January Debt Payoff Update: Progress, Budgeting Wins, and Financial Goals
January was a solid month for my financial journey.
I was able to cover my bills, pay off over $500 in debt, and invest in some furniture for my apartment. AND SAVE!
While I will no longer be breaking down every single expense (because it is a lot of work and a little more personal that I care to share), I do want to highlight my progress and goals for the year ahead.
Y’all know where I started.
Tackling Debt: The $30,000 Goal
One of my biggest financial goals for this year, leading up to my 33rd birthday, is to pay off $30,000 worth of debt. Since my birthday , I’ve already paid off around $1,500, which is a strong start…but I still have a long way to go.
Debt payoff is never easy, but sticking to a budget over the past few months has made a huge difference. I’ve had to prioritize, make sacrifices, and be intentional with where my money goes. But now that I’ve built some momentum, I can focus on maximizing my income and staying disciplined with my spending.
Budgeting Wins: Staying on Track
One of the biggest takeaways from January was that sticking to my budget works. It has been no where near perfect, but I’ve been able to balance debt repayment, living expenses, and even some small quality-of-life spending.
By continuing to track my spending, prioritize debt payoff, and avoid unnecessary expenses, I can keep this momentum going. February is another chance to refine my strategy and push even closer to my long-term financial freedom.
Looking Ahead: Focusing on My Craft
With a more stable financial foundation, I can now shift some of my focus to honing my craft at work. My income plays a crucial role in my debt payoff plan, and improving my skills will only open up more opportunities. As I continue to pay off debt and stay on budget, I want to explore ways to increase my earning potential.
Final Thoughts
January was a step in the right direction. While the road ahead is still long, I am m proud of the progress I’ve made so far.
If you’re also on a debt-free journey, how did your January go? What strategies are working for you? Let’s keep each other accountable!