So my first and only blog ever I wrote back in January and then never wrote again. I figured no one would check out. Thanks to those who stopped & checked out and made comments.

Guess I'll update you on my progress!!! Since then my husband and I have both had raises! YAY- our combined income is now $128K. We have done the following from our original plan:

Credit Card- paid off

Furniture- paid off

(1) car loan $4880 balance- payment is $313/month- should be paid off in a 1 year 3 months

Personal Line Credit- $3900 balance

Money Market Account- $3500 (dipped into for car repairs and I admit some furniture) I'm a total furniture junkie! We had socked away $6100

So the main thing we need to continue to do is pay down the personal line of credit.

We also have paid cash for a trip to Disney World coming up next month. Yes, I know we should pay down our debt instead but we all need vacation and as long as we don't finance it I think it's well deserved!

So welcome to 2007- I'm writing my first blog. I don't know what happened to me but at the age of 26, okay almost 27 I felt this need to become "finanically free". So I'm going to let it all out- maybe people will visit my blog and offer helpful suggestions along the way.

My husband and I are happily married with a 2 year old daughter. I am the financial responsible one, he is the fun one.

Our combined income is $119,000.00/annual and we natives of the southeast. Our debt......

Credit Card: $4200
Credit Line: $4996
Furniture: $6800
Car Loan Balance: $7300

I have developed a plan....we are receiving a windfall of $4454.00 this month along with my annual bonus check of $10,000 (which will most likely be $6000 after taxes). We will apply that money toward our credit card & furniture debt. I will have a balance of $546 on the furniture line but I plan to pay that off in the month of Feb.

We have gone through and created a spreadsheet and figured out we can sock $800/month at debt and save $377 in our ING Direct (Orange Account which has 4.5%) a month. I still feel like we should maintain a decent savings so we don't have to rely on our credit card once it's paid off.

Next we will apply $800/month on the credit line and hopefully get tax refund of about $3000.00

So in my first blog I'm being brutally honest on finances so you all can see where I'm at.

We have made great choices in the past. Our first property we bought sold in July and we made $110,600 profit. We used that money to pay off my husbands car and applied the rest to the current home we have. I am re-financing my home to get an interest rate that is 1% less than our original loan freeing up another $200/month.

Hope this makes sense- stick around with this and hopefully I'll get better at this blogging thing.

Would like to mention I LOVE the following blogs/sites:

www.wereindebt.com

www.cnn.com/money

www.msn.com/money