GI Jane Finances

December 7, 2010

A year of review

Filed under: Uncategorized — gijanefinances @ 1:27 pm

I began paying double on my mortgage starting Dec 2009.  Here is how 2010 started out in Jan:

$114,024 mortgage on rental

Retirement as of 3 Jan 2010:

$90,950

Saving accounts as of 3 Jan 2010:

Car: $1253

Vacation: $852

EF: $2556

House downpayment: $3165

Total: $7826

Fast forward to December 2010:

Mortgage is now $99,612.69

Home down payment: $12,663.80

Car: $4582.67 (on 15 Dec: $4882.67)

Vacation: $407.20 (on 15 Dec: $707.20)

EF: $7111.41 ($7611.41)

Retirement: $124,943.33

Retirement has grown by $33,993 since the beginning of the year.  Minus contributions, it has grown $13,309.33.  Modest–but I will take it.  I still need to contribute $816 to my Roth.

I am very pleased that my mortgage is now in the 90’s.  If I stick to my current plan, the balance will be $83,220.14 by the end of next year.  The pay off will also be in 2016 instead of 2033. I love the BOA amortization calculator.  That is the only good thing apart from loaning me the money I can say about BOA.  They used to be on by sh!t list in the 90’s.

My move next year may throw off the savings plan.  Not sure if I will get Europe or the states.  I will hold steady until I leave Korea.  If I move to the states, it will reduce my income somewhat dramatically.  Since I do not have any debt apart from the rental mortgage, hopefully the move won’t impact my savings plan regardless of where I move.  Moving can be expensive.  I do plan on selling my 96 Kia for at least $1,100.  I look forward to my next assignment.  Next year, I will only have 5 years left in the military–hence the plan to pay off my rental by then.  Woo hoo!

GI Jane

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