Hi friends! Just a quick financial update on where I stand in terms of debt, savings and income for January 2017. January was a rough start to the year, with a bout of the stomach flu striking down me and my two boys, as well as other illnesses and distractions. So this post will be brief – but I wanted to make sure to get it out there for my own accountability, and for my faithful readers who journeyed along with me all throughout the past year.
Financially Fit 2017 – January Update
A little background – I started 2016 on a quest to become Financially Fit – out of debt and with an emergency fund. While my journey to get out of debt was not perfect, and I ended 2016 without reaching my goals, I am still aiming to be financially fit and to inspire others to improve their personal finances.
If you’re visiting my blog for the first time you might want to start by reading this post: How I’m Getting Financially Fit in 2016!
The Numbers Update*
*as of 1/30/2017
I know what you are really here for – the numbers! 😉 Here we go …
Consumer Debt (down to 3 credit cards) $10,625.11
Medical Debt $0
Car Loan/Lease (one of each) $41,965.85
Total Debt $52,590.96
Savings $217.66 (likely a few cents higher due to interest, didn’t check balance in January)
Progress? Yes! I was honestly not focused on financial goals at all in January. I haven’t set any goals for 2017 at all yet. But I still made progress! This is a testament to all of the hard work and focus I had throughout 2016. On my financially fit journey I spent many hours working on my budget, making conscious money choices, tracking my debt and income, reading money books (this one, and some of these) and educating myself financially through means like podcasts and other blogs. This hard work and effort pays off even during the times when I’m not hyper-focused on my money goals. I have, at the very least, made paying off debt a priority over shopping or needing “stuff.”
We have $1,873.76 LESS DEBT than we did one month ago in December 2016.
For comparison’s sake (and a longer view of this financial journey) I have $20, 424.05 LESS DEBT than I had in December 2015 when I first started blogging about my money goals. Feels pretty good to see that number in print! 🙂
Where Did the Extra Money Come From?
We paid off a significant amount of debt in January despite my lack of focus. I earned over $1,000 from home in January in various ways (learn more about what I do here). My husband also had a higher than usual paycheck month (his work is commission-based and not regular throughout the year). A residual check from a previous career was also received.
I cashed out $25.25 from Ibotta in January. That’s FREE money, from a FREE app. If you haven’t signed up yet, this is my referral link, click it now! When you verify your first rebate (within 2 weeks of signing up) you will get $10 and I will get $5! That’s a win win and just part of why I think you are CRAZY if you’re not using this app! My 2016 year earnings from Ibotta were well over $400! Don’t you want your part of that?
I did not reach my goal of becoming debt free in 2016. But am I financially fitter? Sure! I’m still on this journey and I’m not quitting. I am just experiencing natural ebbs and flows in my motivation and focus. I do still need to write down my plans and next steps for 2017. I’d also love to share the lessons I learned from Financially Fit 2016 if you’re interested in reading about it!
If you read this far – thank you! Your time and your interest in my story mean the world to me! <3
Want to help?
If you’d like to help my debt payoff journey in a small way, consider signing up for Ibotta through my referral link! Or use my Amazon link the next time you need to shop there, I’ll earn a small commission at no extra cost to you!
I also recommend you sign up for Swagbucks and Ebates while you’re at it! Swagbucks is a great way to earn giftcards, and Ebates let’s you earn money back shopping online. You can also check out my Hire Me page if you could benefit from my virtual assistant services – especially if you’re a fellow blogger!
If you found this post helpful or encouraging in any way – please share! Pin! Tweet! Stumble! Like! 🙂 I’d love to have it posted on your social media of choice or sent directly to a loved one who is struggling to get out of debt!
How was your January? Is 2017 off to a “fit” start financially?