December 2021 Personal Financial Update

personal financial update

The Holidays are here. Be sure to stay within budget when buying gifts.

Here is a personal financial update for December 2021. It’s been a good year. My wealth continues to increase, and my debt continues to drop. I’ve been Christmas shopping and planning for the upcoming year.

Wealth Building and Debt Paydown

My portfolio has grown around 15% for 2021, and it is currently hovering near a record high. I’m heavy in stocks, so I’ve ridden the wave of the markets over the past year. My strategy hasn’t changed. I’m regularly investing in several funds monthly. I’ve also been building cash.

During the past year my mortgage, my only debt, has fallen around 5%. This is expected, as I’m 3 years into a 20-year note, and I haven’t been paying extra on it. The plan is to eventually refinance the mortgage and pay extra. I’d like to have it paid off in 10 years.

Christmas Shopping

If you celebrate the holidays, then you might be in the middle of some shopping. Cash is the name of the game this year, as it was in past years. I won’t go into debt buying gifts for others. My gift list is limited to close family, and my girlfriend and I set a dollar limit for gift buying.

I personally haven’t taken advantage off online sales or coupon codes, but that isn’t a bad strategy to save a little money this season. Check this list for some of this year’s deals. Remember to only buy what you can afford. Keep long-term goals in mind and stay within your budget.

Looking Ahead

2022 is shaping up to be a busy year. The rental cottage will be up and running, there are projects to do at home and at our cabin, and I’m sure countless other things will pop up. So there is my last personal financial update for this year. How was your 2021? What goals do you have for the upcoming year? Share below.

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