I reflected on the past 12 months and saw a ton of progress when it came to my personal finance life. I went from a credit card degenerate to a credit card debt free disciple. I have built up a tiny little savings account at the same too and am quite proud of that accomplishment.
My resolution for the next year is to hack out a enormous chunk of my private student loan debt. Currently, it is sitting at about $83,000 (Give or take a few quarters) and I have been paying down small amounts each month. But this years goal is to make a payment of at least $1,400 every month. That's more than half of every one of my paychecks! Notice that I use the words "At least" because I plan on throwing any large sums I receive this year at the principle too. This includes my tax return, any bonuses, and maybe even this shoebox money that I am accumulating! Hopefully, this time next year, I will be looking at a principle on my loan in the low $60,000 range and that would make me very happy.
So that is my proclamation for the year of 2009! Let's hear yours! While you are commenting on your goal for 2009, check out some of my favorite New Year's Resolution reads from my homies! Be easy people!
2009 New Year's Resolution Link Guide
- Mr. Tough Money Love shares what resolutions NOT to make in 2009
- Trent at the Simple Dollar had his own series of New Year's Resolution Workshops with one focusing on Spending Less Money
- Studenomics preaches to make goals for 2009, NOT resolutions
- Kristy at Master Your Card writes about the top F ups of 2008 so don't follow in the footsteps of anyone on this list in 2009
- Moolanomy offers up 7 tips to stick to your New Year's Resolution
- Lazy Man and Money shares his personal blogging goals for 2009
Make 2009 the year where you make your mark for your actions and not your words. Good luck.
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12 comments:
Best of luck getting that student loan debt down! I know its a killer!!! You will do awesome =)
Happy New Year Dr!! Thank you for your supportive comments this year. I wish you and your lady the best for 2009!
Great job on your student loan goal. We should trade notes on paying down student loans! I found that doing monthly updates on my blog helped.
whoot. good luck!!
@PJ Thanks and I love the black background on ur site!
@Dolly Thank you for all your wise comments all year!
@Green Panda Def will exchange some notes and gonna get on the monthly loan updates! Thnx!
@paradgimshift It was great getting to know u in 2008, thanks for ur words thisyear and merry new year!
That sounds like a good New Year's Resolution! Good luck with it and thanks for dropping by my blog and commenting.
Happy New Year and all the best for 2009!
Happy New Year Doctor S (here from Netchick's site)
Congrats on ridding yourself of the credit cards. I too am slowly hacking away at my debt (over $50K) but it's a slow process.
Working down that student loan debt is a great goal for 2009 and by hacking away at the balance with huge payments, it'll shrink pretty quick.
-1MansMoney
Good luck on your goal! I'd worry that it's a lofty goal, considering its more than half of your salary. If you can do it, all the more power to you.
Out of curiosity, what type of loans are they? I'm guessing they are private loans.
As for my goal, its to pay off $10,200 of consumer debt. My student loans are still partially deductable.
To help my goal, I plan on using all of my tax returns...this should be a considerable amount as I got married and bought a house this year. The mortgage insurance is even fully deductable! Who says there aren't advantages to a down economy.
@Nikki-Ann Thanks for stopping by!
@Roger Netchick does great working getting people to meet each other eh?
@1MansMoney I need you to define quick! Thanks for the encouragement!
@David My loan is a private student consolidation totaling apprmx 80k. Its going to take some time!
You got it all down my good friend! Just think, by this time next year you'll be $30k richer (in a sense), financially smarter, a blogger legend! it doesn't get better than that boss.
2009 = The year of the Dr.
Thanks J Money, you always have the witty motivational statements that keep people going! I smell a career as a virtual lifecoach? Maybe?
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