July 2015 Debt Report

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debt report july 2015

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 for you to reference.

After all of the research I’ve done, I can tell you that 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 27 year old is getting their act together.

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

Thanks for showing up here to check out my wins – and losses. Here goes!  

The Numbers, plain and simple.

 Student Loan @ 3.0% interest – $35,538.27 (-$618.88)

Sears Loan @ 0% interest – $765.75 (-$53.00)

Furniture Loan @ 0% interest – $3950.32 (-$132.31)

That means that this month I paid off $804.19 & my total debt is now $40,254.34!

Total Debt Paid off: $22,731



Even though I wasn’t able to pay off as much as I would have liked this month, I’m still proud of the progress I made.

Paying off my car and refilling my emergency fund made it difficult to put as much as normal towards my student loans. However, my emergency fund is now back to around $1,500 so I’m ready to rock in August!

Plus, even though technically I got paid 3 times in July, it’s going to be like getting paid three times in August since on the last day of the month I really can’t put that money towards anything because the transfer would take too long. I already have about $500 going towards my student loan and it’s the 2nd of the month. So, I’m preparing for a big month in terms of progress during August.

I think I smell a debt number under $40k coming…. 😉 

Progress Since the Beginning

 july 2015 debt report

I have officially paid off more than a third of my debt…..WOW. I didn’t even realize this until I was making the chart for this month’s report. How awesome is that!?!?!

Even though I changed my payoff plan slightly, I still would love to be debt free around my 30th birthday in 2017. To do that I’ll need to kick it up a notch and start putting around $1650 towards debt each month. I may need to get a second job….

ICYMI – In Case You Missed It

In case you’ve missed them, here are the stories that went live on Bright Cents this month:

16 Ways to Become Just Another Broke Millennial

Paying Off Loans with My Savings Account? [Reader Question]

I Sold My Car….Now What? – Living Without a Car

If you have any questions about creating your own debt report, please feel free to contact me. Otherwise, I’ve set up a system to make it easy for you to create your own (below)  to help you stay on track.

Download the free template to
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. 

  • Ali

    Great chart! It really shows how much progress you’ve made – congrats!!

    • Thank you, I love seeing the charts to remind me of how far I’ve come….and how much farther I’ve got to go :O

  • Amy

    That’s still some great progress! And I look forward to next month, when your total will definitely be well below $40K!

    • Haha, thanks Amy me too! It’s actually already there but….shh! 🙂

  • Congratulations on your progress. That is a worthy goal to be debt free by 30!
    It is so easy to go into debt, yet quite difficult to work our way out of it. The path out is a double whammy since we need to stop buying stuff (pleasure) and we feel the “pain” of paying off what we borrowed. You are on the right track.

  • You are killing it. Keep up the good work.