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January 2017 Budget and Debt Results

February 6, 2017

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Wow! This blogger paid off over $1,000 of debt in one month and increased her savings! I can't believe how she did it.The beginning of a new month means it’s time to take a look back at my spending and debt payoff from last month.

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.

Debt Totals:

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


CategoryMonthly Total
City Bill$67.04
Gas Bill$22.14
Auto Insurance$98.59
Personal Trainer$170.00
Cash/Other Spending$828.69
Health Savings$350.00
Travel Savings$100.00


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!

Wow! This blogger paid off over $1,000 of debt in one month and increased her savings! I can't believe how she did it.

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7 responses to “January 2017 Budget and Debt Results

  1. That’s so great that you got that card paid off! Zero percent transfers are where it’s at–hope you’re able to find a good one! For me, the small amounts added up quickly and kept the money from wandering around my bank account and turning into “spending,” but I can def see the big psychological win that comes with big payments!
    I’m getting ready to send in some clothes to ThredUp. I don’t shop all that often, but it’s been quite a while since I’ve done a purge so you wouldn’t know it to look at my closet.

    1. I guess I should have worded that part a little bit differently. What I mean is, it’s hard to make progress on debt when you are sending $25 or $30 to 10 different creditors. It’s much easier to get debt paid off now that I only have to send payments to 1-2 creditors and thus can send bigger amounts toward those debts. 🙂

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