2009 Wrap Up; Looking Forward to 2010

This past year has been full of financial progress for us. First, as a couple, my boyfriend and I finally decided to combine our incomes and create a combined budget. Second, after many years of thinking about it, I finally opened a Roth IRA. Third, after 2 years of graduate school, I have started a full time position on a salary with benefits including a 401K. And fourth, as a couple, my boyfriend and I have set combined financial goals that we are achieving this year and plan to achieve next year.
Speaking strictly numbers though, here's how we did in 2009:

    - By the end of this year my boyfriend and I will each have 6 months worth of expenses in savings
    - I paid around $2,000 in interest on my student loans while they have been on deferment
    - We reduced our monthly grocery bill in half (translate into saving at least $200 per month)
    - We came to our senses and moved to a more affordable side of town and reduced our rent by $800 a month
    - We have both been investing 20% of our income 

As you can see our accomplishments this year included being smart with our money, paying down debt and increasing our savings and investments. Now that we have saved 6 months worth of expenses in case of an emergency, we are ready to focus on attacking our debt. This debt consists of a timeshare my boyfriend purchased a few years ago and my student loans.
So these are our financial goals for 2010:

    - Pay off the timeshare (roughly $6,000)
    - Pay off 90% of my student loans (you can tell that's a lot by looking at how much I've paid in interest this year)
    - Continue investing 20% of our income in both 401Ks and Roth IRAs
    - Keep all of our spending down to 55% of our income




Photo credit: jin.thai, flickr; a2zindianews, flickr