Looking Toward the Future

Two days in to 2010, and I’m still recovering from our successful New Year’s Eve bash. Still need to take down a few more decorations and thoroughly clean the floors — there was lots of spillage. Good thing we have all hardwood/tile flooring, rather than rugs.

I spent yesterday balancing our checkbook and paying bills, which are all due next week. I didn’t do too much freelance in the last month due to a crazy holiday work schedule and all the preparations for Thanksgiving, my birthday and Christmas, but that was my own choice. I need to get back in the saddle again soon. We don’t *need* the money — our bills are paid just fine — but it helps beef up our savings accounts faster.

Speaking of savings, January is officially “Waiting for W-2s & 1099s Month.” This year, we qualified for the First Time Homebuyers Credit of $8,000, so we’re really looking forward to doing our taxes and getting a nice, big refund. Most of which will go straight into our savings account. We may buy something for the house as a treat, like a wine cabinet or a wet bar. But something under $500. Hell, perhaps under $250, if we can find something.

When our tax refund comes, I want to push some of that money into CDs — the nicely laddered CDs I had earlier this year were demolished when we purchased the house and wanted to put 20% down. In the long run, I think we did the right thing, but we’re slowly reconstructing our savings.

I will be happy to say the balance on Credit Card #1 will be history at the end of January. I’m anxiously awaiting that statement!

In a nutshell, our near-future plans:
1. Pay off credit card #1; make big dent in credit card #2 balance
2. Open CDs for higher interest rates after tax refund comes (March-ish?)
3. Ramp up my freelance work and increase our income
4. Increase extra mortgage principal payment from $25 to $50 by June.

Sounds doable, right?

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