July Financial Checkup

JUNE FINANCIAL CHECKUP

Moneysavingmom posted her monthly checkup so here it goes!

Extra income earned: $175

Total household savings 82%

Total spent on groceries/household = $144.37

I made my goal of less than $200 on groceries/household. I’m happy with the extra income earned (although I would like to make it $200 a month) and I’m very happy with the % savings.

Here were the goals we set in for the year:

1) Continue making minimum payments on our student loans (the interest rate is actually lower than our savings rate) – doing this

2) Pay the loan our parents gave us by July 2008

We should be able to complete this soon! One more payment to go 🙂

3) Put 10% of my income into the stock market

Still doing this, the stock market is dropping, but we aren’t planning on selling any time soon.

4) Put 6% of DH’s income into his retirement account – doing this

5) Put a set amount per month into an account for DS – doing this

6) Fund my retirement account to 30K by Sep 2009.

This isn’t looking too good. I am 11K lower than where I would like to be, LOL! The stock market drops is not helping. I am losing ground even though I am putting in at a decent rate. At least I will be fully vested (in the part my company kicks in) as of the middle of next month 🙂

7) Pay off our mortgage – we would love to do this by Jan 2011!

We made a huge jump this month and we now own 28.7% of our house! We still have a long way to go and the last half of the year is always much harder for us, but with the stock market account I am feeling a bit better about this. We are hoping that this will make it much easier to live on one income.

NEW GOALS FOR THE MONTH

1) Check on our Auto and Home insurance rates.

2) Open a stock account for DS & invest the money we have been putting away for him

What are your financial goals?

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