End of December 2013 Debt Repayment Update

Debt Repayment UpdateHappy New Year’s Eve Friends!

No one loves the holidays more than this Girl but it’s always nice to get back to the regular scheduled programming of life too. J and I don’t have any big party plans for NYE except make some cheese fondue, eat appys for dinner, play Super Mario on Wii and watch the ball drop at Times Square on TV and hope that I don’t fall asleep by 12:01am.

Wow. My last Debt Repayment Update for 2013.

All I really wanted for Christmas this year (aside from some cute, comfy Victoria Secret PJs!) was for my debt to reach the under $40k milestone and I’m so happy to report that it has!

At the beginning of December I had already mentally prepared myself for not making more than my usual over $1k debt repayment at the end of the month because I knew that I was going to be setting aside $500 for Christmas presents (I have a big immediate family!) and I didn’t know if I was going to be getting a Christmas work bonus or not.

I received the small Christmas work bonus. Every penny of it went towards debt repayment.

I also received Christmas cash from my parents and J’s grandma. Every penny of that went towards me. ;)

November Student Loan: – $40,397.53

End of December Student Loan: - $38,872.79

Which means I paid a total of $1,524.74 towards debt this month.

All in total, I knocked out $18,586.15 of my original - $57,458.94 debt in the year 2013!!! Someone please pinch me so I know I’m not dreaming. :D

I also had some non-debt related goals for December.

- Go see the bright twinkling Christmas lights at Stanley Park and VanDusen Botanical Gardens here in Vancouver – PASS! The forever child in me will always be awed by seeing bright Christmas lights!

- Have a frugal, sugar-filled, nostalgic date night making gingerbread houses – PASS!  It was a fun date night. J is much better at decorating gingerbread houses than I am since I couldn’t stop eating the candy!

- Keep my Christmas budget under $500 – PASS!  I love gift-giving and I’m happy to say that I bought thoughtful presents for everyone on my list while still remaining comfortably under budget this year!

- Spend no more than $450 a month on groceries – PASS!  This one was kinda an easy peasy goal since we were not at our condo for a week of December but I will take a win when I can. ;)

- Not gain any weight over the holidays but I’m realistic in knowing I probably won’t lose any weight either – FAIL. I don’t know how much weight I officially gained over the holidays but my skinny jeans felt extra “skinny” this morning. :(

- Finish Sophie Kinsella’s Wedding Night novel – I’ve been reading it forever – PASS!  Sophie Kinsella is one of my favorite chick lit authors but her latest novel was just brutally bad. Hopefully the next one is better!

I’m not setting any monthly goals for January since I already have some serious 2014 goals that I need to concentrate on.

How did you all do with your December goals?

Image Source: Alan Cleaver via Compfight cc

60 Comments on End of December 2013 Debt Repayment Update

  1. Laurie @thefrugalfarmerNo Gravatar
    December 31, 2013 at 6:23 am (4 months ago)

    Huge congrats on hitting the under 40k mark, GMD! What a great way to end 2013. :-) We kept our Christmas budget under 1k, and did pretty good on food too, when you add in all of the Christmas and New Year’s food, and Christmas baking extravagansas. All in all, a good month! Our New Year’s will be spent at home too – have fun!

    Reply
    • GMDNo Gravatar
      December 31, 2013 at 8:11 am (4 months ago)

      Hitting the under 40k mark is a great way for me to end 2013 for sure! :) Congrats on staying under budget with the holidays Laurie! Happy New Year!

      Reply
  2. Kasey @ Debt PerceptionNo Gravatar
    December 31, 2013 at 6:41 am (4 months ago)

    I didn’t even include my December goals in my update because they were the same as November and I failed at them, all. :/

    You’ve made some major progress this year! Congrats on getting under $40k!

    Reply
    • GMDNo Gravatar
      December 31, 2013 at 8:12 am (4 months ago)

      I never use to be that great at goals either but practice makes almost perfect!

