Thursday, July 10, 2008

Payday update

Well, I got paid today. Ms. Loonie has switched to a twice-a-month pay schedule, which means that her next paycheque will come on July 15. At that point, we'll finally know for sure what her net income looks like, and we can modify our automatic funds transfers as needed.

I've updated my goal bars and NCN Network chart, with my revolving debt finally breaking the $19,000 barrier. It looks like I'm roughly on-track to hit $14,000 by year-end, although the April 2009 target that I set last summer to eliminate the debt completely is looking less and less likely. I knew this was an ambitious goal when I started, so let's see how close I can actually come.

With the bear market we find ourselves in these days, the only way I can maintain forward progress is to keep chipping away at my debts, and keep socking away cash in my Freedom Account and Emergency Fund. Along with continuing my bi-weekly contributions to my RRSP, these are the elements of my financial picture that I can control directly.

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