Another month, another debt repayment update.
Before I share my progress with you, I have a confession to make. Some of you may know that I am not a big fan of all those popular TV shows that everyone’s watching (Game of Thrones? I have no idea what the show is about). I don’t even have cable. Four days ago, on my return from Cambridge I signed up for a Netflix trial (my friend’s awesome suggestion). Yeah… that was a mistake! Why? Because these past few days have been extremely unproductive, with me being glued to my laptop screen watching… Breaking Bad!… Seriously, what a show! It’s almost as good as The Sopranos. I’ve watched 4 seasons in four days! I’ve got the last season left to watch and I am planning on doing just that tomorrow. I hope this explains lack of new posts on my blog during this past week. I know it’s not a good enough excuse but it is what it is and I thought I’d come clean. 😉
Anyway, debt repayment… ah yes! December has been another good month in terms of paying down debt and saving some money in my travel fund. Let’s look at the figures –
End of November Figure -£600
End of December Figure £0
End of November Figure -£8,600
End of December Figure -£8,210
End of November Figure -£9,200
End of December Figure -£8,210
I have put a total of £1,093 including interest towards my debt in December. This converts to approximately 1790 USD and 1920 CAD. I have also saved another £520 in my travel fund in December.
My credit card debt (aka Debt #1) has been paid in full *happy dance*. Just in time for the New Year! This calls for a little champagne celebration! 😉
How did I do with my December goals? Let’s have a look –
1) have at least 2 no spend days each week – PASS! I had 2-3 no spend days on average each week.
2) meal plan and take lunch to work every day in December – PASS!
3) read two personal finance books that I borrowed from the library – FAIL! But I have watched 4 seasons of Breaking Bad. Does this make it any better? 😉
4) no more meals out or takeaway deliveries in December – PASS!
5) aim to spend no more than £40-£50 per week (totally doable, I used to spend £25) – PASS! I spent £40-45 a week on average (not including Christmas week where I spent much more but had a separate budget for this).
6) make another £60 by the end of December – PASS! My extra income was roughly £120 in December (selling some items of clothing). I will be honest, I am not trying very hard. My full-time job keeps me pretty busy and I have no desire to work 24/7.
7) pay off at least £350 of outstanding debt (I should be under £9k soon!) – PASS! I have paid off £990 of principal debt in December and I am well under £9k now!
8) save at least £500 in my travel fund – PASS! I have saved £520 in my travel fund in December.
9) start looking for a backpack for my February trip to New York, Argentina, Brazil and Uruguay – FAIL! I will explain soon.
10) think positive thoughts and count my blessings on a daily basis in December (and every month after too) – FAIL! I have been very good the first half of December, but although I was thinking positive I kept forgetting to count my blessings. This makes me sad.
Overall, I am happy with my progress in December. I think it has been a good month! I will be posting end of year review soon and talk a bit more about my financial goals for 2014. In the meantime, I would like to wish all my readers and fellow bloggers a very happy and prosperous New Year in 2014! 😛