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Holy Guacamole, 2019 is officially over.

December went super fast (of course), but I had a lot more time off from work, spent more time with my loved ones, and worked on a lot of my personal goals.

It was a great month overall, but also a great month for my finances.

In December I also launched my Personal Finance YouTube channel! I’m so excited about it. It’s a place where I share even more of my financial journey and help to educate people on finances.

My goal is to help as many people as possible to start taking control of their money and to inspire them with my own progress.

I also announced last month that I will be doing a No Spend Year for 2020!

I’m excited because I know I am doing this from a place of abundance, not a place of scarcity. I have realized I have enough in my life. From my clothes and shoes to home decor and books, I have enough. It feels good to start this journey.

Anyway, let’s get into my December debt and spending update, it’s pretty good!

DEBT PAYMENT/INCOME SPREADSHEET

Current FICO Score: 723
Current Debt: $57,356.90
Roth IRA Value: $2,849.45

THE GOOD NEWS

My credit score increased

Because two of my credit card limits increased and I paid off more debt, my score increased quite a bit. My score isn’t too important to me right now, but I still like to keep it as high as possible.

I paid off over $1,500 of debt

Woo Hoo!!! Some great progress this month!

It’s crazy that it feels like such a large amount, but it’s really just a drop in the bucket. It’s OK though, small progress is still progress.

To be honest, instead of using the hundreds that I had in my ‘Gifts’ sinking fund, I used it to pay off more debt. I bought a few gifts for everyone and then used the rest for my debt, I think that’s understandable.

I really want to make progress on those 2 credit cards/balance transfers, so this definitely helped.

My money mindset has been more positive

I still think about money every single day, almost all day. However, I am feeling good about this year and the progress I will make.

Even the obstacles I will face, I plan on facing with a more abundant mindset.

I made a good amount of extra income

From my online business to selling things to cashback from my credit card, $650 isn’t so bad! I’m SO grateful for every bit of it, but I’m still looking to increase this drastically in 2020!

THE BAD NEWS

Still dealing with legal issues

I went to speak with an attorney regarding my issue, which was a $175 conversation.

I also ended up not trusting him and ending that relationship. I’m not really sure the status of the issue right now, but I’m just accepting it for what it is. Either way, I lose money and either way, I’m good.

SPENDING

Savings/Sinking Funds: ($1,685) I’m not including this in my “spending” total because it’s not actually spending. $200 went to my sinking funds. The rest is for my taxes.

Investing: ($100) I automatically invest $100 into my Roth IRA each month.

Donate: ($50) Every month I donate at least $50. This month I donated to Second Chance Rescue NYC. Please donate to them if you can!

Rent: ($1,316) The cost of my one bedroom one bath apartment near Atlanta, GA!

Renter’s insurance: ($15.66) I am required to have renter’s insurance for my apartment.

Trash: ($35) Valet trash is mandatory at my apartment. Dumb, I know.

Wi-fi: ($50) I have Google Fiber. It is $50 a month.

Electricity: ($55.05) My electricity bill.

Water: ($38.30) My water bill.

Food: ($274.66) This is all on groceries and food out.

Gas: ($48.92) I got gas twice.

Health: ($32.40) This includes my Ritual multivitamins ($32.40).

Car: ($382.55) My minimum car payment.

Student Loan Debt: ($301.14) This is my new minimum student loan payment. I didn’t put any extra toward my loans since they’re technically on my credit cards now.

Credit Card Debt: ($523.91) I think this number may be incorrect, but I’m not sure. I know I paid off my Apple card and made pretty decent progress on my other cards (balance transfers).

Insurance: ($147.15) This includes vision, dental, and life insurance. I have health insurance through work on top of my salary which is really nice.

Business: ($103.99) This includes paying for Tailwind and GSuite. I also purchased a year of Mailerlite for my e-mail list.

Spotify: ($9.99) My free 6-month trial of Spotify ended so I am now going to be paying for it monthly!

Lor (Phone bill/car insurance): ($280) Lor = my sister. She pays my phone bill so I pay her for that. I also pay for my dad and step mom’s phone bills because my dad pays for my car insurance…the costs basically equal out. I pay an extra $50 to help her out with our dogs.

Other: ($344.45) This category basically includes unnecessary spending. 

I bought:
-Natalie Bacon Coaching – $49
-Attorney Meeting – $175
-Interest – $17.90
-Gifts – $63.81
-Flight to Chicago – $43.78
-Prints at Office Depot – $8.96

Excluding my savings and debt I spent a total of $2,801.57.

Let’s Review my December Goals

  • Get my total debt under $58K CHECK
  • Launch my personal finance YouTube channel CHECK
  • Get clear about my No Spend Year 2020 CHECK

January Goals

  • No spend
  • Less than $250 on groceries/food out
  • Continue to work on my money mindset

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