New Year In Debt

Many of my resolutions this year are carry-overs from years past. And most of them are not concerned with money, or how much I have or don’t have or how much I owe, because, despite how much money means to me in terms of what is possible for my future, it isn’t intrinsic to me to care... which is why, perhaps, I find myself in such terrible debt in the first place.

But I do have money resolutions insofar as they are tied to the career I wish to have, etc. And those resolutions are:

1) Ready a beta of the digital publication and apply for grants.
2) Increase my freelance income to 20% of my net income.
3) Learn how to code.
4) Generate an income from a blog (not this one, lol).

I’m starting the year more soberly than is my fashion. I mean, I am actually doing Dry January yes, but I’m also looking at my ledgers and potential tax return with an even-headed acceptance that the return will not be substantial, nor will it save me.

I’m also looking at what I’ve managed to pay down this past year and couldn’t help but notice that despite my monthly payments to U.S. Dept of Education, my balance has increased by 2K.

Therefore! For the first six months this year, $100 more will target principle, and the second six months, an additional $200, provided my income increases. I’ve also signed up for automated payments which decreases the interest rate by 0.25%. Why did I not do that sooner.

As they stand,

Debts

1. Visa Credit Card: $2645
2. CareCredit: $0
3. AMEX Gold Card: $2875
4. Loan from Parents: $1300
5. Fedloan*: $138,165

Total paid down: -$275

*not included in Total paid down. Not ready for that shit.

Assets

Charles Schwab Individual Brokerage: $1857
Acorns: $1140

Total saved: $128

The good news! My dental crowns are paid off! Can’t say how excited I am to face each month without that weighing on me.

The bad is that obviously I went into debt for Christmas. Christmas is my Achilles heel. I will spring for jadeite glass and chandelier earrings and theramin workshops because my loved ones deserve those things god damn it. All that shit I said in my last post about making gifts rather than buying gifts was exactly that, because tbh, I work so much already that I barely had time to buy, wrap and ship everything.

I think a good plan for next year is to start saving now for it. Like, put $10 aside every week starting February.

I’d like to direct your attention now to my last post and my plan of attack:

The 52-week savings challenge: started. Moving accounts to Charles Schwab: done. Increase weekly deposit to Acorns: done. Open a retirement fund: not done (do it!). Business website: not done (do it!).

(Do it!)

James