As I try to work out my goals for 2009, I want to evaluate my financial success and failures for 2008.
At the beginning of 2008, I had $11,700 of non-mortgage debt, and a $162,000 mortgage. During this year, I have paid $5500 to debt, sold my house and purchased a smaller one. My current status is:
Credit card debt:
Dec. 2008 $6200
Emergency fund:
Dec. 2008 $850
Mortgage:
Dec. 2008 $117, 000 (I need to look up the exact figure)
I am pleased with my progress in 2008. I have not been "gazelle" intense in paying off debt because another of my goals is to enjoy life now with my children and friends. Some of my splurges were: buying a share of a 20-year old boat, going to Ocean City with friends from college, going to Charlotte for a cross-country race.
I want to continue to be able to have dinner out with friends and to perhaps plan a trip to NYC in the summer to visit DD2. I want to budget for these important expenses as I plan for 2009. Realistic planning is a challenge for me. I think I need more accountability in my budget. I really want to find a system that works for me.
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Redroyalbet
6 months ago
3 comments:
Hi there-you've made fantastic progress reducing your debt, very well done! Hope you can evaluate your goals for 2009 too-it is good to have a balance, we all need life experiences to look forward to as well.
that is amazing progress! 08 was good to you :)
I hope that 09 is just as good!
I agree with you - there has to be a balance of life & Debt Payoff... if you treat yourself once in a while, you are less likely to fall off the wagon & go way overboard.
Good Luck!
Thanks for the good wishes! Balance is what I'm striving for.
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