I can't believe how fast 2009 has gone by. It seems like it was just yesterday that we were just coming into 2009. I made 4 goals that I wanted to accomplish in 2009. Now that 2009, is just weeks from being over, it's time to review how close I came to meeting my goals. Right now, it looks pretty bad since I only completed 1 of the 4 goals.
My 2009 goals were to:
SGM Savings Challenge. I had a goal of saving $50,000 over the next 24 months. Back in December of 2008, I was at about $28,000 and set a goal of saving $14,000 in 2009 and $14,000 by the end of 2010. I'm happy to say that I was able to save a little over $14,000. Here is the last savings update.
Student Loan. My goal was to pay down my student loan balance from over $23k down to $18k. I didn't meet this goal. Unfortunately, the balance did not change very much. I paid down a little bit of the principal but the majority of the payments went towards interest. I think the main reason for this was that my extra cash was going towards my Savings Challenge. The only good thing about paying interest on this loan is that I can write it off when I file my taxes.
Increase Alternative Income. My goal was to bring in an additional $7500 in alternative income on top of my regular salary and rental income. The additional income for this goal would come from this blog, Ebay sales and online survey sites. Right now, it looks like I was able to bring in an additional $4300. While it is not near the amount I'd hope for, it's still nothing to complain about. Any extra money you can bring in on top of your regular income is great!
Purchase an Additional Rental Property. There are so many properties in the Atlanta area that can be obtained for less than $50k due to the collapse in the housing market. I wanted to use this to my advantage and pick up an additional rental property. I put in offers on 2 properties and was outbid by investors with deeper pockets and a lot more resources than I have. I've decided to put this goal on the back burner for awhile. I don't think the housing market will rebound that much in the next year or two so the opportunities will still be there.
How did you do on your 2009 Financial Goals?