A Young Couples Journey Out Of Debt, And Down A Path To Financial Independence.

Monday, December 3, 2007

Financial Goals For 2008

1. Increase net pay from $3472.00/month to $4000.00/month. (from any source, not just primary employment)

2. Change my RRSP account to a mixture of low-cost index funds.

3. Finish paying off the Line of Credit. (March 31, 2008)

4. Increase investment account payments from $150.00 biweekly to $225.00. (after switching to index funds)

5. Make one extra weekly mortgage payment per month. (decreasing principal by $3392.00)

6. Have $12 000 to $15 000 saved up for my wifes' car purchase. Her lease is up in October, we want to pay cash for a car so we have no more car payments.

Most of these goals are attainable with a little hard work and some creativity. I am really looking forward to this year. Hopefully it will be a year with no debt. I haven't been able to say that in many years, wish me luck.

I would really like to hear what other pf bloggers are doing in 2008, Let me know?

Assets: +0.75, Debts: -2.74: Net Worth + 13.98%

November has not turned out to be quite as bad a month as I had previously thought it would be.

Our total debt load decreased by 2.74%. This was due largely to that lump sum payment I received from my pension.

I would have liked to see my total assets increase more on a month to month basis, but with the markets as they are I am glad that I am still coming out positive at the end of the month.

I am really pleased with our progress this month, we've had to resist a lot of consumer temptations, and it has paid off. We have also been able to resist temptation of another kind and are staying in the market for the long run. We are remaining positive and believe if we stay on the same path it will pay off in the end.

For a detailed look at the progress we have made, have a look at my net worth IQ profile.