About Me

Dido

GOALS for 2008

1. Continue to save 15% of earnings (ideally 20%). To do this, I will make special effort this year towards cutting food costs.

2. For 2008 only, put most of that towards short-term savings (CD ladder) to give myself sufficient liquidity during a career change.
Jan 1, 2008 cash balance: $8023
Mar 31, 2008 balance: $8200
June 30, 2008 balance: $8606

3. Do everything possible to make that career change happen! Planning to do an internship this summer and apply for jobs in the fall. Although I'm not a traditional college student, that's what the market is geared for, so I expect the career changeover to occur in June 2009. I am set with employment until then (phew!)

4. Continue paying extra on the mortgage. Goal is to cut my payoff date down to 22 years total (age 67) or ideally 20 (age 65).
Jan 1, 2008 balance: $89,300.
Mar 31, 2008 balance: $89,000
Jun 30, 2008 balance: $88,560

5. Continue investing for retirement--at least 1 million. Goal is to get there by no later than age 65, ideally age 60. Currently I'm on track to do so, as long as I can (1) earn an average of 8%/year on my retirement savings and (2) get some contributions towards my retirement from my employer.
balance 1/1/08: $127K
balance 6/30/08: $121K (market drop)

6. Nonfinancial goals: Lost at leat 15% of my weight (so far I lost weight during Jan & Feb and regained it during Mar & Apr), exercise daily, and maintain at least a semblance of a social life.

ABOUT ME

I grew up just outside of Beverly Hills in a family characterized by both a Depression-era fear of want and a tendency to solve many problems by throwing money at them. I still struggle with both tendencies myself. About 15 years ago, I had a "financial awakening when I read "Your Money or Your Life" and I've made significant progress since then, but I still find the journey a struggle on a daily basis.

First Day of School

August 28th, 2006 at 05:36 pm

and that means that a paycheck, at long last, will not be far behind. My full-time teaching job pays monthly and I won't get that check until Sept. 20th--but the good news there is that they gave me a 3.6% raise (as a temporary faculty member, one is never sure what the raises will be). I have a part-time one-night-a-week evening job as well, and that one pays biweekly. I'm hoping the first check comes Sept. 8th--if not, it will arrive the 15th. There's just over $1000 sitting on the credit card bill right now, and groceries still to be bought, so I'm looking forward to getting cash in, paying off debts, and starting to save again after draining my liquid funds this summer.

Oh, today was a no-spend day, too.

Posted in Struggles, No Spend Day | 2 Comments »

2 Responses to “First Day of School”

LuxLiving Says:
August 28th, 2006 at 05:38 pm

WOW a raise! Congratulations!!
DivaJen Says:
August 28th, 2006 at 08:10 pm

Does your bank/credit union offer some sort of summer saver program? I used this when I only got ten checks a year, and it helped make sure I had money over the summer. You could do the same thing with automatic transfers to a savings account. Just a thought.

Fiscal Fitness

Aiming to save 15% of my earnings and to lose 15% of my weight in 2008!

First Day of School

2 Responses to “First Day of School”

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