      Reply
  3. Cait FlandersNo Gravatar
    December 31, 2013 at 6:50 am (4 months ago)

    Amazing update, lady! First, congrats on putting more than $18K towards debt this year! If you could boost that only slightly each year going forward, your debt would be gone before the end of 2015. I know that’s much sooner than your original debt-free date and there’s a wedding to pay for before that… but I just wanted to show you how well you’ve done. :)

    Anyway, it sounds like you had a great month! I’m jealous you went to see the VanDusen Gardens all lit up. I’ll have to go next year, for sure. Also, I have to agree that Sophie’s last book was a complete dud. Partway through, I skipped over, read the last page and called it quits.

    Happy New Year!

    Reply
    • GMDNo Gravatar
      December 31, 2013 at 8:16 am (4 months ago)

      Being debt-free before the end of 2015 would be dream come true for me! VanDusen was very “sophisticated” while Stanley Park was more “commercial and fun” but I enjoyed the lights at both equally. Sophie’s next book better not be such a dud! Happy New Year Cait!

      Reply
  4. AliciaNo Gravatar
    December 31, 2013 at 6:59 am (4 months ago)

    You SMASHED the “under-40k” goal by a lot! Congrats to you Wendy!

    I know the feeling of skinny jeans feeling extra skinny – I feel like I just dried them in the dryer four times on the hottest heat when I try to dance my way into them at the moment. Oh Holidays!

    Reply
    • GMDNo Gravatar
      December 31, 2013 at 8:18 am (4 months ago)

      Thanks Alicia! I did SMASH that debt goal eh? :D I think I’m just going to wear lulus until I lose that extra holiday weight. :P

      Reply
  5. Rebecca @ Stapler ConfessionsNo Gravatar
    December 31, 2013 at 7:04 am (4 months ago)

    Congrats on getting your loans below $40k! But I have to say … life is too short to read a bad book — just put it down and walk away ;)

    As for my December goals, I hoped to spend no more than $10 more on holiday gifts, and I failed — by $20. It was an ambitious goal, so I’m OK with spending just $30 more on holiday gifts.

    Reply
    • GMDNo Gravatar
      December 31, 2013 at 8:19 am (4 months ago)

      Life is too short to read a bad book but the OCD in me had to finish it for some reason haha. $30 on Christmas presents is amazing!

      Reply
  6. Tonya@Budget and the BeachNo Gravatar
    December 31, 2013 at 7:25 am (4 months ago)

    18 k is a huge number! Congrats and I hope you have continued success in 2014. I’m not doing anything tonight either. I got invited to a couple parties but I’d rather chill out and not worry about being on the road. Happy New Year!

    Reply
    • GMDNo Gravatar
      December 31, 2013 at 8:20 am (4 months ago)

      Thanks Tonya! I need the continued success in 2014 if I want to reach my big $20,000 debt repayment goal. Yikes! Happy New Year to you too!

      Reply
  7. Kali @ CommonSenseMillennialNo Gravatar
    December 31, 2013 at 7:28 am (4 months ago)

    Awesome update to finish out the year on! Congratulations again on the tremendous progress you’ve made in just one year :) Also, nice job getting through a bad book – you’re a better person than I am, I totally would have skimmed the rest and called it a day.

    Reply
    • GMDNo Gravatar
      December 31, 2013 at 8:22 am (4 months ago)

      Thanks Kali! The OCD nature in me just couldn’t skim through the book because Sophie Kinsella is one of my favourite authors so I’m crossing my fingers she will redeem herself with her next book.

      Reply
  8. Done by FortyNo Gravatar
    December 31, 2013 at 7:46 am (4 months ago)

    That’s such an impressive number for 2013. Well done, GMD. For what it’s worth, maintaining weight over the holidays is kind of the holy grail of goals. No shame in eating the turkey and cookies and other holiday goodness that comes around just once a year.

    Reply
    • GMDNo Gravatar
      December 31, 2013 at 8:24 am (4 months ago)

      I know it sounds like an excuse but those holiday goodies are truly only around during the holidays so I don’t feel too bad about indulging myself. :)

      Reply
  9. MichelleNo Gravatar
    December 31, 2013 at 8:23 am (4 months ago)

    Good job on getting under $40K! You definitely did great in 2013!

