Monday, January 7, 2013

Embracing the New Year

I love a clean slate.  It is so satisfying to leave the old year behind and embrace the new year before you.  A week into 2013 and I'm feeling very positive.  GJS is back to work.  I'm back to having reliable internet access and I'll be the first to admit that I'm a bit nervous about getting back on the debt snowball band wagon.

We transferred several thousand dollars out of our emergency fund back into our checking account in order to start up the snowball again.  Then our washing machine broke and we had to replace it.  We needed to use a bit of our saved money to cover the cost.  Now we're into January and we don't really know how much money either of us will be taking home.  The one known quantity is GJS's last unemployment check.  Garrett's salary is unknown since he hasn't received a paycheck yet, my salary is unknown due to changes in health care costs and taxes.

By the end of January we should have all our paychecks and unemployment checks which will allow us to calculate what we have left over in checking that can be transferred to the Mortgage Center for principle pay down of our mortgage debt.  I cannot wait for this.  My optimistic hope is we'll be at $50,000 left on our mortgage by the end of January 2013.  $50,000 is still quite a daunting amount, not to mention the student loans, but i like a nice round number.  2013 will be year 2 of 4 of our total money makeover.  Time to get the ball rolling.

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