We did it!

No we’re not debt-free yet. Don’t worry that I’ll be shouting from the rooftops.

Another month closes on our debt snowball journey, and we are

getting closer to our dream of debt-free.

debt snowball progress

We may not be a lot closer, but if we don’t celebrate the small victories, we might lose sight of the prize.

Thanks to our Christmas budget, our December budget was not impacted whatsoever by the holidays.

Now is the perfect time to establish a Christmas budget for this coming year. It will take you about 30 minutes of work and will save you hours of a headache and worry next year.

We had a delightful holiday with family and friends, and we didn’t break the bank. There is no fear of opening our credit card statements this month because we have money from our budget to cover all expenses.

In fact, rather than worrying about our bills we get to enjoy a little extra money when we receive our Ebates cash back check, cash in our Ibotta money and cash in our credit card cash back. In total we will be getting about $200 back through these three avenues of shopping/spending for the last month.

I’m looking forward to sitting down with our budgets from the last year and recapping how 2017 was for us and setting new financial goals for 2018. Yes, I know this makes me a giant nerd, but I’m okay with that.

Besides if you don’t set goals and set them high then what are we working toward?

What would stop us from frivolous spending?

We were able to make a sizable extra payment on our student loans this month, and we are optimistic this momentum will keep up. After nearly ten years of no raise- thank you State of Illinois, I received a 3% raise that will start showing up in my paychecks this month. It’s not much, but after so many years without one, it seems monumental.

Unfortunately, even though Brian works for the same institution, his unit is not yet receiving the raise. Their union is currently in negotiations that have been ongoing for over 18 months. We are hopeful they will settle their contract soon, and if it includes back pay that will help us tremendously. I’m trying not to count my chickens before my eggs hatch, BUT it’s hard not to imagine how much that could move the needle our debt snowball.

Be sure to check out 2018 financial goals later this month, which will include a recap of our 2017 financial goals and whether we met them or not.

So here’s the update for December

Income report from December

Money from Varage Sale      $   22

Mileage check for work     $ 272

 

Total extra income                               $ 294

 

Extra from paychecks     $406

 

Amount extra put towards student loan      $700

 

  

 

Current outstanding student loan debt    $29,020

 

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