Wow! I made it to my 100th Post! It's been an amazing journey this past year. Almost $30,000 in Credit Card debt was paid off. Our savings account has grown a lot so that if there is an emergency we have cash available. We have a pending house purchase (Come on seller's bank!) and we're still paying down debt.
In life, J has been in Afghanistan for 8 months total, I was promoted at work and am making more money to go towards debt and we can actually afford the more expensive, but BETTER health insurance from my employer, and we're finally not living paycheck to paycheck.
What a great year we had :)
This new year, will hold new debt paydowns and payoffs.
For work, I found out while I was on my cruise from my supervisor that our yearly bonus had been approved by our Board of Directors. Normally there is a range from 90% - 110% depending on how well we did with the goals that were set out and your bonus is based on your yearly review, also in a percentage. My percentage would be for an 'Exceeds Expectations' this year. The last 2 years we had been approved at the 110% and based on the numbers that had been updated throughout the year, we were thinking that it would be 110% again. With that, I would get 9% of the gross income for 2011. I would get about $2500 after taxes. A nice in between bonus I'd say! Considering last year it was only about $750.
Well, we didn't get 110%. We got approved at 116%!!!! Which means MORE in bonus money for me! The 9% of my income became 10.8% which will be closer to $3000 after taxes :)
I was going to put all of it towards debt, but since we're doing so well, I am going to put it into our ING Savings and use it for our next vacation. And since I have fallen in love with cruising, J and I will book that here shortly (as soon as we can decide on where and when we want to go).
Speaking of doing well on debt, I thought I should update the numbers. I didn't realize that the last update was in September! So here's a shorter list (no need for the CCs anymore) and I will have to update them again tomorrow since that's when I get paid.
Loans (the amount in parathensis is the amount since the last payment, not since September when they were last posted)
Navy Federal Auto Loan $8376 (381) - This loan originated at $19,768 in April 2008
Navy Federal Signature Loan $11,331 (218) - This loan originated at $12,000 in September 2011
Canadian Cards (amount in paranthesis is the amount paid since my last update in September)
MBNA MC $15,319 (2973)
RBC Visa $4928 (862)