January 2016 Debt Report

january 2016 debt report

What are Debt Reports?

Hello! If you’re new to my blog, I write a detailed report each month of how much debt I’ve been able to pay off. I show you exactly how much each loan balance has gone down and where my total debt stands. I do this to give you a real life example of how you can go about paying off your debts, and show you that it is possible and you’re not alone.

This is all here to help you see my progress, good and bad. Here are all of the previous debt reports if you’re interested in seeing them.

I am definitely one of the people who learns by seeing examples, so I wanted to give people the option of seeing a genuine example of how a regular 28-year-old is getting their act together.

You can download my free template to create your own Debt Report.


The Debt.

Student Loan @ 3.0% interest – $31,795.88 (-$308.52)

It’s so strange only having one line here to update. Remember in March of 2014 when it was many more than that?! 

It really cool to know that I actually got rid of that many debts! 🙂


Progress Since the Beginning

debt tracker jan 16

If you have any questions about creating your own debt report, I’ve set up a system to make it easy for you to create your own, and keep track of your progress.

Am I upset this is the least I’ve paid off in a month since starting? Not really.

I’m doing what I can and living in a city by yourself gets quite expensive. Plus, I’m trying to put myself out there and meet people so I’m not being as frugal as I was before. 

Yes, I’m still watching what I spend and trying to keep expenses low, but I’m also saving more than I had been before. I need to keep in mind that if something happens and I am unable to pay rent that month, it’s all on me. 

When you’re living with another person or in a committed relationship, you have someone that can help if you need a few days until your next check comes in. 

However, living alone is a completely different story – so I’m covering my bases. 

That said, I’m setting up a small emergency fund to have just in case something goes terribly wrong. Once I have enough set aside I can start putting more money towards my student loans again. 

Maybe this is also me getting “older and wiser”, I am coming up on the big 30 next year. 🙂 That was a joke if you couldn’t tell. Each year that passes ends up actually being better than the last, so I have no complaints on this end…yet! 


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Create Your Own Debt Report!
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I am Chenell Tull and so far, I've had a pretty rough time with my student loan debt. Recently, I've figured out a more productive "get out of debt" plan and the goal is to pay off over $60k in just 36 months. If you want to learn more, subscribe to the mailing list and get FREE updates on my successes and failures on this journey out of debt.