Financial Fridays - Where I stand

One of my goal has always been to be financial stable. It is quite hard with the job I have which I love but I have learn to sacrifice things to make ends meat.

Since I was little I have always loved crushing numbers. Every week since my first job, I would take out a calculator and determine how much money I will have (or owe) at the end of the week. Even though I love crushing the numbers and looking at budgets I have never been great of tracking the numbers as I go.

I went to a college that was completely cover by an in-state tuition. I always paid at least the minimum owed on my bills. I also have never had more than two credit cards. Currently holding only one with reward points.

One thing you need to know is I have always been afraid of debt. Deathly afraid. I have seen numerous family members refinance their house or declared bankruptcy. I never want to be like that.

So what is my current status? While my biggest investment is a townhouse. I owe a house. Therefore, I have a mortgage. $1,265 a month which is split evenly between me and my boyfriend who makes about $4,000 more than me. I am okay with this as it was my choice between mortgage or rent. Plus I know if I can't paid he will help with my half as I would help with his.

My one and only credit card is at $660 mostly due to the cruise has not been paid off yet and my Texas vacation. My saving account is split between my vacation funds as well as emergency funds. This account sits about $3,280. My retirement fund has been made up with my tax refunds from the last three years: $2850. I don't let my checking account go below $1,000.

My financial goals are to have $5,000 in my emergency fund, put at least $1,300 in a retirement each year and to have $0 credit card balance at the end of each month.

How will I achieve this? By patience. I will have good weeks and fail at some weeks. I will learn from those failures. Hopefully by blogging every week and trying to spend a total of $1250 ($950 in Mortgage and utilizes) I will achieve financial freedom.