Wednesday, December 17, 2008

It's nearly the end of the year so I am starting to think about and plan my goals for 2009. One of those goals is to really get our overall finances and budget solidified. I am taking inventory of what has been working for us as a family and what we need to improve.

I am so happy to have discovered the online community that is so generous in sharing great deals, tips and shopping scenarios, which really can help anyone get a better deal on all purchases.

One of my goals is to be more like my husband in the way that he saves. He makes more money than I do, actual salary-wise, but because he sends such a big portion to savings and his company's stock plan, we end up taking home the same amount each month. With both my son and our new baby in full-time child care, my share of expenses has increased, so I'm hoping that with all the savings I am realizing by buying food and household goods on sale and with coupons, that I can also increase my savings.

A catch-22 situation arises however when I talk about increasing savings, I also need to decrease my debt. Said debt being my Student Loan. Yes, I have not been in school for nearly 9 years and I still have a crazy amount of student loan debt. I worked my way through college and did not take more than one $5000 loan, which actually helped me finish college earlier than I would have if I had not taken the loan. But law school was so unbelievable expensive, I could not avoid the loans. When I first graduated, I struggled to keep track of each one so I consolidated. Financially naive at that point in my life, I consolidated at the highest possible interest rate that they can charge - 8.25%. Now I make a little more than the minimum payment each month but it just doesn't seem to make a dent.

Somehow, in 2009, I want to be so fiscally conservative that I can pay it down to at least half of what it currently is - a lofty goal perhaps but without a goal, there is nothing to be working toward.

Do you have a goal, resolution or vision for the coming year? I'd love to hear what others are working toward, financially or personally!

1 comment:

SavingSomeGreen said...

I have been thinking about that too...with no solution yet. I don't want to set a goal that I may not reach---but I do need to make it a stretch. You know what I mean?

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Seattle Area, Washington - the state
I am an attorney, working mom of 3, who loves a bargain, a great deal and freebies. Who doesn't want the best, for less? Come here to see my triumphs and budget tribulations, good deals and my take on what the good life can mean...