Welcome to April, everyone! It’s a new month, and a new chance to take stock of how my debt pay-down is going. It’s also a good chance to see how I’m doing on goals I’ve set for myself.
Net worth up by $4,000
Let’s take a look at the numbers first
That top line number has been running wild in 2014. It’s crazy to me to think that my net worth has already increased by $16,500 this year.
However, the gains have mostly but it’s mostly come on the retirement savings side. My debt pay-down hit a speed bump this month, which I was only able to lower by $100 this past month, because I made some last-minute moves into tax-advantaged investments.
Now that tax time will finally be done after this month, it’ll be nice to be able to focus on paying down debt again.
Results of my goals
Goal #1: Pay down debt by $27,000. Off pace. Oh this is bad. Having paid off just $4,400 for the year, I’m more than $2,000 off the pace to hit my goal of paying off$27,000 for the year.
Goal #2: Increase retirement savings by $17,000. On pace. I’ve added $12,100 to my retirement savings already (which sounds crazy). I should be able to hit $17,000 by the end of summer.
Goal #3: Complete the 52-week savings challenge. On pace. I’ve kept up with the 52-week savings challenge which entails saving $1 the first week, $2 the next, and so forth. This past month, I transferred $9, $10, $11, $12, and $13 to my bank account. My emergency fund is sitting pretty at $5,091
Goal #4: Cut my spending on cell phone service. Pass. Oh, I passed this hard. I’ve added FOUR family members to my T-mobile plan now, bringing our average monthly bill into the $30s. By comparison, I was paying around $90 with Verizon.
Goal #5: Volunteer more. Pass! I’ve found some volunteer work I really love. I went into it in more detail in this post, but it can be summarized by saying that I help New York kids with math and help older folks get a little more computer literate — sometimes by helping them with accounting or budgeting. It’s way more fun than I anticipated and I’m looking forward to getting more into it!
And that was my March, y’all. Some wins, one big loss, but all in all, I feel like I’m making progress. How did everyone else do?