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Halfway through the year

July 10th, 2013 at 06:40 am

Since the end of June gives me a nice clean set of data for 6 months, it makes it easy to track where we are headed for the year.

Yearly spending with debt payments is $68k, $20k worth has been dedicated to debt or other payments that won't outlive this December. Another $18k in spending services debt that will be around at least one more year (read mortgage and car loan). There is something disturbing about spending more on debt payoff than actual spending but we have been making large payoffs of our debt so not too surprising.

We have only 2 more months before the credit card is wiped out so August is the final payment. We already have less credit card debt than at any other point since college.

Our networth increased 52.47% YTD as of end of June so we are still on track with that as well.

I revised our expected income up this year. Even though this is our first year breaking the 6 figure mark, we will surpass that by a decent amount. In fact, barring layoffs or job changes, DH will probably break that barrier all on his own.

5 Responses to “Halfway through the year”

  1. creditcardfree Says:

    Great progress!!

  2. snafu Says:

    Wow! Increasing net worth 52.5% by mid year is fantastic! That fact that it includes $20.K in debt elimination is gia-normous!
    You've obviously set a goal, stayed focussed and stayed determined. Best wishes to DH on breaking the barrier for 6 figure income. What moves to the top of the list in the next half of the year?

  3. Caoineag Says:

    Snafu, credit card gone by August and student loan gone by October and then maxing of 2013 Roths in the final part of the year. Any excess beyond that will go to short term savings because in 2014 I need to pay for a furnace and roof and build my EF. $100k in investments and $200k networth is our end of year goals and we are on track currently to blow past those as well.

  4. IndianGal Says:

    That is fantastic. What an inspiration!

  5. rob62521 Says:

    Awesome!

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