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January 2017 Debt Repayment

January 27, 2017
AUTHOR: Emilie
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Welcome to January’s debt repayment update where I show you the progress I made on paying off my debt over the last month.

If you’re new to Burke Does, you may be wondering why I would want to share these very real and personal numbers on the blog. You can simply skip to the next section if you’re not new here.

This all started soon after college when I tried to build my first budget and had no idea how to do that. While it too me a while, I did successfully start budget and get a grasp on my debt. In January 2016, I shared my financial status. At the end of the year, I shared my Financial Year In Review. I try to be as transparent as possible in my successes and my failures. We’re just real here, no fluff or BS here.

January 2017
December January Change Percent Change
Car Loan (USAA) 16130.48 15880.74 249.74 1.55%
ECSI 8121.46 8062.30 59.16 0.73%
Upstart 3858.55 3695.49 163.06 4.23%
Credit Cards
Southwest (Chase) 1719.39 2013.38 -293.99 17.10%
Amazon (Chase) 0 0 0
Discover 2228 2182 46 2.06%
Chase Sapphire Reserve 0  481.78 -481.78 100%
Combined Debt 32057.88 32315.69 -257.81 0.80%

This might come as a surprise, but I’m actually really happy with how this month went! Let me explain.


There are two big caveats to this month’s numbers- first, I’m currently floating about $1500 of reimbursements from work. I’ve already bought and paid for my February and March flights and my March hotel. I will submit those all for reimbursements after I return from my February trip in the middle of the month and I should get reimbursed by the end of the month. This means that I accrued $257.81 despite paying $1500 of work expenses. If you do the math there, I did preeeetty well.

Second, I’ve decided not to take a “paycheck” from Burke Does anymore. Where as last year, I was taking net revenue (the difference between what I brought in and what I spent) as pay each month, I’ve decided that I will let this money build a little bit so that I can afford some bigger expenses that I might want to spend money on for the brand this year and because I’m determined to use BD money to pay for my 2017 Financial Goal #1 and 2017 Financial Goal #2. If this were not a just-me thing, I’d run it like a real business bank account and that’s the approach I want to be better at taking this year, that way I separate BD money and Emilie money just a little bit more. I may reevaluate this position at the end of the quarter.

This month, I managed to have my best friend from high school visit and spend 8 days traveling without absolutely destroying my budget. For the first month recovering from the new year, not bad, if you ask me.

Looking forward to February, I’m excited to have my sister visiting and travel for work (and get that reimbursement).

Overall, not bad.

2017 Financial Goals

  1. Build emergency savings fund to 4K.
  2. Be financially prepared for Ricardo’s Wedding ($2000 by August) and FinCon ($1500 by October).
  3. Pay off 20K of debt


Current Debt-Free Date: December 2018.

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