    I think we are just staying home tonight as well. We are battling the stomach flu and it’s not going too well :(

    Reply
    • GMDNo Gravatar
      December 31, 2013 at 8:47 am (4 months ago)

      Oh no! The stomach flu is the worst! I hope you and W feel better soon Michelle!

      Reply
  10. KK @ Student Debt SurvivorNo Gravatar
    December 31, 2013 at 8:48 am (4 months ago)

    You aren’t dreaming! And you worked so hard for it, so enjoy it! Last year I made year long goals, but I think it might make sense to have a big set of long-term (yearly) goals as well as monthly goals (more achievable so I’m seeing progress). Eric and I are likely going to stay in this year too. I have a contractor coming to fix our heating closet this afternoon (the walls were pretty smoke damaged thanks to our furnace burning up over the holidays). Not exactly the way I’d imagined this NYE, but I guess that’s the fun of being and adult and a homeowner, ugg ;-) Happy New Year!

    Reply
    • GMDNo Gravatar
      December 31, 2013 at 8:52 am (4 months ago)

      Thanks KK! I needed to hear someone tell me I’m not dreaming! :) I read about your heating closet. That sucks. :( Being an adult plus homeowner is pretty damn expensive sometimes. Happy New Year to you and Eric!

      Reply
  11. Shannon @ The Heavy PurseNo Gravatar
    December 31, 2013 at 8:58 am (4 months ago)

    Congratulations, Wendy! More than $18k paid towards debt in one year is amazing! I’m sure it feels great! Sounds like you did well against your goals. Love that you and J decorated gingerbread houses. Somehow a lot more candy seems to mysteriously disappear than what is used to decorate the houses in my home too! LOL! I wish you and J a wonderful 2014 and another great year of debt repayment to you!

    Reply
    • GMDNo Gravatar
      December 31, 2013 at 9:02 am (4 months ago)

      It’s a great mystery why candy disappears when decorating gingerbread houses!!! Happy New Year to you and your beautiful family Shannon!

      Reply
  12. GinaNo Gravatar
    December 31, 2013 at 9:45 am (4 months ago)

    Ugh, I feel ya on gaining weight during this time of year. This last week has been nothing but delicious food and sweet treats!

    Major congrats on paying down so much of your debt despite having to buy Christmas gifts this month. That’s awesome!

    Reply
    • GMDNo Gravatar
      December 31, 2013 at 9:50 am (4 months ago)

      Tonight is my last night of food indulgence since it is NYE but then I will be going back to my relatively healthy eating in the new year. I hope. ;)

      Reply
  13. Erin @ Grad Money MattersNo Gravatar
    December 31, 2013 at 9:49 am (4 months ago)

    You killed it this year, Wendy! Congratulations on paying down so much debt this year and good luck paying even more off in 2014!

    For 2014, I’m taking my annual goals and splitting them up into monthly goals instead of setting separate monthly goals. Like, I want to increase my net worth by $25k this year, so my monthly goal is to increase my NW by $2,083.33 :)

    Reply
    • GMDNo Gravatar
      December 31, 2013 at 10:30 am (4 months ago)

      Thanks Erin! You killed it as well with your debt repayment this year! Here’s to both of us having an even better debt repaying year for 2014! :)

      Reply
  14. Little HouseNo Gravatar
    December 31, 2013 at 11:16 am (4 months ago)

    Congrats on meeting your under $40K goal! I’m working on my goal list today for the first quarter of 2014. Happy New Year!

    Reply
    • GMDNo Gravatar
      December 31, 2013 at 11:38 am (4 months ago)

      Thank you! Happy New Year to you too!

      Reply
  15. E.M.No Gravatar
    December 31, 2013 at 11:56 am (4 months ago)

    Congrats on getting under $40k, and passing most of your goals! This year has been a great one for you =). I would probably be eating all the candy decorations for a gingerbread house, too. I made one for a home ec class in school once, it was fun.

