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December 2017 Budget and Debt Results + 2017 Recap

January 2, 2018

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We’re 2 days into the new year and I’ve decided it’s going to be awesome.

I haven’t really set any specific goals this year, but I did decide my word of the year will be “simplify”.

I even started a just for fun Facebook group with a few friends to help me stay accountable with my goal to simplify this year.

I’m also excited to write this debt update because not only do I get to review and reflect on December, but I’m also going to show my results for the entire year.

Here we go!

Debt Totals:

11/30/2017 – $124,990.28 all debt
$16,571.85 without mortgage

12/31/2017 – $124,480.51 all debt
$16,296.79 without mortgage

Difference – -$509.77 all debt
-$275.06 without mortgage

2017 Total Debt Payoff: $11,855.15

Darn! So close to being $1k/month average. I am excited that all I have left is a small student loan, my car loan, and my mortgage. Woot!

Savings:

11/30/2017 – $2,015.34
12/31/2017 – $2,036.97
Difference – $21.63 Increase

2017 Total Savings Increase: $325.08

Spending:

CategoryMonthly Total
Saving$21.63
Mortgage$557.40
City Bill$70.47
Gas Bill$17.52
Netflix/Hulu$18.98
Internet$80.00
Phone$95.25
Fuel$60.42
Auto Insurance$77.80
Health Insurance$306.70
Cleaning$90.00
Personal Trainer$170.00
Cash/Other Spending$2113.31
Health Savings$400.00
Travel Savings$0.00
Debt$341.50
TOTAL$4,420.98

Thoughts:

Youch! That’s an expensive month.

$400 was the last bit I needed to save for my dental work, which I then paid for later in the month. It came out to $9,980. I didn’t include that above (only the $400 I saved toward it in December) because I’ve been including the savings for it each month all year in 2017.

My high spending this month was due to a few things:

  • An eye doctor appointment (the bill finally came back after insurance was applied).
  • A home improvement project that I needed a couple of tools and supplies for.
  • Christmas gifts for friends and family.
  • A couple of charitable donations.
  • Way too much eating out.

Meh! At least it’s a new year and I’m still making financial progress.

How was your December? What is your financial goal for 2018?

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12 responses to “December 2017 Budget and Debt Results + 2017 Recap

  1. Nice job on your budget, Kayla! Hey, any reduction in debt and increase in savings is AWESOME! I think in 2018 I’m going to start tracking my budget on my blog… I feel like it really would make me even more accountable. How did you get that table on your site?

  2. Haha, I feel like the end of the year is notorious for making you eat out. I find our eat out budget goes up a bit ever Oct/Nov/Dec. No idea why (holiday stress maybe?). Congrats on such an amazing month, and I think it’s awesome that you were able to pay for your dental work in cash!

    1. Yes, I was really glad to be able to get my dental work done without having to go into debt to do it. Of course I had to wait until I had the money saved up, but it paid off. Now I have a beautiful smile that makes me feel better about myself and no debt to go with it!

  3. 2017 was a great year financially for my wife and I. Looks like you did as well! As far as our financial goals, we’re wanting to eat out less. We’re going for 3x at most a month instead of once a week.

    1. Sometimes it’s hard to make major changes in your lifestyle and budget. But even cutting back eating out once per month can add up by the end of the year. It’s a small change you may not notice very much but every little bit helps!

  4. Way to be on your debt! Before you know it, you’ll have it completely knocked out of the park! What’s your timeline–are you shooting for non-mortgage debt freedom in the next couple years?

    December is always h-e-double-hockey-sticks on my budget. You’re not alone in that haha. Even though I plan for increased spending my brain still hates it and stresses out. January is always a huge reset.

    1. Yeah, it sounds kind of Scrooge like for me to say I am always glad when December is over with all of its extra spending. January is, as you say, a time to reset, review, and get back on track. As far as my home mortgage, I am concentrating on paying off my student loan and car first. Once those are paid I will either tackle my mortgage or build some savings – I haven’t decided yet which to put ahead of the other.

  5. This is awesome! I can’t believe I just saw this. You should be so proud of yourself. Debt can be extremely disheartening at times. Look forward to seeing your progress ing 2018. Keep it up 🙂

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