January 2017 Budget and Debt Results
It already seems like 2017 is going by quickly. We’re into February already and I’m not sure how it happened. I feel like my schedule has been overbooked with work, household chores, family stuff, friends, and preparing for the dreaded tax season. Ugh! But, that’s life I guess.
Here’s how I did in January.
12/31/2016 – $136,335.66 all debt
$25,376.94 without mortgage
1/31/2017 – $135,270.12 all debt
$24,538.23 without mortgage
Difference – -$1,065.54 all debt
-$838.71 without mortgage
12/31/2016 – $1,711.89
1/31/2017 – $1,747.59
Difference – $35.70 Increase
Finally my expenses were lower again! I spent almost $1,000 more in December and November than I did in January, so it’s nice to have the total spending back down around $3,000 again. I did pay off a little less debt in January than I did in December, but I also spent a lot less money in the “cash/other spending” area too.
Some of my spending in that area this month included about $120 for car maintenance and a small repair. I also splurged and bought myself a purse off of ThredUp. I’d been watching for a purple one for about a year and I finally found one on there that I liked and it was a decent price. Plus, I also had some store credit too, thanks to some of you using my affiliate link. 😉
Now that I’ve gotten a nice, high quality, purple purse, I don’t have any plans to get any more high dollar clothes or accessories this year. In fact, I’ve been debating about writing a post about how I think I’m FINALLY ready for a clothes shopping ban. The only real exceptions would be a new pair of tennis shoes for working out and maybe some new workout pants if I keep losing weight.
I put my regular $100 into my travel savings fund last month. But, I didn’t reach my goal for my health savings in January. I need to save about $1,000/month for my surgery later this year to pay for it in cash. We’ll see if I can get it done. If not, I could push it off until early next year (2018) as it’s not an emergency surgery by any means, but it does need to be done at some point.
I didn’t get the credit card paid off in January like I talked about last month. But, I did get it paid off already in February. Now all the debt I have left is at 6.55% or lower. Until my balance transfer expires in a few months anyway. When the transfer expires, I’ll be shopping around for another one to keep the 0% interest rate working in my favor.
I’m finally starting to feel like I could actually achieve debt freedom in the near-ish future with the exception of my mortgage. It’s also really great to not be sending out 10 small debt payments each month to different creditors. Instead, I can send larger payments to fewer places. I think that really makes a difference and the “snowball” is finally rolling downhill with some speed.
How was your January? Did you pay off some debt or increase your savings? Let’s celebrate those wins!
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