I did a quick tally before leaving work a few days ago to see how I fared for Jan '10 income. As I mentioned before, I get paid a month later so the days I worked in Dec will constitute income for 2010. It is a great feeling knowing I've already done 1 month of next year's work already.
Unless something goes awry, I ought to be coming up slightly ahead of my projected income for January. A great way to start the year and a great thought to end 2009 with. I'll know the exact amount when I get back.
As for 2010 projections, I haven't changed anything from 2009. I did do that one exercise recently to see just how low my income can go before I have to sacrifice goals and it was tempting to lower it.
I decided to lower only when actual income has gone down or up for good ie. business reaching a new level. I didn't feel that lowering projections was good for me mentally. It would feel as if I've already accepted it. There was no reason to.
Some people separate the concept of debt into "good" vs. "bad". It is easy to understand why though I don't tend to do that. To me, debt is debt. It is money I owe.
Sure, some debt represents things that will make me money and some will not. Just like some educational degrees are for self interest and some graduate with tools that will enable a lucrative career. So not all education is "good" debt.
A mortgage for a property that I do intend to sell wouldn't seem like good debt to me as any capital gains may lay unrealized until I die. Whereas a mortgage for a rental property that benefits me while I'm alive appears better.
For me I just lump everything in one pile for ease of remembering. I prefer bottom line numbers anyway.
If someone has 10 credit cards with different balances, a few line of credits, a mortgage, a car loan etc. etc. I'd just add it all up and deal with it from there. A whole number makes a bigger impact and doesn't allow the mind to minimize what is really owed.