July 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.


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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