I hit most of my goals for 2008. I made some good financial progress this year and feel like my debt is in a less scary and manageable place.
So, my 2008 goals were:
Get My Networth to -$28000 - DONE I'll be updating my Networth this week but I can tell you that it is below -$28,000
Get my Prosper Loan down to less than $2000 - DONE It is at $1985!
Pay off my Banana Republic Card - DONE
Pay off my American Express -DONE
Get Emergency Fund to $1000 - NOT DONE Currently it stands at $455.
I am happy that I accomplished so many of these goals. I really tried for that last one, but I just couldn't make it happen. I'm okay with not hitting that goal, because I know that I just have to work a little harder on it for next year.
Debt Snowball Progress
I have made tremendous progress on My Debt Snowball over the past few months. I paid off my American Express card right before Christmas, which was Step #4 in my Snowball.
Here is where we are:
1. Banana Republic Card - PAID
2. Medical Bills - PAID
3. Car - PAID
4. American Express - PAID
5. Prosper - Balance $1985.93 - Minimum $119.01
6. Bank of America - Balance $4701.29 - Minimum $102
7. Student Loan - Balance $23821 - No Minimum
Once my car was paid off, I was finally in a position where I was actually making more money than my bills, so I eased off and quit my extra jobs. I'm still working on making a little more money on the side, and will need to amp that up in the New Year since in February a line of passive income that has been helping me pay down my debt will come to an end.
I started this blog with the hopes of tracking both my personal progress, writing about finances, and keeping up with my writing skills. I'm hoping in the New Year that I will be able to get back to regular posting and start growing my readers and subscribers again. I should have a Networth update and my final list of goals for 2009 up in the next couple of days. In the meantime, I wish everyone an enjoyable New Years!