January Savings/Debt Repayment Percentage

by Andy Hough on February 6, 2008

My savings/debt repayment percentage for January was only 3.7%.  That is quite a drop from the previous months percentage of 55%.  The drop was because I didn’t make any debt payment and made only the minimum $50 contribution to my IRA.  Until I receive my student loan money I’m not going to make any debt payments or extra contributions to my IRA.  This is to make sure I have plenty of money on hand for living expenses and any unexpected expenses.  Once I have my student loan money I plan on paying down my private student loan and maxing out my 2007 IRA contribution.

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