Emergency Fund Savings
I get a big fat juicy F for this. The simple fact is the Emergency Fund account should have had a balance of $877.26. As it stands there is a balance of $1.00. This is not only hugely disappointing, it is in fact very worrying. If we do not find a way of making up $877.00 then we will not make our goal of saving $10,000 by the end of the year.
Retirement Fund Savings
A+ As of today I have $1,098 in my employer matched Simple IRA. This puts me on track of saving $13,000 by the end of the year.
C- Despite the challenges of the month we went over budget by only $182.00. Our worst offenders were 1) Food ($72 over) , 2) Fast Food ($53 over) , and 3) Gas ($26 over). We are worried more about February, because we are expecting house guests. But for now we are moderately happy with our budget results.
Last week, we ran into one small problem (as you always do). During the last hurricane we had a bad leak from our window, as a result a whole portion of the sub floor is rotted out.
We needed to run to Home Depot and buy a new sheet of subfloor to patch this job up. Luckily it wasn’t an expensive surprise. Materials cost me $30 and labor cost me $30.
On Monday our new floor starts to go in. And by Friday the entire room should be finished. Then he can start on the living room, which the landlord has agreed to pay for.
Pay off Car Debt
Big fat F. I know I should be able to get over this loan but you know….We only managed to make minimum payments on the car debt. That means we have a balance of $14,691 remaining.
Pay off Credit Card Debt
Big fat F-. If I could give myself a worse grade, I would. Instead of paying off more debt, we added more debt. Once again this is the result of Unintended Expenses. We currently have a balance of $3,409.
So it was a pretty dismal month. Lets hope next month is better. I would love to know how you guys did for the month of January. Let me know in the comments.