I wanted to share my small financial successes, but somehow Facebook etc don't seem like the right forums since many of my friends may not be able to accomplish these kinds of things in a bad economy etc. Luckily I have a job I can't get fired from (I'm in a medical residency program).
I am very proud of myself for continuing to push towards my goals this year.
- I paid $5,700 towards my student loans. Only $173,000 to go!
Remind your children that going to med school is no easy haul.
- I saved $13,000 since May in an emergency fund (with a goal of $15,000 that I calculated as 6 months expenses)
- I maxed out my IRA and the value doubled from about $10,000 when the year started to $20,000 now. It's so cool to see big numbers in there when I remember starting it in college with just a few bucks.
Challenges in 2009:
- In September, all my electronics were stolen including my laptop, ipod, cell phone, etc. I still have not completely recovered from this loss. Don't forget to back up your files in 2010!
- I run a small nonprofit organization that went into a funding crisis due to the economy and lack of contributions. I therefore redirected some of the money I meant to put towards my loans and emergency fund into donations towards the nonprofit. Since the crisis was first noted we've raised nearly $20,000 and are well on our way to recovery. So I look forward to getting to sit back and watch our programs make a difference in people's lives' in 2010 and not having to panic about money constantly.
Cheers everyone on your successes and meeting your challenges! Happy New Year's Eve!!