Sunday, January 4, 2009

End of Year 2008, Goal Setting 2009 Report

Well, it’s the beginning of 2009, so, to commemorate that, I’ve decided to set down exactly what we accomplished in 2008.

During the course of the year, the credit cards were our biggest focus.  We eliminated all the credit cards, with only one exception.  Here are our numbers:

Credit Card Debt:  $2,281.00
Truck Loan:  $8,217.62
Student Loan:  $13,953.26
Car Loan:  $15,299.68

Our total debt, in two years, has dropped from $77,962 down to $39,752.  That means that we’ve made just over $14,000 worth of progress against our debt in 2 years, so just a little over $1,000 per month.

Here are our goals for 2009:

1.  Pay off the final credit card
2.  Build an emergency fund of $10,000
3.  Move
4.  Have a baby
5.  Get a will in place
6.  Get term-life insurance in place

Right now, those are our objectives, although, not necessarily in that order.  There is also the possibility of consolidating the remaining loans into a single loan at a better interest rate/payment (although, the Student Loan is the only one left with an interest rate over 6.0%)

It is definitely going to be an interesting year, with the combination of the economy and the personal life changes…


  1. congratulations! That's amazing. Good luck with all your goals

  2. I think your world is going to change more than you know. My wife and I aren’t ready for that yet, but we'll get there too. Good luck with the 10k EF and the family planning.