Friday, February 28, 2014

Financial Freedom Friday: February

February Debt Demolition... $-1,200 but with the lovely interest rates, etc...that really only makes my debt $885 smaller than last month but progress none the less. 

The really bad thing is that we went to see a cpa last Friday and he is re-doing our taxes from what HR Block did.  When he was looking over things, he said "I'm not liking what I'm seeing".  Umm.... can you come up with a better way to explain that to this overly anxious person that is translating that as "you're going to owe even more than what they said"??  So we're playing the waiting game and I'm really not sure how long we are going to have to wait for him to be through with them or how much it's going to cost us afterward (they said it could take 3 weeks).  So I may be reluctantly adding another $1,300 to my debt total.  1 step forward, 2 steps back.  Seems to be a recurring pattern in my life.

I decided to make a list of goals (however lofty they may be) for 2014.  You can't reach goals if you don't make them right? And you might as well make them challenging.  So here they are...

2014 Financial Goals

Debt Payoff:
~Pay off credit card
~Pay off whatever IRS money we are going to owe
~Pay off our car

Savings:
~Save 1 month's worth of income as a cushion (next year, we will hope for 3 months)
~Save for baby (I don't want to wait until I'm pregnant to do this one!)
~The alternative to saving for baby would be saving for a down payment on a house.

Other:
~Look into additional Life Insurance.  Dave Ramsey suggests 10x your salary.

What are your financial goals for this year?

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