One of my main money goals for 2021 is to actually max out my 401K for the first time. My second goal is to max both my IRAs ( I still have $1,100 to contribute to my 2020 Roth as of this post).
For a quick overview of my full financial goals that I hope to hit before 30, check out this short video linked below.
PROGRESS THUS FAR
I paid the exact dollar needed towards my car loan this month: $404.65. This is pretty much going to be the case for the foreseeable future.
CURRENT DEBT TOTALS
- Student Loans = ZERO
- Car Loan = $9,308.04
Total Debt As Of February 2021: $9,308.04
THOUGHTS ON DEBT PAYOFF PROGRESS
First, I actually logged into my Honda account and the required payment I need to make is $225. I think this is because I am “ahead of schedule” for paying back my loan.
Technically, the term of my loan is for five years at 1.9%. I bought my brand new Honda in January of 2018. That means I technically have until January 2023 to pay it back.
BUT, I won’t be waiting that long. I do not like owing people. Sending Honda $404.65 a month makes me agitated. I will never ever ever purchase a brand new car again.
CREATE A SUCCESSFUL FINANCIAL FUTURE
My goal is to actually have this car paid off within the next 15 months. I have a couple of side hustles that I am involved in that I know will help me reach this goal.
- 3 YEARS OF FIRE: WHAT THE FIRE MOVEMENT HAS TAUGHT ME
- HOW TO BEST SAVE FOR AN EMERGENCY
- THE MUST TRY BUDGET METHOD FOR BEGINNERS
I would love to be debt free before my 30th Birthday (April 2022), but I also have a huge investing goal that I am aiming to hit by the end of the year. All additional money will be sent towards this goal. Once I hit that goal, then additional funds will be sent towards my car loan.
What are you currently working to pay off? Let us know down below in the comments.