State of the Finances

on Friday, May 1, 2009

Well, well, well... another month come and gone already! Let's get to business shall we.

Savings- we did better than expected this month in our saving categories. This is partly because we deposited our wedding checks and partly because we got some good deals on baby products.

Increase of $585

Increase of $2295
This means we surpassed our goal and it's in need of revision. We are trying to save enough to go to Germany next spring so most of our wedding money went into this account. We are unsure of how much we'll need to get the three of us to Germany and to sight see but we are thinking our goal should be $5,000. If we spent it all that's fine and if we come home with some that's even better.

Again, we haven't touched retirement. I am going to call about setting up a retirement account through work sometime this month. I'm pretty sure I have to be there ten months before I can do this and I'm fast approaching the ten month mark.

We have a very stuffed piggy bank right now for our little O. When S finishes college we are going to open a savings account for her and deposit this month. This will be done this month so we'll have someone to show in O's account next month.

Our net worth, went down by $3,375. I am very disappointed. S had to take on another student loan to finish up college. He should not need any more loans and we're working on paying his credit card off so I hope to see a big change in the right direction next month.

Debts- We acquired more debt this month. I'm disappointed by this. The student loan debt was necessary but S added a little to his credit card debt which was not necessary. I can only say, we are starting a budgeting challenge today and hopefully that will allow us to free up some money to throw toward S's credit card to get that balance down and eventually gone.

We will have better things to report next month.