Another challenging month. I was basically trying to get back in the swing of things but two things happened. We took a vacation in September and the total cost was $850. A great time was had by all and I really can't complain at the end of the day. The second thing is that if I don't work, I don't get paid. So, it was a three paycheck month instead of four.

Good news is that I lived within my means and didn't need to take on any new debt. The bad news is I only paid off $1,000 towards debt.

So let's get started.

My goals for 2008 are:

1) Pay off debt (except mortgage) by October 1st
. DONE a) Pay off CC by April 1st
. DONE b) Pay off Car 1 by June 1st
. DONE c) Pay off Car 2 by Aug 1st
. DONE d) Pay off wife’s braces by June 1st
. e) Pay off son’s medical by October 1st
2) Invest $15,000 by year end
3) Invest $15,500 in 401(k)
DONE 4) Review and reallocate retirement funds by end of Q1
DONE 5) Will by end of Q2
DONE 6) Life Insurance by end of Q2
MOVED TO 2009 7) Save $4,000 for college by end of Q4

1) Pay off all debt but the mortgage by October 1st

Total Debt
09/30/2008 - $12,898 ($1,000 paid)

Son's medical (0% interest rate)
08/31/2008 - $12,898 ($1,000 paid)

This won't be paid off by today or for that mater this month. With only one quarter left, this will be my primary goal for Q4 – Entering 2009 with only mortgage debt.

2) Invest $15,000 by year end

With the holidays coming up, most of this will be pushed to 2009. But, I'll see how much I can accomplish by year end.

3) Invest $15,500 in 401(k)

Invest $15,500 in 401(k)
09/30/2008 - $14,991 invested

Will be done with my 10/10 paycheck.

4) Review and reallocate retirement funds by end of Q1

DONE

5) Will by end of Q2

DONE

6) Life Insurance by end of Q2

DONE.

7) Save $4,000 for college by end of Q4

Moved to my 2009 goals. The $18k goal will fully catch me up to where I think I need to be with the 529 plans.

Summary

So, yea, life happens. Two goals will need to be moved to 2009 – saving $15,000 to top of the emergency fund and catching up on the kids college (the total goal for 2009 is $18,000).

Am I disappointed? Not at all. This is a journey; and looking back, I am in a lot better position then I was last year at this point. At this point last year, I had a son that was born in August. After being home for a few days, started having seizures. And medical bills were just starting to come in in October. I was living paycheck to paycheck and I knew drastic measures had to be taken.

I entered 2008 with debt of $49,442 and got a bill in June for more medical expenses of $4,498. I am looking to pay off $53,940 in debt this year and save $15,500 for retirement.

I also threw a great party for my wife in August that cost somewhere around $1,500 and went on vacation this last month for $850 and lost a week of pay.
I am not trying to brag or say look at me. I am just trying to point out that you can do this too. If you're in debt and feeling the pressure, perhaps you have small kids and a spouse you have to support, I understand. I have been there. YOU can change your path. YOU can succeed.

And with that, my Q4 goals (yes we are in Q4) are to pay off the remainder of my debt, save $15,500, and not incur new debt.

Remember, that this is the holiday season. I have started setting up a holiday budget. Not only for Christmas presents and wine for holiday parties but budget for tree, decorations, food and liquor for a party, wreaths, etc.