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.