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Reflection on 2014 Progress and 52 Week Challenge for 2015

December 24th, 2014 at 01:13 am

Hi, everyone. As the year 2014 draws to a close, I feel the desire to reflect on my amazing progress for 2014 and make goals for 2015.

Progress:
1) Made steady progress on paying off cc #2 and have kept it paid off since early November. Woo-hoo!
2) Have funneled that same energy towards paying off cc #1. Have not made it there yet, though.
3) Retirement account has increased significant, but I don't remember how much.
4) All of my savings accounts have increased significantly as a result of regular deposits and also deposits of found money. Several of the savings accounts are "sinking funds" that are for a specific goal. They have served me well this year and resulted in helping to meet those goals without going into debt to do it. I get really weird looks from one of my friends when I tell her I have 7 savings accounts, though, but I don't care. When I told that it is helping me to get out of debt, she seemed to think that was good. Woo-Hoo!
5) Refinanced our mortgage in July from 5.23% to 4.75%, lowering our regular payment about $27.00. We have continued to make the same payment, though.

Goals for 2015:
1) Continue to make steady progress on cc #1 and pay it off by 12/31/2016. I plan to pay a regular payment of $100 per month and also make extra payments when possible.
2) My boss has told me that I may be getting a bump in regular pay level next July. I don't know how much, but I plan to make use of it by bumping up my retirement contribution by 1%. I also plan to increase savings deposits and debt payoff with these funds.
3) We have already paid a deposit on another new window for our house and it will be installed in January, I think. We will continue to set aside funds for more work on the house, including more tuckpointing and some basic maintenance.

4 Responses to “Reflection on 2014 Progress and 52 Week Challenge for 2015”

  1. creditcardfree Says:
    1419384092

    I do really appreciate your patience in getting new windows on your home. Are you installing them yourselves, or are they installed by someone each time you get a new one.

  2. crazyliblady Says:
    1419392631

    I am not usually patient with things, so the fact that I can be patient about this is saying something. We are having our windows installed by a professional company and they are the newer triple pane type. We have about 12 windows in the house on the main floor and 4 more in the basement. We are not sure what to do with the basement ones. We had thought when we first got quotes from them that we would have to wait until we saved money for all of them because we did not want to go into debt, but they told us we could do one window at a time if we want and be reaping the benefits of energy efficiency as we go. It sounded like a great idea and best of all, there are no debt payments to make.

  3. LittleMissSplendid Says:
    1419406832

    Who cares what others say, I think having multiple savings accounts is a good way to stay organized. It sounds like its working for you so that is what is important. It also looks like you did well in 2014 and are off to a good start for 2015.

  4. FrugalTexan75 Says:
    1419463987

    You've made good progress, and it looks like you have a good plan for the coming year. WTG!

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