Tuesday, April 1, 2014

End of month financial check-in

Another month down and it’s time to review the finances again.

All told we made some good progress this month. I finally settled on my priorities: kitchen loan gets top priority as it’s due in full by October. In tandem we fund the emergency fund until it’s full. Then we work on my student loan.  

We had two huge household problems this month that convinced me to put some serious effort into building an emergency fund. We had a very expensive furnace repair. Then we had some serious water damage into our bathroom from the unit above us. Fortunately this repair was paid for by the condo association because the leak wasn’t our fault. If it had been our fault we couldn’t have afforded the repair. Now I’m pretty scared that we don’t have an emergency fund.  

As a result, here’s where we stand.

Emergency fund
goal: end of year
Kitchen Loan (1.99%)
deadline: Oct 2014 
Student Loan (2.65%)
goal: end of year
Starting balance: $0
Goal: $20,000
Balance on 3/31: $2,520.88

$2520.88 saved so far

12.6% filled

Starting balance: $10,000.00
Balance on 3/31: $4,130.43

$5869.57 paid so far

58.7% paid off

Starting balance: $8,127.00
Balance on 3/31: $7,750.58

 $376.42 paid so far

The next few months we will likely have to pull back our savings as we pay for the kitchen and then focus on rebuilding our very unhappy-looking checking account. But as I learn to spend less money on dumb little things I'm confident we can reach at least two of our three goals this year. I realize that we likely won't be able to make much of a dent in the student loan this year. But I'm okay with that because we'll have a good emergency fund set up by the end of the year. 


  1. Looks like you're doing great with the kitchen loan - getting more than halfway always feel like a huge hurdle to me and you're over it! I love the bar graphs too . . I may have to look into getting some for my blog. :)

    1. Thanks! And let me know if you need a hand with the bar graphs, I'm happy to help

  2. I completely understand on the emergency fund thing. I'm trying to stick with a small one for now, but it is very scary. Great job so far!

    1. Okay, sad, but I got really excited when my comment showed up! For some reason I can not figure out how to comment on blogspot.com blogs! I'm soo technologically challenged! It's really sad.

    2. Thanks! Lol, I for some reason have trouble commenting on wordpress blogs.


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