    Reply
    • GMDNo Gravatar
      December 31, 2013 at 12:45 pm (4 months ago)

      Thank you E.M. 2013 was indeed a very good year for me. I’m hoping for an encore or better for 2014! :)

      Reply
  16. annaNo Gravatar
    December 31, 2013 at 12:04 pm (4 months ago)

    Yay, so proud of you for not only the December repayment, but your 2013 repayment – a super huge congrats, girl!! Awesome with your December goals, as well, and the thought of you and J playing Super Mario is too cute – gotta love being kids at heart. ;) Happy New Year, sis, can’t wait to see what 2014 has in store for you! xo

    Reply
    • GMDNo Gravatar
      December 31, 2013 at 12:47 pm (4 months ago)

      Thanks big sis! Only another true kid at heart would recognize another true kid at heart. ;) Happy New Year to you and B!

      Reply
  17. Fig @ Figuring Money OutNo Gravatar
    December 31, 2013 at 12:24 pm (4 months ago)

    Congrats on hitting that under 40k mark! You’ve paid off so much debt this year, what a great job!! I’m glad to hear 2013 has been so wonderful for you and hope 2014 is even better!

    Reply
    • GMDNo Gravatar
      December 31, 2013 at 12:48 pm (4 months ago)

      Thanks Fig! Happy New Year!

      Reply
  18. Dear DebtNo Gravatar
    December 31, 2013 at 10:39 pm (4 months ago)

    *Pinch* You are not dreaming! That is freaking amazing, you are under 40k!! I will be there in a few months and I cannot wait. i also got some holiday cash and will put some towards student loans, some towards me :) I have no plans tonight as I’m sick in bed. Boo. I don’t think I can do 20k in 2014, but I’m so inspired you have that as a goal. Watching you kick butt motivates me. Happy New Year!

    Reply
    • GMDNo Gravatar
      January 1, 2014 at 4:00 pm (4 months ago)

      Watching YOU kick butt motivates me dear friend. Our student loans won’t know what hit them in 2014! Happy New Year!

      Reply
  19. MichelleNo Gravatar
    January 1, 2014 at 6:08 am (4 months ago)

    Congrats on the amazing progress! $18K in debt repayment is no small feat, that is big news. Great job, Happy New Year!
    I did the same as you, had a low key New Years in with a few friends.

    Reply
    • GMDNo Gravatar
      January 1, 2014 at 4:01 pm (4 months ago)

      Thanks Michelle. Happy New Year!

      Reply
  20. Eva @ Girl Counting PenniesNo Gravatar
    January 1, 2014 at 6:21 am (4 months ago)

    Whoo, congrats on getting under $40k and well done on passing most of your goals! I am very proud of you! :P Hope you had fabulous NYE celebrations, best of luck in 2014, friend!

    Reply
    • GMDNo Gravatar
      January 1, 2014 at 4:01 pm (4 months ago)

      Thanks Eva. Happy New Year!

      Reply
  21. MichelleNo Gravatar
    January 1, 2014 at 9:22 am (4 months ago)

    Holy smokes! Rock it! Now you’re so close to under 35k!

    Reply
    • GMDNo Gravatar
      January 1, 2014 at 4:02 pm (4 months ago)

      Under $35k is still a few months away but I am looking forward to that next mini milestone!

      Reply
  22. Lindsey @ Cents & SensibilityNo Gravatar
    January 1, 2014 at 8:27 pm (4 months ago)

    Hey GMD! Congrats on your fabulous progress with debt repayment – good for you. :) My financial goals were a mixed bag, I contributed more than I thought to retirement (Yay!) but not as much to debt repayment as I wanted. 2014 will be my year!

    Reply
    • GMDNo Gravatar
      January 2, 2014 at 8:44 am (4 months ago)

      Thanks Lindsey. Yay for retirement savings! :)

      Reply
  23. Holly@ClubThriftyNo Gravatar
    January 2, 2014 at 6:11 am (4 months ago)

    Great job paying off so much debt this year!
    My pants are feeling a little tight as well….think I’ll wait a few weeks to weigh myself again =/

    Reply
    • GMDNo Gravatar
      January 2, 2014 at 8:44 am (4 months ago)

      I’m going to wait a few weeks to weigh myself as well. UGH.

