I began tracking our finances in September, a habit I had kept religiously since I was about 16, but had let been unable to keep up with when I had returned to school full time in September 2014. In the year and a half I had been off work for school, we were down to one income and had accumulated $11,576.25 worth of debt on our Home Equity Line of Credit. Yikes!
We had managed to get it down as low as $7,679.37 but ended the year off at $8,703.59, having to borrow to cover some of our expenses while we were on our one month trip to Asia.
I knew 2 weddings and our trip would put a hamper on our debt repayment plan, but I guess I seriously underestimated by how much. Since I was on contract only, I was unpaid for the 4 weeks we were away, and although I’ve been told they’re bringing me back, I have yet to start work again.
On the bright side, the last quarter of 2015 wasn’t a total disaster; we did see a tiny increase in Net Worth of 0.78%, from $461,643.47 to $466,253.29.
So although our finances didn’t go as well as I had hoped in 2015, at least it was a small step in the right direction.
Here’s to keeping that momentum going in 2016!