Feeling better

So after my little `poor me’ whine, I am feeling more OK about our position again. I must admit I can check out our Net Worth (which we are tracking at networthiq.com) and though it is not high (by ANY means) it is at least heading in the right direction. When I think about it, each week we pay $310 off our debt and put $300 away into savings. That’s pretty cool. We are working hard to do that and paying the price in terms of effort (caring for my father-in-law), privacy (=none) and lifestyle (=none). However, that really looks good when you chart it on a graph. In fact, I am considering publishing our Net Worth graph on here (but another part of me isn’t ready for that).

I wonder if it is true that as you amass a pile of cash it seems to grow faster and faster. I hope so. I would love to have $10,000 towards a deposit by Christmas. As things stand we have $2500, with 17 pay-days till the end of the year. That adds up to a total of (17 x $300) + $2500 = $7600. To make $10,000 I need to amass another $2400.

I am hoping the upcoming government rebates will add $500-$750 to that once the credit card is paid off and the EF topped up. In the best case scenario, that means I only need to find another $1650. And since I am doing some extra casual work at home on top of my regular casual job, that might largely be covered by the end of the year. I will still need to look farther afield to reach $10,000 though. Maybe I will work a few extra shifts in December once uni is wrapped up for the year.

Anyway, these are my financial goals by the end of 2007

  • pay off the credit card completely (and not amass more debt!)
  • reduce family-owed debt to $5100 (at $100/week)
  • reduce car debt to under $13,000
  • maintain an emergency fund of $1000
  • save $10,000

  I think we can do it, so I am feeling so much better about things. Thanks to Lynnae at Being Frugal for the injection of sympathy. She rocks!

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1 Comment »

  1. Anytime! Everybody needs some encouragement sometimes!

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