December 2013 Debt Repayment Update

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 –

Debt #1
End of November Figure -£600
End of December Figure £0

Debt #2
End of November Figure -£8,600
End of December Figure -£8,210

Debt Total
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! 😛

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26 Comments

  1. Nice job! That is a great chunk of debt repayment.

    Also, beware the addiction of binge-watching television shows… It can become a vortex, and at some point you don’t know how to regularly consume tv shows on a weekly basis.
    Alicia recently posted…Holiday Re-cap.My Profile

  2. Nicely done! Great job on paying off debt AND keeping your spending in check. Not easy to do this time of year!

    I can totally relate to your Netflix story. It’s so easy to get sucked in and obsessed with all these great shows. Breaking Bad is one I wanted to catch up on.. but I’m almost afraid to because I need to stay productive!

    Hope you have an awesome New Year, Eva 🙂

  3. Yay, congrats on Debt #1 being fully gone, and the super impressive debt repayment!! I’ve heard all sorts of addicting things about Breaking Bad, so I’m glad to hear you’re enjoying it (and what better way to watch it than free)! Happy 2014, Eva, so excited for all your travels and whatever else happens in 2014! 🙂
    anna recently posted…Being Kinder Than Necessary (and Happy New Year!)My Profile

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