November Debt Repayment Update: Annual Goal Met

I am in total and complete denial that it’s December. It has been unusually warm here so it has been totally screwing with my internal clock. No, I haven’t done any Christmas shopping…the worst is over though, we have made a list and just need a day to execute it sans child.

November wasn’t as stellar as I was hoping. Like Holly, we had quite a few unexpected expenses, most due to my husbands work travel expenses, some of which we’ll recoup but had to take out of our cash flow for now. Better than going into debt right?

To remind you, we need to be putting $2,068 towards debt every month to meet our target. This month we came in a little short at $1,574. I’m hoping to make this difference up in the next few months but I’m not going to worry too much about it right now. I also want to beef up the ER fund a bit more so we’ll see how things work out.

This time last year I published a post about finally breaking the 100k (worth of debt) goal. At the time, early November 2013, we owed about 97k and in the same post I wrote out the goal of hoping to enter 2015 owing less than 78k. I’m happy to report that as of today, we owe approximately $77,700. Entering 2015 I suspect we’ll owe about $77,000. We were able to pay off 20k worth of principal alone in the last year. I didn’t know if we’d meet it but we did 🙂

How are your goals coming along?

Enjoy Plunged in Debt?


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  1. Catherine,

    That is so impressive that you were able to knock 20k off of the principal. It is very exciting when you set financial goals and then are able to achieve them. Many times when we are in debt we cannot see the forest for the trees but you continue to teach us the balance of being able to enjoy your life and pay off your debt.

    I look forward to what you are able to accomplish in 2015. We all can learn many valuable lessons from following you as you give so many nuggets along the way of how to manage finances. Thank you for sharing.

  2. I wish our debt was coming down as fast as yours. Congratulations. We have a very small shovel to dig out of debt. ;-O

  3. Great job Catherine! I’m so glad you were able to meet your 2014 debt payoff goal. Awesome!

  4. GREAT JOB!!!

  5. Jon @ Money Smart Guides says

    Great job with the debt payoff! We are doing good with our goals, but are going to come up short on our savings goal for the year. We still saved a large amount, but we did a bunch of house projects and my wife took some classes for certification that caused us to put our grand savings plan on hold. We might look at trying again in the new year, but have to sit down and run through the numbers.

  6. So awesome that you met your goal! Congratulations! Now to the next 20k!

  7. Hey that’s great news Catherine. You are making substantial dents in your debt which means you are on the right path and doing it right! I’m sure you will do even better in 2015.

  8. Congrats, Catherine! That’s awesome! What a good way to start the new year. Love it! We haven’t run our 2014 numbers yet, but I have my fingers crossed for a high savings rate… we’ll have to see.

  9. Excellent job! You guys killed it this year =)

  10. You are doing such a great job! Congrats. My year has been okay with debt repayment, but not amazing. I really want to boost my income in 2015!

  11. Am so proud of you!!! Keep up the hard work and we will be reading your debt free post soon.

  12. Cath, you should be executing what you have planned. It’s almost half of December. You know the stress when you hurry up to get those on the lists done. Good luck Cath.

  13. Amazing! Congratulations! That is a huge accomplishment that you should be very proud of. I’m hoping we do a lot better in 2015 than we did in 2014 (from okay to great!)


  1. […] This isn’t even anything I noticed initially. I’d see the extra cash in the accounts and allow it to get absorbed by spending more on groceries or eating out when really, that $25 should be used for reaching our goals. If gas stayed this price for a month that’s a $100 difference, or almost 1/4 what we were short in last months financial goals. […]

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