Friday, January 13, 2012

January 2012: $21,875 (+$4,154)

Bank accounts$20,273
Mutual funds$48,700
Pension savings$3,757
Student loan$–50,856
Net worth$21,875
Burn rate1,59 years

Another good month, although I had some large expenses (including paying for a holiday trip). Next month I will start paying down my student loan. It is a $51,000 loan with a fixed 3.36 % interest. The payments will be $900/quarter = $300/month. Slightly more than half of this will be principal payments.

Sunday, January 1, 2012

Financial goals for 2012

Happy new year! Here are my financial goals for 2012:
  1. I earn $75,000 in 2012.
  2. I save more than 60 percent of my net income in 2012.
  3. I have a net worth of more than $30,000 by July 2012.
  4. I have a net worth of more than $50,000 by December 2012.