Since I went ahead and paid off the credit cards, completely, loan repayment and savings plan is changing yet again.
1. bi-monthly retirement loan repayments (44 to go through June 2012)
2. now I’m at 25% of my 2 months of salary goal. at this rate, I’ll be there by Aug 2011.
expectations. In order to keep up with an increasing portion of the mortgage, I’ve had to commit all savings and am now borrowing against retirement savings.
So I’m now focussed on repayment:
1. bi-monthly retirement loan repayments (48 to go, through June 2012)
2. credit card 1 (four 1/2 more monthly payments: June, July, Aug, Sept)
3. credit card 2 (six monthly payments after cc1 is paid: Oct, Nov, Dec, Jan, Feb, Mar 2011)
Then can move to saving:
4. Two months (16 months, April 2011 through Aug 2012)
and the home purchase has taken its toll on this goal. All “extra” anything is going straight to the mortgage.
So I’m really in about the same place I was 6 months ago: About 2 months in the bank and 2 more months to go.
If I didn’t have an extra consulting gig – I’d be hurtling backwards on this one.
but it’s my savings too. I’ve got about 2 months worth now and I’m giving myself five months to save another 2 months of salary. That means by the end of April I should be there.