As has been a tradition for the past few months I put forward a few personal challenges for me this month. As a reminder these were November’s challenges:
- Submit book proposal to publishers. This should be doable because I have finished a rough draft of it. I am just waiting on my writing partner for his feedback–FAIL. However, there was a reason for this. I am waiting for my colleague to get some changes back. I did meet with a couple of publishers and they are interested.
- Submit research to a journal. This just needs to get done. Not sure what is holding me back, but it is time–FAIL. However, I am waiting for this work to have some additional critique before I submit it. This Friday I am workshopping it with a group of scholars. So I have submitted it not just to a journal.
- Try to not eat fast food out during the week. What I mean by fast food I mean anything that involves me not bringing it home. My health has to become a priority and evaluating what I am putting into my body has to be at the top of my list. This will also save me money (although I don’t spend more than $100 per month on this).--FAIL. Although I did reduce it. I have to again make this a priority. My health is important to me.
- Try to get on track to get my personal loan/2nd mortgage below $11,000 by years end. I am not sure how this is going to happen, but toward the end of the year I want to announce that I have paid this down to $11000 instead of the current $11500 it is projected at. I just don’t know where I will come up with an extra $500. SUCCESS–Or at least I believe it will be a success. I have to find about $200 more (and I already have it earmarked). So I might even be able to get this down to $10,500.
- Look seriously into refinancing. I am not sure if I will be able to refinance because I don’t know if we have enough of a loan to home value to justify it. But I would love to lower my interest rate to about 3% or lower. FAIL….SORT OF. I have decided to wait on this a bit. The truth is we don’t have the an 80% LTV for our house. Now I don’t know that for sure, but based upon how property values have gone up and how we are looking at it I am still a few thousand dollars away. It is possible, however, to look into refinancing (if possible) in the early spring.
I would grade my success/failure with this month’s challenges as not bad b/c while I delayed some of them they were for a reason.
December Monthly Challenges
- No eating after 8pm. My friend Brian has started to take care of his health and he was telling me a couple of his rules and I love this one. So no food after 8pm.
- Finish a letter to the publisher for our book. Every time we send out a book proposal we need to tailor a letter to a publisher. My goal is to tailor a letter to one particular publisher and submit the book proposal to them by the end of the month.
- Get my personal loan/2nd mortgage to under $11,000. While I still haven’t done this I think this is pretty doable. I might even be able to get it down further, which would feed into another goal of mine to have this below $10,000 by the end of January.
- Finish Christmas Shopping by the 15th. I am pretty much done with most of my shopping, but it is those last minute items and figuring stuff out for my extended family that I am not sure of. I might just do a couple of nice gift cards this year.
- Make a final decision on an important financial topic to me. I know that sounds cryptic, but I have a blog post coming up where I need your help in helping figure out what I should do about an important aspect of my personal finance life. Stay tuned.