Thursday, January 26, 2012

Updated "All About Debt"

I went ahead and updated my "All About Debt" page.
It shows the debt repayment plan that I'm trying to stick to this year.
At a minimum I need to put $1000 towards debt repayment and I'm hoping that I can increase this amount.  But there are things that I need to save for, specifically:

  • Emergency fund.  I'd love to see more progress on this and reach $1000 this year.
  • Blinds fund.  Our 5-year home ownership anniversary is on May 1st.  I'd like to have all paper blinds replaced before this date.  Even if they're not the dream vision I have for window treatments, I'd like to get real window treatments up.
  • Best Friends Wedding fund:  My best friend of 21 years just recently got engaged and currently their wedding plans include a destination wedding early next year (Feb 2013).  At a minimum I must be at the wedding (since I'm in the wedding party).  Ideally I would love for our entire family to go, but this will be extremely difficult to save up for.
At this point I am hoping for good tax returns this year and will try my best to tweak the budget so that more money can be put aside.  I still need to do the calculations to determine how much I should be putting away each month to meet these financial goals.  Now that DH has gotten his first paycheque of the year, I can update our budget with his new paycheque amount and it will help me move the numbers around.

My upcoming paycheque will reflect my new salary and the effects of not purchasing any food from the work cafeteria.  I'm so excited to see the increase.  When I think about it, last year I spent $1200 on cafeteria food, this is more than enough to get me to my best friends destination wedding.  So I should really take that extra amount and put that away into the wedding fund, but of course some of that extra money should go towards the grocery budget, since we are buying more groceries now as well.  And of course, I still need to get better at meal planning and putting our weekly grocery list together.


  1. It's nice to have a goal so you can feel like the sacrifice is worth the effort.

  2. Good luck! I think having a nice EF is a great goal! Makes you feel more secure!

  3. Great job at figuring it all out. I agree with you that working on your EF is a biggie, get that fully funded and I bet the rest will fall in order. I have to rework our spending plan for 2012, I got too carried away by what we can really save, gonna have to back down on some of the payroll deductions