Debt Update and December Goals

The main reason I started this blog is to help me stay responsibility as I pay our debt. I feel answerable to everyone who visits this blog  if I fail to continue paying my debt consistently. Since joining the personal finance community, I have become more responsible with my finances and I have been able to attack our debt with all I have. I have  had temptations to swipe my credit cards but when I think of how it will throw off my debt payment calculations, I stop in my tracks.

November was a good month because it was my wife’s three pay check month which was a big boost to our monthly income. However, we went over our budget due to some few things that costed higher than usual. The extra money from my wife’s paycheck will be included in the December debt update since the check came at the end of the month. So here is how things look like now;

Our Borrowed Cents Update

Payments made in November    -    $596.82

Extra Payments                                  - $0

New balance                          –    $22,721.53

Emergency Fund & Retirement

I slowed down my emergency fund contribution so that I can put more money into the debt. So now I am just adding $100 per month. I still have not opened an IRA because I obviously need money to do so. If I am not wrong, I think I have until April 2014 to contribute for this year. I am not sure if that works if one has not opened an account already.

Blog Goals

  • Guest post – I have not done so. I have been very busy but I am planning to prepare some posts for guest posting. Fail
  • Comment on other blogs more – I have stepped up on this one but I need to do much better. It is possible when my schedule lightens up.
  • Open a Twitter Account – I opened this already. Follow me @borrowedcents.
  • Break the 200,000 Alexa ranking barrier – My Alexa ranking has improved and it is down to 230′s where it seems to have stalled. I think I need to put more effort to break the 200k mark. Fail

Personal and financial Goals

  • Make extra payments on the debt – We got some extra money to do so but it will affect our December payment.
  • Continue growing my emergency fund – Still growing slowly by &100 each month.
  • Try to stay within the budget – Big Fail
  • Start saving for retirement - Fail
  • Make some side income – I made some little income on the side in the 100′s.
  • Join the gym – Fail.- I am not dropping this because I need to get back in shape.
  • Find a job – There is where most of my energy is and it is getting frustrating. But I am keeping the faith. I know once I get the first job, many doors will open.

I am not adding new goals for December. I will try to achieve the ones I failed in November. Income wise, November was good but I failed in most of the other goals. Staying positive in December. Honestly, the biggest goal I would like to achieve right now is getting a job. That would change everything.

How was November for you and what are your December goals?



6 Responses to Debt Update and December Goals

  1. To think that there are more expenses coming up in the month of December, it could be a bit disappointing when we go over our budget. But these things happen. What’s important is we do our best to stay positive and continue working on our goal. Wishing you the best of luck.
    Jen @ Frugal Rules recently posted…And You Wonder Why We Have Financial Problems…My Profile

  2. dojo says:

    We did quite OK in November, but December will probably mean less income (people are getting ready for the holidays) and more savings. Let’s hope January will be better.
    dojo recently posted…Personal finance book: The Millionaire Next DoorMy Profile

  3. Sandy says:

    I wouldn’t say that most of these were a FAIL. Some things you really need a job or more income to be able to do. Don’t beat up on yourself.
    Sandy recently posted…Entrepreneurship Is Not About The MoneyMy Profile

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