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Archive for January, 2020
The new salary charts were posted this week. I receive a $2k raise which I’m very grateful for. The raise means not only increased pay, but an increase on my TSP matching. And although it may not mean anything for me, I was happy to see the paid parental leave bill get passed by Congress.
Writing a blog while I watch the College Football National Championship game.
I seem to have a bit more cash in my checking account than I anticipated so I wrote my mom my last loan payment. I hate owing money, but especially when it's my parents. It makes me feel especially irresponsible.
Now that my loan is paid off I will concentrate on paying off other debt. I'm really excited to be focusing on budgeting for the first time. I've always been so focused on saving that I've allowed my debt to get away from me. And honestly, the credit card is much more than listed, but I stopped updating it. My goal is to halve my credit card debt this year & pay it off entirely next year. I've read so many success stories of people paying off even more debt than I have so I know it's possible.
I finally got in touch with Vanguard & she showed me how to correct the issue online. It was very simple. So I was able to recategorize my contribution from 2020 to 2019. I now have $1k to contribute for 2019 & $6k to contribute for 2020. I will send $500 to my 2019 IRA in February & March.
I owe my mom one last payment of $250 for my AC loan. My TSP loan is now below $4k. My car loan will be paid off in the first half of 2021.
I transferred $100 to my savings yesterday & mailed $20 to the local food bank this week.
I received my Clever Fox budget planner this week. I really like it & I’m well into journaling my January budget. I brought my lunch 4 times this week! That’s a record for me.
I forgot to turn off my automatic contributions to my IRA, so I sent my first contribution for 2020 even though I still haven’t fully funded 2019. Whoops. Needless to say, I turned off the automatic funding. I will finish paying my mom back for the AC loan this month & should have the funds to max my 2019 IRA by April 15.
I have decided that 2020 will be the year I learn to live on budget. Honestly, I never tried before. Just spent as I pleased & my credit card debt reflects that. I want to start this decade off being mindful with spending money.
$686,902 Ten Year Investment Growth
I will update this blog as I find other stats to include.
ETA: 2008 was the first year that I maxed out all of my retirement accounts. I always contributed the max to my IRA & in 2008 I was able to do the same for my employer sponsored plans as well. Prior to 2008 I received no employee match, now I receive a 5% match.
Wishing a happy, healthy, and prosperous 2020 to you and yours!