December 2020 Debt Payoff Progress

I cannot believe it has been a year since I began this journey! Going into 2020 I had goals galore. I actually thought it would be practical to set 20 goals for 2020.

How 2020 Affected My Debt pay off progress

If you were over the age of 10 in the year 2020, you probably have some idea of how that went.

One of the most challenging things about this year was the realization that people fucking suck. I have always been an optimistic person but the events of 2020 truly makes me wonder about humanity.

The complete lack of care for one another is almost unbelievable.

From the selfish anti-maskers to the racists trolls, I am just seeing land mines everywhere I turn.

What I Thought Would Happen

I thought I was going to become completely debt free by the end of 2020. I had plans for side hustles after side hustles.

My Etsy shop was just starting to take off and I just knew the Spring time would bring me loads of cash. Afterall, my niche is Bachelorette parties and that time is one of the most popular times for weddings.

With lockdowns, a lot of people ended up canceling their weddings and thus with that went the expected revenue.

I also had the idea of working during the weekends. With juggling pandemic life and my full time job, that idea quickly went out the window.

This left me trying to figure out other ways to bring in more income and cut down on my savings.

How I Pivoted

I actually ended up opening another Etsy shop in an entirely different niche. To be fair, I was thinking about this idea pre-2020 madness.

Luckily for me, this shop ended up bring in about $200 a month after fees. A great percentage of this money went towards my student loans.

I also looked for a different job. My last company, left a lot to be desired. One day I will write a book about it. The current working title is… Bat Shit Crazy: Tales From Corporate America.

Getting a different job also help me to increase my income and the additional pay went towards my student loans and other debts.

Another thing I also did was move money out of my vacation fund. I love traveling and I am planning a big trip to Italy with my mom in the near furture.

Since, we are most likely not going anywhere for the next year or so, I used that money $1,200 and put it towards my student loans.

CURRENT DEBT TOTALS

I am student loan free!

No. More. Sallie Mae.

To celebrate this milestone, I got a cake from Bear and The Bull Bakery located in Phoenix, AZ. It was the triple chocolate threat and it was delicious.

• Student Loans = ZERO
• Car Loan = $10,084.39

Total Debt As Of December 2020: $10,084.39

Going Forward

Even though I was not able to achieve all my 2020 goals, I am glad to be able to cross ‘Pay off Student Loans’ from my list. To me, crossing this goal off my financial goals list means that I can now allocate this money to other things.

In order to bring my business ideas to life, I need time and capital. Getting rid of my student loans helps me to gain at least one of those things.

How About You?

How was your 2020? Did you cross off any big goals from your bucket list? Let me know down below.