Thursday, September 15, 2005

What am I doing?

I need to get back on track.

For the last few months, I've sort of been skating along...not exactly racking up the debt, but probably not being all that frugal either. I have been putting away the $250 month in savings and investments, but otherwise I'm pretty much spending all my income. I'm not behind on any bills, but I'm not making up ground either. My last two car payments have been for the minimum...the first time in the nearly two years I've had the car that that has been the case.

Was it summer? Did the good weather and having things to do put me in the position of not caring about my finances as much as I should have? Could be. In any event, I think I need to outline some goals for the fall:

  1. Create more passive income - $1000 a month would be ambitious. I'm going to try.
  2. Increase my savings plan by $100 a month.
  3. Pay off the credit card, despite having 0% APR for a year.

4 comments:

Hazzard said...

Just curious. If you have a goal to increase your passive income to $1000 per month, why not increase your savings to the same amount?

I'm assuming that you are living okay on the amount of money you are bringing in now. If that's not the case, then never mind. :)

Hazzard

Everybody Loves Your Money

=)Bnpositive said...

I'm curious about your steps to creating passive income. What are you pursuing? Very interesting in increasing my income as well.

Jose Anes said...

Debt reduction is like loosing weight. Discipline is very important. :)

And you either have discipline reducing eating (purchases), or increasing excercise (income). :) Both at the same time are the best way to do it.

Money And Investing

My Personal Finance Blog said...

I suffered from a similar problem for a couple of years... It wasn't until about 2 years ago I got serious and paid off debts etc. Now I'm approaching 40 (when did that happen?!?) and find myself well behind where I'd like to be.