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
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