Debt Free Journey: December 2020

What a crazy month it has been! December was anticipated to be quite different from the rest of the year so I am pleased to report that my budget is still intact. Even with the holidays I was able to pay down $3,000 on the student loans!

Total Balance: $7,609.29

Last month I talked about how the holidays should not be a surprise to the budget. For me it was not. I am thankful to have had income that allowed me to save up and create what I call the Christmas Fund. This fund has money set aside throughout the year so I can plan out gift giving and have a budget for the holiday season. This fund has been a gift to myself in accomplishing my goal of becoming debt free. I will be maintaining a Christmas/Birthday Fund in my budget.

I was on Christmas vacation and set aside a line item (nothing crazy; food and miscellaneous spending) to enjoy my time off. While being home for the holidays I was able to limit spending by being with family, so I did not dig into the vacation line item very much. This line item was made possible by the work trips that earned me just a little bit of extra income.

Next month I continue on work trips and anticipate a little extra income to be added to the debt repayment. Remember, I am hoping to be debt free by February 2021 if at all possible. I can absolutely be done in March 2021, but February would be awesome. In January I will be able to finally bring bring down the number of student loan accounts to one single account. The rest of my accounts (7) have been paid in full. This is an exciting time!

Thank you for following along on this long, tedious journey. I have been on a debt free journey for years, but it wasn’t until last year that I decided to get serious about my budget and behavior. Here’s to a new year and debt freedom in 2021.

Be strong. Love God. Love others.


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