Well, I only had a 1.91% increase in my Net Worth this month, while I work on getting caught up on some bills and adjusting to my new income level. I am also missing a check from last month that usually lops a big chunk off of my debt. I'm expecting it any day now. It's also the last time I'll receive that check, which is a sad thing. Luckily, my new income level will cover this "loss".
Here is the break down for this month:
Car Value - $2,730 (No change)
Prosper Loans - $205 ($219)
Cash Savings - $732 ($620)
Roth IRA - $20 (New!)
Student Loans - $23,781 (No Change)
BOA Credit Card - $4,559 ($4, 704)
Scooter Loan - $1,210 ($1,400)
- $25,863 (-$26,286)
You can see the handy chart in my sidebar that links to my NetWorthIQ profile.
So, having done my budget for the foreseeable future, I'm estimating that I'll be able to pay off my non-student loan debt by the end of September. I'm going to have to really knuckle down and make this happen, but it certainly looks like a possibility.
After that, I'll be heading into Student Loan Mode. I'm very lucky that this is not an interest bearing loan, but I have to have this paid off before I am 30 so I have a limited amount of time to take care of it, and the longer it takes me to get started, the bigger those monthly minimum payments are going to be.
I'm also working on saving more. I'm working on my emergency fund and want to get it to $3,000 as soon as I can. I'm also putting a little of my side income into my travel fund and my IRA. I finally have an IRA! I'm not contributing much to it right now, but I will ramp it up over time. When I get my emergency fund fully funded, I'll be diverting some of those savings to it.
I want to save for a house really badly, but I know that I can't really do that right now. I have to get this debt taken care of. I'll try and bump that up too once I'm not paying interest any where!
I'm predicting that March will be another slow growth month for me. I should be able to do much better than February though. I know I'm getting close to having my scooter loan paid off now and when I can start taking chunks out of that last credit card it is going to feel so unbelievably rewarding.