Happy New Year!

Well, it's 2008, the official start of the great debt payoff. Everything before now has been practice and prologue. Now the real work begins.

I've updated the balances for the Bad and Good and plan to update them on the first of every month. Of course, they're never going to be entirely accurate: The first of the month comes in the middle of the credit card billing cycles, so interest hasn't been added yet, and in some cases, payments haven't been credited. But I figure that after a few months, progress will become evident by the changes in the balances.

I have to say, though, that I'm not impressed with my progress over the last couple months. I'm trying to remind myself that the unimpressive savings balance is the result of responsible financial behavior. That is, some of the things I've paid for with the credit card -- namely, the class and the car maintenance -- I've repaid out of savings so that the debt balances don't increase. Frankly, if I were being really responsible, the savings balance would be even lower, since I charged the cowboy boots and should repay that amount with my savings.

And of course, there was Christmas. Since I had to buy gifts, I couldn't pay down the debt or increase the savings.

But now it's January, and so far, it looks like things will start off right. I'm encouraged. The credit card payments are planned for and there's still a reasonable cushion, thanks to the overtime a few weeks ago. The way the payday schedule falls, we get three checks instead of two this month (that always helps, though it usually takes a few months to show). I've got freelance work coming and invoices to mail, so that's money that'll come in. And it's tax season. Yes, yes, I know it's supposed to be better to structure exemptions so that you don't owe or get a big refund, but I really like getting that refund.

So, January is starting on a good financial foot. I'm trusting that this a sign of things to come this year.

Here's to a happy and prosperous 2008.