Vanquishing My Debt

I'm 29 and trying to get a handle on my finances so that, one day, I can buy a home of my own. I've been reading personal finance blogs recently and decided to start one chronicling my own struggles and success (hopefully). I am lucky, considering the amounts of debt and tales of tragedy I've read about... but I am making some positive changes and moving in the right direction.

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Location: Los Angeles, CA

Friday, November 10, 2006

So today I turn 29... now what?

I'm shocked to think that I'm only a year away from turning 30 today... where did the time go? I guess the fact that my 10-year high school reunion is this weekend should have been a glaring clue. Due to the fact that there is no work in my department right now, I've spent some time this morning trying to plan some goals to accomplish by this time next year... by the time I turn the dreaded 3-0.

1) R and I will be out of debt by this time next year, except for his student loans and possibly my car (although we're going to try as hard as possible to knock that monthly car payment out of our budget!). We are down to about $6,500 in credit card debt, which due to some unexpected expenses recently is actually higher than we started. We have a chiropractor's bill totaling about $2,200 for R's back problems at the beginning of this year, and I'll be having some dental work done next month, which may get expensive... I don't have an estimate yet.

2) I will be out of this job, and possibly, out of this entire industry (which is pretty small). I've blogged before about hating, no, intensely disliking the company where I work and the people that I work with. I am sick and tired of finding pornographic links and photos on the computers, being called "babe" by the guys in the back, and being disrespected and unappreciated by my boss (who is related to most of the guys in the back). I'm also sick of having no work to do more days than not.
My self-esteem has taken quite a hit being here... I didn't even realize how much until I went on an interview for some freelance work. The owner of that company was delighted with what she called "my skills." I had forgotten that I had any such thing. Just hearing someone call what I can do "skill" has bolstered my ego enough that I know I should leave this place and soon. I'm very lucky that R supports me wholeheartedly, even if I end up taking a drastic cut in salary.
I'm making arrangements to transfer into another industry, which I'll blog about soon. My goal is to be out of here by Memorial Day, which is the 2-year anniversary of my friend and co-worker's death. I know she would hate to see that I'm still here.

3) I will have started a Roth IRA. I've been tackling our debt lately, and before that, I wasn't financially savvy enough to know about IRAs and why I should have one. Even if I'm not able to contribute much to it in 2007, I want to have one open.

4) R and I will be getting married either late next year or fall of 2008. I want to pay for our wedding and honeymoon with cash, which shouldn't be too hard since we don't want anything large and extravagant - just a small ceremony among the redwoods with maybe 20 guests. Which brings to me to my next goal...

5) Losing weight and getting fit. I don't mention it much since this is a finance-oriented blog, but we are both overweight. R turns 35 next month and both of his parents died from heart attacks. I'm turning 29 and while I don't have a family history of heart disease, I need to lose weight for my health, for a future pregnancy, and (yes, I'm vain) for my appearance. I haven't been happy with the way I look in a long time, and I need to do something about it for once and all.

I'm a bit nervous about creating goals for myself because if I take another job, I'll probably be paid less, which affects the possibility of meeting these other goals. But I'll figure something out. I want to be in a more stable situation at this time next year, and I truly feel like it's possible. Having faith is half the battle, right?


Blogger GolbGuru said...

Glad to see you guys planning ahead this way. You are right about half the battle. I would stretch it to 99% in fact. It's just takes the additional 1% to follow on your planned path. Keep it up.

1:43 PM  
Anonymous Golbguru said...

It was nice to see your comment. You seemed to have vanished after your birthday :)

4:15 PM  
Blogger The Divine Miss M said...

Lol - just lurking and reading others lately. I'll take up posting again soon. :)

7:40 AM  

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