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Debt Sucks 2011 Year End Net Worth, Goals, Performance Omnibus

January 1, 2012 · 12 comments

This took me 6 8 hours to put together.
It’s okay, I have tea!

Last year all this information was spread out over something like 4 posts. Since there are trees to be saved, I’m smashing it all together in one giant post! Herein we shall find the following:

  1. The money numbers
  2. The blog numbers
  3. The goal achievedness (yes it is)
  4. The goal settings
  5. The usual monthly goodness

Hajimeyou!

The Money Numbers

  • Debt service – $15,693.65 (vs $13,221.93 in 2010)
  • Debt reduction - $14,732.27 (vs $12,311.65)
  • Monthly debt service – $1,207.20 (vs $1,017.07)
  • Spending money – $6,685.29 (vs $6,121.34), monthly average $557.1
  • Total take home income – $25,950.95 (vs $21,295.79, a 21.86% increase!)
    spendingpie2011

The Blog Numbers

  • Subscribers – 215 (vs 160)
  • Income – $3,230 (vs $1,350, up 139.3%)
  • Expenses – $696 (vs $311.03, up 123.8%)
  • Profit – $2,534 (vs $1,038.97, up 143.9%)

analytics2011

Those are purely non-search referrers. While I did get hit by Lifehacker a couple of times this year, they weren’t nearly as fruitful as in 2010. Ah well, I’m not complaining. Take those out and the traffic is probably up. The mad increase in profitability is all thanks to having someone else manage my advertising for me, but I’ve got a lot of work to do myself. It would’ve been a down year if it weren’t for that.

The Goal Achievedness

  • Reduce debt 33%The general idea here was that, with three and a half years left, I should shoot for a third to end up ahead of the game (when I was behind at the time). With my end of year payments, I bumped it up to 33.09%. Being barely over the line is no mistake, either, but it did come down to the last paycheck of the year.
  • $3000 emergency fund - Bahahahahaha no. What I do have is a $666.52 emergency fund, as well as various other savings. Since I didn’t really expect to hit this goal, it doesn’t hurt too much. It had reached as high as $1,985 back in May, but apparently I decided it was better to spend that money at the time. Go team.
  • Quit smokingSmoke free since August 7th. There are so many smells I wish I didn’t smell.
  • Run a 7 minute mileI thought this was pretty conservative, since I did a 6:30 in high school without having a goal in mind. I broke 8 minutes in July and haven’t run since. As I definitely remember that cold-weather running sucks balls, I just couldn’t bring myself to attempt a last minute effort.
  • Quit drinking (excessively) - Haven’t been keeping beer in the house for quite some time now. Got a 12 pack a month or so ago… that was uneventful. Money saved? Tons. All the more for hookers and blow.
  • Junk out - While I did have one pretty successful weekend wherein I managed to fill a truck and a trailer, things have pretty much flatlined since then. I’ve been trying to keep an eye on incoming stuff, and trashing stuff as it annoys me (Regifting Robin is getting tossed pretty soon), there hasn’t been much renewed effort. Neither pass nor fail.
  • Conversational Japanese - This was probably a bit unrealistic, but I did both slack quite a bit and had less than the full year to work on it. It’s not a failure, though, because I did make a heck of a lot of progress. I’ve got a pretty decent handle on the grammar, it’s just a lack of vocabulary that does me in now. Just last night, though, I watched Summer Wars for the first time in about 6 months. I’ve seen this movie at least 10 times, and it just blew me away at how much of it I suddenly understood. Still not enough to know what’s going on.

The Goal Settings

  • Reduce debt 50% – With 2.33 years left to go before my debt free goal date of May 2014, it just kinda makes sense to go for a clean half. This is actually just a bit more than what I paid off in 2011, at a smidge under 15k. Sensing that a flatline goal might be a pussy move, I’m also looking at 60%, which is just under 18k.
  • $3,000 emergency fund - I still think this is a good number for me, and should be easy as pie come May. After that it’ll just be a matter of not blowing it, or needing to use it. Not so pie.
  • Run a 6:30 mile - When facing failure, fail harder. I should be able to do this, dammit.
  • Junk out - Non-quantifiable goals suck. This is one of them. I’ll have to come up with something. A system, a schedule, something.
  • $10,000 side hustle income – This is the big one. Going from $2,500 to 10k sounds unrealistic… to some. I see no reason why I shouldn’t be able to do it, though. Ideas, I’ve got them. Honestly, though, there’s no way I’m ever going to make it in this business if I can’t hit this goal. Again, this is the big one.
  • Half hour daily Japanese – Since a language goal is terribly difficult to quantify, I figure it’s a hell of a lot easier to quantify the effort instead. This is going to be actual study time – watching a movie doesn’t count.

