Financial Challenge - January 2008

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Financial Challenge - January 2008

Postby mango » Wed Jan 16, 2008 8:00 pm

Hi all, I've been having such a productive time on the decluttering and weight loss threads that I found myself wishing there was one for financial goals. Well, here it is. Pick a financial goal that you can realistically accomplish by the end of the month, and post your progress. My goals: 1. Rent a safe deposit box at the bank and stash all credit cards. 2. Decide how best to use proceeds from home equity loan. 3. Pay all overdue bills. 4. Pay overlimit amounts on credit cards. 5. Get car registered before the police pull me over and fine the hell out of me. :P
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Re: Financial Challenge - January 2008

Postby Unity » Thu Jan 17, 2008 2:45 am

Good Luck Mango! I'll probably join you later in the month.
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Re: Financial Challenge - January 2008

Postby mango » Thu Jan 17, 2008 7:25 pm

Thanks, Urszula! I haven't done anything toward these goals yet. I will be paying all overdue bills tomorrow, though. Will make a list of those before I go to bed.
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Re: Financial Challenge - January 2008

Postby mango » Sun Jan 20, 2008 9:21 am

Haven't done a damn thing! Isn't there anyone else who has a little financial goal to accomplish by the end of the month? I need a partner in crime. Goals for this week: Sunday: decide how best to use home equity loan Sunday: pay all overdue bills and overlimit amounts on credit cards Sunday: find driver's license handbook Monday: read driver's license handbook Monday: gather paperwork for car registration Tuesday: bank to rent safe deposit box and stash credit cards and important papers Wednesday: DMV to take driver's license test Thursday: DMV to register car
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Re: Financial Challenge - January 2008

Postby kashtanka » Sun Jan 20, 2008 8:07 pm

Hi Mango, I'll join you, even though there's nothing major on my list of financial goals. For January it is to put a big chunk of money towards a credit card, say $1500. If we have a thread for next month, I may have some more. Last year I had a lot of them...to save for new furnture, to open a money market account, to help pay for my step-daughter's wedding, etc. Maybe the reason that others have refrained from posting a goal is that the month is almost over... Kathy
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Re: Financial Challenge - January 2008

Postby Unity » Mon Jan 21, 2008 2:28 am

Hi Mango and Kashtanka, Find the best value, reliable business to get jobs done round the house that I'm putting off. Start making notes re budgets, home file.
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Re: Financial Challenge - January 2008

Postby Scenario Thinker » Mon Jan 21, 2008 6:10 am

1. Figure out how much extra to pay on my mortgage to pay off the house by the time I retire (maybe I'll reproduce details in my Financial Independence thread). 2. Refresh my budget and see how I've been spending since budget crackdown. 3. Finish figuring 2007 taxes, so I'm ready to file right away when I get W-2's (I get a refund this year). 4. Try to re-allocate the crappy options in my 401(K).
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Re: Financial Challenge - January 2008

Postby mango » Mon Jan 21, 2008 10:12 pm

Yippee! Thanks for joining me. Yesterday my husband and I discussed how to use the first part of the home equity loan. Today I finally managed to pay all of the overdue bills (and a few others). Tomorrow I will pay the overlimit amounts on the credit cards, reprint the DL handbook, read it, and gather the documents for the car registration.
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Re: Financial Challenge - January 2008

Postby mango » Tue Jan 22, 2008 8:11 pm

Well, I did download the Driver's Handbook and the title application for the car, and I gathered the rest of the necessary paperwork. And I spent a lot of other time trying to set up a mortgage refinance... Will see how that goes. If all goes well, will be able to skip the next two mortgage payments and use that money for something else. I really have to pay the overlimit amounts on the credit cards tomorrow. Putting it on my To Do list right now.
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Re: Financial Challenge - January 2008

Postby kashtanka » Tue Jan 22, 2008 9:41 pm

My new financial goal: keeping my husband away from sales flyers!
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Re: Financial Challenge - January 2008

Postby Unity » Wed Jan 23, 2008 1:54 pm

Finally found an ad that I'd lost so hopefully next week will make some phone calls. Feel in serious procrastination mode.
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Re: Financial Challenge - January 2008

Postby Mogget » Wed Jan 23, 2008 9:12 pm

I took the plunge and did it! I took ALL my banked money and put it in a term deposit - for the first time in several years I am living paycheck to paycheck again!Arrrrgggghhh. It became painfullly obvious how much money i have been in the habit of frittering away on a daily basis.
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Re: Financial Challenge - January 2008

Postby Unity » Thu Jan 24, 2008 4:36 am

Well done Mogget, you'll be pleasantly surprised before long when you'll see how much you've got.
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Re: Financial Challenge - January 2008

Postby SMM2005 » Thu Jan 24, 2008 7:36 pm

Hi Everyone! My biggest financial goal is to save a bit more money. Right now I have been searching for a new place to live. I want to move down South. So, I am planning on a small vacation in Feb. to check things out in Charleston, SC. Between the travel costs, and possible costs of moving at some point, I would not be able to save as much as I would like. So I guess my goal could be "Earn More to Save More?" Something to think about before retirement. I would like to join everyone on this thread in Febuary after I plan my goals. See you then! Susan
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Re: Financial Challenge - January 2008

Postby Scenario Thinker » Sat Jan 26, 2008 10:26 am

Scenario Thinker wrote:1. Figure out how much extra to pay on my mortgage to pay off the house by the time I retire (maybe I'll reproduce details in my Financial Independence thread).
Couple hundred bucks.
Scenario Thinker wrote:2. Refresh my budget and see how I've been spending since budget crackdown.
Working on it this weekend.
Scenario Thinker wrote:3. Finish figuring 2007 taxes, so I'm ready to file right away when I get W-2's (I get a refund this year).
Did all my taxes (meaning Federal and State)! They're done! Last year it took me until March and I had more coming back. Oh well. I ended up using: http://www.express1040.com/ for $8.95 for both Federal and State. In previous years I've used Turbo Tax and not that I'm worried about the $29.95 they now charge, but I thought I'd try something different. I got Express1040.com from the IRS website listing affordable tax prep sites ( http://www.irs.gov/efile/lists/0,,id=101223,00.html ). I at least glanced at all of them, but I narrowed it down based on the look and feel of the site. It ended up working pretty well. Mostly bare bones from what I could see. I just needed to plug in the numbers and file. It also did State, in the past I did State on their separate website, because places like Turbotax would charge another $20 or $30. I'm sure most of those other sites would work fine, but I wanted to pick one and go.
Scenario Thinker wrote:4. Try to re-allocate the crappy options in my 401(K).
Maybe this weekend. Get out of company stock (now that it had an up tick since the Fed lowered interest rates). From what I've been reading, you don't want too much of your retirement in company stock. People at Enron lost their jobs AND retirement, ouch.
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