I updated my 2008 goal progress bars to the right this morning to reflect our end of January numbers.
This month we paid off alot of the credit card debt. The goal is to reduce my credit card debt to zero. This goal does not include B's credit card because it is paid off in full every month. By using my emergency money and some money from B's checking, we were able to wipe out half of the credit card debt this month. We are well on our way to accomplishing this goal in 2008. One credit card is gone. Our next mini goal is to get the other card balance below $1,000.
Retirement was not so good this month. Our accounts rose a total of only $95 which doesn't put us very far towards our goal of $10k. Hopefully next month will be better because we still have 98% to go towards our goal this year.
Paying down our total debt was a decent month. We got 29% closer to our goal of being under 30k by the end of 2008. Hopefully we keep this up and go below our goal!
Total net worth did not have a good month. While our debts decreased quite a bit, so did our cash. What we saved in retirement did not show in the small increase in those accounts. What we paid out for our wedding location won't help us for the next 4 months. While we paid down alot of the credit card debt, it was at the expense of some of our savings so the cash number went down.
Overall, I am pleased with the debt reduction this month. Hopefully next month will be a better month for retirement and overall net worth!