Tuesday, February 23, 2010

2009 results and 2010 goals

Anyone who has read my blog knows that I am a supporter of simplifying our lives and steering away from this consumer driven madness we have found ourselves in. Do we really need all this stuff?? There are so many new and improved gadgets out there that if we upgraded every time a new option came available we would find ourselves in a never ending buying spiral, and sadly that is what has happened to many people. We as a society are so worried about keeping up with our neighbors that we don't stop and think what we really want and need.... It has been a year since we started this path to simplicity and while we do not in any way shape or form have it all figured out I thought I would share our success with you all.

In 2009 we were able to pay off:
Credit Cards: $12,000
Part of Student Loan : $6,000
TOTAL DEBT PAID: $18,000!!!

In 2010 we have paid off:
Rest of Student Loan: $2,500

As you can see we are well on our way to financial independence and I couldn't be happier with our results. How did we do it??? Simple we stopped buying STUFF! I am not talking about the basics our children still get clothing when they out grow something, we still buy plenty of food for our family (a little to much if the bathroom scale is any indication!), we go out as a family and enjoy ourselves. When I say stuff I mean the random junk that you don't need to survive or be happy the stuff that ends up in the closet collecting dust a month after you bought it. When we first looked at our spending habits a year ago I was shocked to see that we spent over $500 a month on stuff and I honestly couldn't tell you what we bought! By giving each other a allowance of $100 a month Bry and I are still able to buy the things we feel we need (outside of the necessities) while not breaking the bank. Once we started seeing that debt start to drop dramatically it was a feeling we couldn't explain and we were more than willing to find other ways to cut expenses so that we could watch it fall even faster :) Right now our debt payment is $1,245 a month and we as a family are not feeling the least bit pinched at that amount. We still have plenty to live on and are so much happier learning to live a more simple life :)

Our Goal for 2010 is to pay off our Van and be completely debt free!!! With our current debt repayment plan we should be debt free by February 2011 but of course we are going to work our butts off not to go into another new year with debt. We could pay it off a whole lot sooner but we are planning a trip home in June for my brothers wedding and as well all know people and relationships need to come before the almighty dollar so we will gladly add a few months to our debt repayment in order to pay cash to go home and see my baby brother walk down the aisle :)

2010 Goals:
*Pay off Van loan ($15,000)
*Attend Brothers wedding paying 100% cash ($5,000)

What about you all what are your goals for 2010 and how did you do in 2009?

1 comments on "2009 results and 2010 goals"

Bethanie on March 7, 2010 at 10:54 PM said...

very cute blog!


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