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Archive for June, 2013

Progress Report

June 2nd, 2013 at 01:22 pm

Our progress is slowing a bit as our summer spending is picking up. Networth increase YTD is 50.7%. Currently looking to pay off the credit cards by September (though we will be cutting that amount in half in June alone) and paying off the student loan by December.

Part of the slow down can also be blamed on the squirreling away of money into our retirement accounts. Our original goal of doubling the amount of money in retirement accounts should be met by October. We have been shooting for 100k in retirement accounts alone for awhile and are on track to meet that by the beginning of December. 2013 Roths and the EF goal will be shifting to the beginning of 2014.

Our first credit card payoff is June 7th with another chunk eliminated on the 14th. Between the two payments, $5k in debt will be wiped out. It will be our first time under $10k since college. I nearly wiped out the student loan first since that actually has interest on it but the credit cards are a bigger psychological victory. Besides, the student loans will be gone shortly thereafter.