Well our HR department sent out the form that allows us to modify our contribution percentage for the upcoming quarter. I went ahead and bumped up my percentage from 14% to 17.5%. This increase is a direct result of the planning I did in this post.
As you may know I decided earlier this month to set a goal for myself to save $100,000 in principal by the time I am 30. This is a pretty ambitious goal seeing as I have less than 4 years before the goal is suppose to be met and am not even a third of the way there.
Seeing as how I solidified my $100,000 by Age 30 Goal and seeing as how the goal is based simply on contributions alone, I think I will release a separate post each month detailing the process on that goal as the numbers will be different than Net Worth Report. I’m also contemplating changing the name of my “Net Worth Report” to “Retirement Nest Egg Report” as I think that better describes what I am tracking.
Well today I took my own advice and transferred about $6,000 that I had laying around in my ING Direct account and used it to pay down my HELOC. Some of this money is spoken for (2007 Roth IRAs), but either way I am better off putting any money that isn’t immediately needed towards my HELOC and then when Jan 1 comes around next year I will simply just write the checks from my HELOC for the IRA contributions.
I’m cheap or well frugal and I’m sort of proud of it. It’s not so much that I mind spending money, but if I know I can use my own ingenuity to find the same item for less I’m all for it. Besides not spending money on crap I don’t need, I often find ways to get the items I do need for less. I actually find it kind of fun and this is just one example of where I’ve used a little thought and effort on my part to save myself a few bucks.
Soon after I got my first job I got my first credit card. Because I traveled a lot for work and ended up putting a lot of company expenses on my credit card, I decided to get an airline miles card so that I could rack up the points. I put absolutely every possible expense that I can on my credit card and its amazing how fast the miles add up. …
Well after technically only having my blog up for about a week, I noticed getting a bunch of traffic coming from PfBlogs.org. I went to check out their site and they have a pretty awesome collection of personal finance blogs out there all consolidated into once nice website with an RSS aggregator. Anyway besides that extra traffic boost to my site, the site itself is a pretty cool concept and it looks like it is not for profit so you don’t have to be worried about getting blasted with ads in order to get access to the content.
Very cool idea and thanks to PFBlogs.org for linking to my site without me even having to request it.
Check it out http://www.PfBlogs.org