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Archive for December, 2013

2014 Goals

December 24th, 2013 at 06:01 pm

It's that time again; 2014 Goals!

Debt Service:

1. Auto Loan paid off by June 2014. This will actually happen by itself with regular payments, which will be 18 months early on our 48 month loan. Once it gets down below $1,000 I may reevaluate with a lump sum payoff. Right now, it costing us less than $6/ mo. in interest.

2. Mortgage principal only payments. Sending $50/ mo. additional principal only payments for 2014. I have automatic payments set-up from our savings account.

Retirement/ Savings:

1. ROTH IRA (ME), fund $50/ mo. I have automatic contributions set-up from our savings account.

2. ROTH IRA (DW), fund $50/ mo. I have automatic contributions set-up from our savings account.

3. Emergency Fund to $10,000.

Home Improvements:

1. Fence for rear yard. DIY project. $1,500-2,500 depending on materials used.

I made the goals a little more accessible this year. I had hoped to have the auto loan paid off six months ago, but other things came up and DW switched job to a much less stressful one, but at the expense of less wages.

Here's to 2014! Smile

Finally Opened ROTH IRAs for DW and Myself!

December 24th, 2013 at 03:01 pm

We finally did it!

I have been pondering this for over a year. We set up our accounts through Vanguard. I originally wanted to have $10,000 in EF before we did this, but I figured we're missing out on compounding interest! The saving account interest is pitiful. Have to start somewhere, right? So we funded both with the initial minimum of $1,000 and set up automatic monthly contributions from our savings account, not much, but I feel good about the decision!

Wells Fargo Question

December 23rd, 2013 at 08:20 pm

I figured I would ask here in the Blog section before I asked in the Forum section, but those of you who have Wells Fargo Mortgages or Mortgages Serviced by Wells Fargo, are you able to set up automatic additional principal payments further than 1 month out? I only have the option to set up one month ahead, which is kind of annoying if you ask me. I wanted to set-up the whole year, so as to set it and forget it, but no avail. They probably are doing that hoping I would forget so they can make more money on interest! Haha!