The Usual Monthly Goodness

From December 1 to January 1, my net worth increased an average of $64.86 per day, or $2,010.73 overall, to -$27,483.24. This is a 7.32% increase, and results in a projected zero net worth on 1/25/2014. Meanwhile, my magic number went down from $1,126.50 to $1,104.84.

nw0112
cct0112

Oh, and before I forget, one last look at the 2011 goal chart before I clear the slate!

sidebar2011

Wait, what’s that? Right in the middle there… Capital One paid off… December 31st!? Yeeeaaaaahhhhh dog! Debt eliminated, $200 monthly payment eliminated, and with that, my minimum monthly debt payment is down to an amazing $215!!! Yes, this is going to be an excellent year.

Ijou? Iie, choudo hajimete!

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{ 12 comments… read them below or add one }

J. Money January 1, 2012 at 0910

You can do it buddy! Takes a $hit ton of time putting this together (and killing your debt for that matter), but it sure is worth it in the end. Here’s to an incredible new year! :)

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Theresa January 1, 2012 at 1557

Congratulations on all of your hard work. You are down to 4 debts! Is the date correct for payoff of your mom debt? seems like you are going to be able to pay it off much sooner.

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Amanda L Grossman January 1, 2012 at 1906

Fantastic job!!!!

I speak Japanese (about beginning-medium efficiency)…and should really keep up with it before it disintegrates away.

I hope you meet all of your goals in 2012!

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Jake January 1, 2012 at 1912

Well then maybe you can tell me if what I said at the end there made any sense :-D I’m pretty sure I got it right…

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JoeTaxpayer January 2, 2012 at 1029

Good Luck! Going positive is the first step, the savings snowball after that.
As far as the junk goes, just do it, there’s a point of diminishing return from the over thinking and over quantifying. One of my own goals is to go paperless, mostly. All the monthly statements I can pull on line and save as a file. Working to get the last tens year’s packed into tidy PDFs and throw out tons of paper.

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Jake January 2, 2012 at 1500

Funny you say that, Joe. I was going through some drawers last night, and ended up with a certificate and a tax return sitting on my printer, waiting to be scanned. I also thought as I went to bed, “hey, maybe I should just scan *everything* I can…”

I also ended up with a quickly full trash can, which kinda killed my enthusiasm.

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Holly January 2, 2012 at 1333

Impressive recap Jake :) You have so much to be proud of. Your story, and your realism writing about it is inspirational to me.

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Jake January 2, 2012 at 1457

Oh Holly, you flatter me!

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Stevie January 3, 2012 at 1523

How do you create these graphics? I would love to use such a tool for my financial planning, with the visual elements. Any ideas are appreciated.

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Bear January 12, 2012 at 0915

I just came across your site (New Years links and all of that) and wanted to add the contrary voice that you shouldn’t neglect your savings, esp. in this economy. The thing is that you can always drop back to minimum payments on your debt but if you need cash you may be SOL. You can’t assume you can always pick up some extra work – maybe you were seriously injured in an accident or there was a major local trauma (earthquake, hurricane, etc) and the economy has cratered, etc. I think every one of my friends and myself (all middle-aged) have been there at least once. It happens to everyone.

I don’t have your detailed numbers but maybe six months of expenses (not income) in savings by the end of the year? If that means you have to push off debt payoff so be it.

The other point is that not all debt is created equal – student loans are extremely nasty if things get ugly… and see point above. Maybe things have gotten better (ha!) but when my friends and I discussed this a while back every single one of us – EVERYONE – had had student loan processors “lose” payments or suddenly had additional loans appear on our accounts or claim we left school a year earlier than we did and we owed more in interest, etc. EVERYONE. When we called they were indifferent about even looking into the problem. Why should they be? They knew you would ultimately have to pay whatever they claimed you owed because the consequences of default were too dire.

Bottom line is that student loans are necessary but they’re also extremely toxic. Some people claim that paying them off first should be your highest priority. I don’t go quite that far but I definitely wouldn’t treat them the same as other debt in the ladder, esp. if I didn’t have robust savings.

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Evan January 31, 2012 at 2257

What are you going to do to increase from 2.5k to 10K of side income? I think its time to use those skills you have!

Its been awesome watching you progress bro

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LittleFrugalista February 3, 2012 at 1118

Just came across your blog! I’ll definitely be following this one and particularly love/appreciate full disclosure on blog stats. I used to do blog analytics as a job and have always been curious about how much traffic different personal blogs get and how much money people end up making off them. Has remained a mystery until now! Thanks!

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