life like he says.

    When most people don't know what they're doing from one moment to the next, you exemplify what it means to be debt free with some reserves to help out.

    As far as the emergency fund goes, we have to have more months than most people because my husband is self Employed. What we did was to start with the months that we could save up for and just added on one month at a time after that. It could have come from interest on the emergency money, left over money from paid bills, coupons,etc.

  4. north georgia gal Says:

    Congrats on feeling content! I bet that is such a relief!!

  5. Broken Arrow Says:

    Wow, congrats! That's awesome.

  6. Apprentice Bliss Hunter Says:

    Good advice...

  7. HouseHopeful Says:

    Great job Smile And I agree, there's always a way to save. Sometimes you just have to be creative about it!

  8. scfr Says:

    Thanks for the reminder about the wills. Now that we have a house and know we'll be staying in TX, it's time to redo ours.

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