February 2014 Debt Repayment Update

Is it March already? Hard to believe, right? It’s amazing how fast time flies by. When I left the office just after 6 pm today, it was still light outside. I caught myself wondering: “Wow, when did it become spring?”. It took me a few seconds to realise that winter is officially over and the days are now becoming longer.

I got back from Venice on Sunday night and was back in the office at 9am on Monday morning. My birthday celebrations are now officially over. I am a little sad as I had so much fun celebrating the big 30! I am going to write a separate post about my trip to Venice, so do check back soon if you want to see the photos from the trip. I will just say one thing: it was awesome!!! 😛

In February, I spent in the region of £1,000 on my trips (I will reveal the exact number soon in my monthly spending report). This means that my debt repayment was not very impressive but I still made an overpayment. Personal loan is the only debt I have got left to pay off. Let’s see February’s numbers –

Personal Loan
End of January Figure -£7,795
End of February Figure -£7,370

In February, I put a total of £525.00 towards my debt, including interest. This converts to approximately 875 USD and 975 CAD. Looking at the bigger picture, I paid off 47% of my principal debt in eight months (I am not counting the first two months as there was barely any progress due to other financial commitments). I am nearly halfway through this challenge! Hopefully, another eight months and I will be debt free! 😉

Now that my birthday celebrations are over, I can once again concentrate on my debt repayment 100%! My budget is quite tight in March. I have a £125 entertainment budget as I have a friend from Moscow visiting for 4 days at the end of the month. We are planning a day trip to Windsor and a few meals out. I have another £100 set aside for groceries and £25 for personal care items. So, as you can see, I only have £250 to play with in March. This should be fun! 😉

Truth be told, I am looking forward to spending much less in the coming months! It was nice to be able to splurge a little on birthday celebrations, but I am now ready to attack my debt with full force! It’s time to get rid of it once and for all!

How did you do with your debt repayment/saving goals? I hope you all had a great February and I wish you all an even better March! 😛

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15 Comments

    1. Well, as much I’d like to think that £1k is not much money to spend on two short trips, it’s actually quite a bit (Venice Carnival is an expensive experience). You can travel around Europe really cheap and £1k can last you a month or so! It’s a bit different when you live in the US and flying abroad costs a fortune. I am okay with spending this money on travel though and I don’t regret a thing 😉 If I could I would do it all over again! 😛
      Eva @ Girl Counting Pennies recently posted…February 2014 Debt Repayment UpdateMy Profile

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