Budget: 2007

The first half the my family’s fiscal year budget 2007 is up and I wanted to see how we have done so far.  Budget 2006 and Budget 2007 differ mightily for several reasons. One is that in 2006 we bought a house and in 2007 we have had home improvements in addition to me being laid off for a month. 

Even with the expenditures and lost revenue over the past six months we are still in a stable financial position and over half-way to our goal of having 6-12 months of expenditures saved in an emergency fund in case a job is lost or someone falls ill or is injured. 

We have no credit card debt; I paid off my student loan and currently all we owe is our mortgage and car payment.

By the end of 2007 we hope to have that emergency fund fully funded as well as having our Roth and traditional IRAs maxed, and my wife’s 401k maxed to the employer match.

We will revisted our budget goals in six more months and will see how we are doing. 

Written by Nagel on July 5th, 2007 with no comments.
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