State of the Finances

September - current as of 9/3/09

Savings:
Emergency Fund: We used a large portion of this to pay S's college tuition this semester so we are down a lot. Our balance comes to a measly $149.

Travel Fund: We used $1000 to pay down S's credit card. We are down to $1305. We are not going to reach our goal and will need to reevaluate our vacation plans in the next few months.

M's Retirement: Still chugging along at 4% of my income.

S's Retirement: Still unemployed so he has not opened an account yet.

O's College: We had a couple of deposits which increased this to $240. We will surpass our current goal. Hopefully, we'll be able to reach our stretch goal. This is one area where we are not funneling any extra money right now and most of her deposits have been gifts from family members.

Debt:
S's Credit Card (Our #1 Enemy): We paid off $1300 this month so we are down to a balance of $300 which will be paid off next month!

M's Student Loan: We are ahead of our target of $15,000 for this goal. It is down to $15,065 and will be under the goal after this month's payment. We will not get to our stretch goal but hopefully we'll knock a few hundred more off by the end of the year.

S's Student Loan: He's still in deferment due to being in school so this hasn't changed and won't for a few more months.

Net worth:
Our net worth has gone down yet again this month. We are making progress with our debts but S's student loan interest bill came in the mail last month and that was tacked on to his loan there for our net worth went down instead of up. We are at -$26,740. Even with our net worth going down we are thrilled by our progress for the month and can't wait to see what next month brings.

-M