Wednesday, January 05, 2011

My 2010 Goal Recap…

Goals for 2010:

  • Use only cash and debit cards.
    I did well with this goal until about September of 2010 when I decided that I was going to begin using my credit card for transportation expenses. It was all downhill from there once I put the card back into my wallet. I started charging other items and because I was determined not to incur additional credit card debt, I began depleting my savings account every month to pay off the balance in full. By the end of 2010, I went from $12,000 in savings to just $2,000.

  • Live below my means and within my budget.
    I only made met this goal 2 out of 12 months in 2010. Coincidentally, those were also the months I picked up extra income from my part-time retail position.

  • No more debt and no credit card use.
    My debt in 2010 decreased from $377,310 (including my mortgage) to $369,859. Total decrease was $7,451.
    Mortgage decreased $1,381.
    Credit Card Debt decreased $4,060.
    Student Loan Debt decreased $2,010.

  • Continue networking to land law position.
    I did a lot of networking in 2010 including traveling to Milwaukee for a charity golf outing which resulted in an interview. I am on the radar at two law firms in Chicago but the real networking that I am doing now is within the Bank.

  • Work to find avenues to increase my income.
    I took on a part-time retail position from June to September.

  • Use savings and not credit for emergencies.
    I depleted my eFund for car repairs in 2010. Overall, for the first time since I can remember, my credit card debt actually decreased instead of increased for the year.


Anonymous said...

Way to go. May not have been what you hoped for the the progress is great.

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