December 2014 Recap

Happy New Year! Here we are in 2015!

December was a good month! It had a little bit of a lot of things.

First things first! December marks my 1 year anniversary of debt repayment. I almost forgot, but I’m glad I didn’t. I took some time to reflect on how far I’ve come over the last year. Spoiler Alert: It’s a long way.

Second! I established my first side hustle! It’s glorious! When I signed on for the gig, it was my understanding that it would be an exchange for services. When it was over, I was given the option to take the exchange or cash. What a pleasant surprise! I took the cash! My loans thank you, young side hustle. Now, I must nurture you.

Thirdly, I excelled in cookie eating this month. Alicia at Financial Diffraction sent me an amazing recipe for chewy ginger cookies. I ate at least my 6 month cookie allowance but it was worth it. So delicious! If your life is in need of chewy ginger cookies, I have the solution!

On top cookie eating, I also spent a large chunk of time sitting on my butt. The Christmas Laziness was strong with this one. 2015 will involve a lot of butt kicking. These extensive sits cannot turn into a habit.

Lastly and by far the most fun, Hubs and I went on a mini vacation mid-month. 3 nights at a casino! . . . as non-gamblers. We got a little crazy one night and played Bingo. Hubs won! His winnings covered most of our costs for the weekend.

Thanks to a dear, dear friend who works at the resort, our room and meals were complimentary. We thought our alcohol was covered too, but alas, it was not. We drank way too much over the 4 days, but thankfully the bill was only $53. Does that make us cheap dates? Yes. Overall, the whole extended weekend cost us around $100.

Now… to the debt!

This is my first month tracking my Car Loan. I’m only paying the minimum payment for the first year, so its really not exciting. It’s lacking so much excitement, I’m considering leaving it out and just tracking it on the side. We’ll see.

Debt Progress

  • Car Loan November: $13,575
  • Car Loan December $13,302
  • End of November Student Loan Debt: $18,596
  • End of December Student Loan Debt: $15,908

That’s $2,688 of my student loan paid off this month and $29,442 paid off in the last year.  What a year.

For comparison’s sake, I made a little chart showing my debt progress over the last year and where I would be if I’d only made the minimum payment.

2014 Student Loan Progress

Here I am banging on $15k’s door and Minimum Payment Kate hasn’t even hit $40k yet. Oh, Minimum Payment Kate. Why do you want to pay so much in interest? Will someone talk to her!?

How did you finish out the year? 

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9 comments

  1. Can I steal your friend, so that I can have a super cheap weekend getaway? $53 in drinks over a few days is also absolutely amazing.
    Way to show up Minimum Payment Kate. You’ll be paid off in no time, now. C’mon 2015!

    1. He’s not currently accepting new friend applications. Sorry! 😛 The $53 totally surprised me by how cheap it was. Some people hit $50 at the bar in one night!
      I’m excited to keep showing up MPK. Someone needs to do it! The greatest feelings are to come when the bill is paid in full and MPK still has 8 years left!

  2. It is so great to see you back blogging again and still kicking debt’s butt. When I finished off my student loans I calculated how much interest I would have spent by paying the minimum (hint: a lot.) The extra thousands of $$ are one of the few financial gifts I’ve ever given to Future Me.

    1. Always kicking debt’s butt! The saved interest is a huge motivator for me. MinPaymentKate will pay ~ $16,000 in interest. I may get through this with only paying $3-4k. The difference is almost my total car loan. I’m saving a car!

      I’m hoping to blog more now that Christmas is over. 😀

  3. Nicely done – that’s a huge chunk of debt paid off! Also, your cookie picture makes me think I need to get baking… but I can’t make those because they’d take up all my freezer space 🙂

    1. The cookies don’t go in the freezer. They go in the belly. But then your pants don’t fit. And then you have to buy new pants. Does your budget have room for a pair of pants? Probably best not to make the cookies.

  4. Kate,

    You’ve had an awesome december! Glad to hear that.

    For fear of becoming a broken record, congrats once again for paying off such a huge chunk of your debt! Only about six more months to go…

    All the best for 2015,
    NMW

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