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I can't believe it is already September. This year has gone by so fast it almost seems like a blur. In a little less than four months, we'll be roaring into 2009. I guess we get so caught up in the daily hustle and bustle, the days and nights just pass us by and we don't take time to enjoy them. One of these days, I'll be out of debt and financially independent. I'll be able to take time to enjoy nice, relaxing days on the beach instead of spending my time stressing at work about things I have no control over.

In order for those dreams to become anywhere near a reality, I
must get my finances in order. I feel that I am doing okay but things can always be better. I've set goals to plan and track my financial journey. At the end of 2007, I posted a list of financial goals I wanted to accomplish in 2008. My last update on the list of goals was back in April and I had not met any of the goals I'd previously set. Here is a recap of the goals and an update of the status:
  • Increase Networth to $75,000. I actually exceeded this goal a couple of months ago and I've since increased the goal to $85,000. Depending on how things go for this month, I may increase the number a little more.
  • Increase Freedom Account balance to $5000. This is the account that I use to save for minor unexpected expenses, insurance premiums, automobile maintenance and as backup funds to my rental property account. At last check, the balance is a little over $3000.
  • Increase Rental Property Account balance to $1500. This is the account I use to cover rental property repairs. I've met this amount twice but I've had to use this account a couple of times this year to pay for repairs. Right now, the balance is just shy of $500.
  • Decrease my non-mortgage debt to less than $40,000. Done!!! Paying off my car loan helped to get this down to $22,500 which is the balance of my consolidated student loans.
  • Increase my credit scores to over 720 with each bureau. Done!! At last check, I had a 783 score with Equifax, 733 with Transunion and 721 with Experian.
I've added an additional goal to the list. I'm trying to minimize my expenses and keep my monthly outflows to less than $4000 per month. This number allows me to save over $1000 a month after all expenses.


  1. lulugal11 // September 10, 2008 at 10:40 PM  

    Good job on getting those credit scores up. I just looked at my FICO on CreditKarma and saw that it was just at 720 but I will not be checking the individual scores til next month.

  2. Anonymous // September 11, 2008 at 3:58 AM  

    Not a good financial year for me. I did increase my on line savings to 5 months of living expenses (6 if I do major cutbacks) and my 401(k) is looking better than it was this time last year but I was on an international work assignment for 6 months starting Jan 5. My expenses were reimbursed but when you don't understand TV it is difficult not to shop. My 2 high interest credit cards are paid off and now it looks like 2009 will be all about paying off my one low interest card. In the 3 months I've been back at home base I have dealt with huge dental problems and bills and my insurance is crap. My race now is to get it all taken care of before Dec 31 so I don't have to deal with a new year of deductibles!

    2007 was an incredibly good financial year. 2008 not so much. I am looking forward to 2009!

  3. Kacie // September 11, 2008 at 11:45 PM  

    I'm not so worried about my credit score right now.

    To have a higher score, I'll need to take on debt and I'm not interested in doing that.

    I know there's a way for mortgage lenders to check out your finances without you really having much of a credit score, so I'll investigate that option when it comes time to get into a house (won't be for awhile!).