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Happy New Year!!
I can’t believe it’s already 2022! It doesn’t feel real yet.
I ended the year on a pretty strong note which feels really good. I feel good in general about where my finances are headed and I’m ready to be debt free in 2022!!
I hope you all had a great holiday. I ended up getting sick, but I’m feeling much better and I’m ready to focus on my goals again!
Let’s get into the details for this month:
General $ Updates
I reached over $12,000 saved for my student loans
I wasn’t sure if I was going to be able to reach this by the end of the year, but I did and I’m so glad!! I have over 1/3rd of my total debt saved up and ready to make a payment.
I saved $3,000 in my emergency fund (again)
My goal for the year was to have $6K saved in my emergency fund, but things came up and that didn’t quite happen. So I decided to reset and aim for $3K. I reached $3K again and it’s a great number to start the New Year with.
Student loan forbearance has been extended (AGAIN)
I was shocked to find out that student loan forbearance and 0% interest was extended through May 1st, 2022. I was eager to make my lump sum payment in February. I still don’t know if I’m going to continue to save or just make that payment anyway.
I started the month of December with my official debt at $36,000 and ended with $36,000. However, I technically started at $24,991.22 if you consider the money I have saved to pay those loans down.
In December I saved an additional $1,061.22 for my student loans (bringing my total saved to $12,079.56) so my final debt for December would be $23,920.44.
I still have paid $0 in interest 😊
Some main things to point out about my spending in December:
Groceries and Food out: I went over budget a bit in both, but I’m not stressing about these numbers.
Health/Beauty: I ended up spending more than I expected, but going forward this should be lower.
Personal: I told myself I would only be buying a new planner and notebook in December! However, I only bought a new planner because a previous client of mine was kind enough to send me a bullet journal!
Lingopie: One of my goals for 2022 is to REALLY learn Spanish. So I decided to take advantage of the sale Lingopie was having and signed up for the annual membership. Hopefully it’s a good way to learn.
Spotify: My Spotify membership doesn’t expire until February, but I wanted to take advantage of the 5% bonus on Wal-Mart.com that my Discover card was offering for Q4.
Full-time job (microbiologist): $5,134.44
Google AdSense (ad revenue from YouTube): $534.16
Financial Coaching: $650.00
Buy Me a Coffee/Venmo: $392.72
Mediavine (display ads on LivinglikeLeila): $150.23
Online/Business Income Total: $1,752.44
Chase Cashback: $56.85
Discover Cashback: $166.66 (2 referrals)
LinkedIn Survey: $5.00
Nielsen Research Study: $100.00
BOA Cash Rewards: $2.44
Extra Income Total: $393.55
Pre-Tax Total Income: $7,280.43
As of December 31st my net worth is $5,561.17!! Just last month I reached a positive net worth so to see it jump by $5K is amazing.
Roth IRA (VTSAX): $9,060.63 (up 5.7% compared to last month)
M1 Invest (VTI): $4,952.34 (up 16% compared to last month)
Coinbase: $120.89 (up 26.1% compared to last month)
- Taxes = $4,956.66
- Emergency Fund = $3,006.03
- Gifts = $0.78
- Medical/Dental = $1.00
- Car maintenance = $1,157.36
- Travel = $284.63
- Car insurance = $360.57
- Project $0 to Profit = $14.02
- Phone = $522.72
- MacBook = $802.30
My VantageScore increased by 1 point to 789!
December Goals Update
- Reach at least $11,400 in my student loan savings (Ideally $12K) CHECK
- Make over $1,500 online CHECK
- Reach $3,000 in my emergency fund again CHECK
January Money Goals
- Reach at least $13,000 in my student loan savings
- Make over $1,500 online
- Get 2 new financial coaching clients