2009 Goal #1
Pay down credit card debt by December 31
My balances are artificially high right now. I got hit with some late construction charges in June, so I didn’t have a chance to pay it down with my latest bonus. I should still be on track at the end of August.
2009 Goal #2
Fill the Save-O-Meter to $4K
I’m marking this a mega fail even though I bought a $1000.00 CD in June. I have to pay interest out to my renter if she stays past 13 months, so I put her security deposit aside in a CD to make sure the money would always be there. CD’s work best for me, so I think when I’m done paying off the credit card debts, I’ll have to create a CD ladder.
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{ 2 comments… read them below or add one }
That is an interesting idea dealing with your renter. I’ve got one rental property but I’ve never thought about taking the deposit and basically investing for the renter as an incentive if they stay….is that what you do? Maybe you’ve already posted something about it, but this is the first time I’ve seen your blog so I’d love to hear more.
Hi Boston – No, legally in the state of Virginia under the VRLTA, I have to return interest on a security deposit held more than 13 months. It’s not incentive for anything really because in 2009 the interest rate is set for 0%. I am doing it so that I always have it if they move out.