Between my bike challenge for April and May and my debt repayment strategy plan, I’ve been keeping myself in checkĀ  with accomplishing my goals through baby steps. My bike challenge is much more rewarding; at the end of the week I can successfully say that I’ve accomplished my 24 miles for the week, if not more. It’s great exercise, so I don’t feel guilty if I scarf down a bowl of mint chocolate chip ice cream, and I’m saving wear and tear on my car and gas. Basically I’m saving money by committing to this challenge.

My debt repayment plan is on track as well, I paid $400 in April towards my crummy line of credit (my original goal was to pay $525, so I’m a little short). In contrast to my bike challenge, it’s not nearly as much fun! As much as I like seeing that total debt shrink, I also notice my bank account going in the same direction. Yet, I must keep persevering so that I can pay it off, then save that monthly payment for my down payment. At that point, I will also be in a good position to open an IRA and begin seriously contributing.

Summary of my goals and challenges for April (to keep me honest!):

  • Bike Challenge: 60 miles in 16 days. That’s 12 miles more than what I had committed to. Whoo hoo!
  • Debt Repayment Plan: reduced line of credit to $7,930. I would have liked to have paid off another $125 so I’m a little behind on this goal.
Crummy Loan Count Down
Crummy Loan Count Down
April / May Bike Challenge
April / May Bike Challenge

Late summer goals that I will be pursuing by August:

  • Open IRA (for a work at home mom and dads spousal IRA)
  • Increase my savings account by a significant amount (I really can’t compute an actual number yet since I’m moving funds around and my income fluctuates greatly!)

I will continue end of the month status reports to help me stick to my goals. Hopefully, my current goals will help me meet my late summer goals!

What goals have you made this year? Are you meeting them? What about the goals you are behind on, do you feel guilty?

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