      Reply
  24. Ryan @ Impersonal FinanceNo Gravatar
    January 2, 2014 at 9:04 am (4 months ago)

    Way to seriously kick some debt in the tail last year! Once you get that ball rolling, it begins to move faster and faster, so I’m sure you’ll knock out even more this year. And yeah, I’m still carrying some winter weight from 2010, so don’t feel too bad there.

    Reply
    • GMDNo Gravatar
      January 2, 2014 at 12:01 pm (4 months ago)

      Thanks for commenting Ryan! I’m really hoping to pay off $20,000 of debt in 2014 but we will see…

      Reply
    • GMDNo Gravatar
      January 2, 2014 at 12:27 pm (4 months ago)

      Thank you and Happy New Year to you Stefanie!

      Reply
  25. Retired By 40No Gravatar
    January 2, 2014 at 2:06 pm (4 months ago)

    That is some serious debt repayment progress! Good luck topping that next year! Best of luck and happy new year!

    Reply
    • GMDNo Gravatar
      January 2, 2014 at 2:16 pm (4 months ago)

      Thank you! I need all the luck I can get for topping this next year! Happy New Year to you too. :)

      Reply
  26. Tushar @ Everything FinanceNo Gravatar
    January 3, 2014 at 9:58 pm (3 months ago)

    I think I may have gained a couple of pounds over the holidays, too. You’re not alone there.

    You’ve done really well with your debt repayment. Do you have a debt plan for 2014 so you can project how much you may be able to pay off?

    Reply
    • GMDNo Gravatar
      January 4, 2014 at 9:52 am (3 months ago)

      Good question Tushar! I never had a debt repayment plan in 2013, except try to pay more than $1000/month towards debt and the only way to do that was keep my spending to a minimum and make more money with side hustling. This year I want to pay more than $20k towards debt and the only way to do that is make more money!!!

      Reply
  27. Crystal PKNo Gravatar
    January 4, 2014 at 7:38 pm (3 months ago)

    Over $18,000 in a year is amazing! Congratulations and I hope 2014 offers more opportunity to keep it up!!

    Reply
    • GMDNo Gravatar
      January 4, 2014 at 8:06 pm (3 months ago)

      Thanks Crystal! I hope so too! :)

      Reply
  28. Tara @ Streets Ahead LivingNo Gravatar
    January 9, 2014 at 1:19 pm (3 months ago)

    Yay for debt under the $40,000 mark! I gotta say, I would see your high debt payments each month in your blog and tell myself that I can’t do that. But now that I pay my high interest loan every week (husband and I have joint accounts and one of us gets paid every week), I now pay $1,345 a month towards my loans and I honestly never thought I could do that. It’s amazing how easy debt payment can be if you break it up in to smaller, more frequent payments. :) Thanks for the inspiration!

    My current debt stands at $37,489.78 so we’re close. I’m hoping I get some tax return money I can throw at this come February and continue being able to pay down this debt at a serious rate.

    Reply
    • GMDNo Gravatar
      January 9, 2014 at 2:39 pm (3 months ago)

      I never thought I could pay over $1k each month towards my debt either until I just…did it! Mind over matter I tell ya. Thank you for making my day by calling me an inspiration. :)

      Me and you are very close in this debt repayment journey. I’ll be cheering you on Tara!

      Reply
  29. save. spend. splurge.No Gravatar
    January 13, 2014 at 3:07 pm (3 months ago)

    I hate it when favourite authors disappoint you… Kinsella is my favourite chicklit author hands down *sigh*

    As for debt repayment, congratulations :) You’re killing it!

    Reply
    • GMDNo Gravatar
      January 13, 2014 at 3:13 pm (3 months ago)

      All I have to say is Ms. Kinsella better step it up for her next book because Wedding Night was plain awful. *double sigh*

      Reply

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