Or the end of one thing at least.
Holy cow! How did we get to November? Welcome to another over-sharing special.
Before we get to the whole of the debt, as you can read in that picture, I hit what I think is a pretty big milestone this month — my credit card balance is smaller than my savings account balance for the first time in ages. I understand both that they’re just two numbers and that I’ve got lots of HUGE hills to climb before I’m financially independent, but looking at that feels pretty incredible! It really gives me a peek at what’s at the end of the tunnel!
Alright, let’s look at some numbers.
The good (in green): Look at that credit card debt! It’s finally starting to look like a real amount and not some impossibly giant number made up to scare children. There’s some backstory down in the goals below if you care to read it.
The also good (in blue): Look how much that net worth jumped! Yowza! A big chunk of that came from paying down the credit card debt, but the market helped out a lot too. Also, it feels odd to say this, but I’m happy to find my net worth is just a five-digit negative number.
The ugly (in orange): Combined, the student loan balances pretty much held steady. That was to be expected as I switched focus to this credit card, but it’s still not fun to look at. Hopefully, I can beat up this credit card by the end of 2013 so that 2014 can be the year of the student loans! Huzzah!
Let’s see how I did with the goals I set at the beginning of the month:
- Get my DKCCDIF account to $5,000: Pass! OK, technically, I failed at this. Get ready for a bit of story time. I did a credit card balance transfer whose introductory 0% rate expires in January, so I came up with the bright idea at the beginning of this month to create a separate bank account that I’d grow until December when I’d take the whole balance and send it to my credit card company, thus paying off big chunks of my credit card debt. I made it an October goal to grow this by shrinking my emergency fund by $2,800 and putting an additional $2,200 in there. But as October went along, I realized that I could achieve the same thing and be a way less complicated person if I just PAID OFF $5000 WORTH OF CREDIT CARD DEBT! So that’s what I did. I may have failed at the goal, but won at life.
- Pay $800 toward my student loans: Pass. I paid $800 and watched the student loans accrue $700 in interest…which feels insane.
- Refinance my property: Pending. Odd that I made this a one-month goal, since I know from experience that a refinance can drag on. Still, I’m many steps in, having completed all the paperwork and completed the appraisal. This should be done by the end of November as Green Tree Servicing seems very motivated to complete this refinance.
- Network hard at the Finance Blogger Conference: Pass. I made meeting 20 people over the course of four days at a professional conference a goal and easily did that much the first day.
- Run 80 miles: Fail. Oh my. I completely forgot about this. I did not even come close and instead got pretty fat this month. Hopefully I find winter sports to get back in shape.
And that’s that! How did everyone else do on their October goals?