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September Financial Snapshot

September 3rd, 2013 at 05:53 am

Mortgage $55,921
Truck Loan $8,555
Lawn Mower $103
CC1 $0
CC2 $0

Total Debt - $64,579

Retirement Fund $127,771
DD1 Savings $5,442
DD2 Savings $339
DS1 Savings $1,000
DS2 Savings $1000
Emergency Fund $800

Total Savings - $136,292

Debt reduced by $6,392
Savings increased by $3,657

About $1,700 of that increase in savings is because DD1 received her check for selling hogs at the fair. It's her money, but is earmarked for college savings, so I'll include it as a family asset.

I intended to pay the lawn mower loan in full last month. I went into the website to pay it off, and it's not easy to navigate. I entered the wrong amount to pay. When I went back in to see if the payment had posted, I saw that there was still a balance. I was unable to set the payment date for any sooner than 9 days before it's due. So, it will be paid in full on the 18th of this month.

I have another milestone to report. Our total family debt is now less than our annual household income! That sounds pretty good to me. Also, our total family savings is twice as much as our debt. Also good!

One last thing on the EF. We intend to beef that up. Right now the money sits in checking, which I've not listed here. Basically, we keep our EF in a bank in DW's home town. That way it's inconvenient for us to access. It's also inconvenient for us to add money. Our goal will be to get that money transferred over to the savings account before the end of this month.

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