May 2015 Debt Report

- - Debt Reports

debt report may 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. There are a lot of generic plans out there that may work, but they never really break down exactly what is being done in real time. Here are all of the previous debt reports if you’re interested in seeing them,

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, not just by hearing generic directions that then leave you hanging to figure out the rest. So I wanted to give people the option of seeing a genuine example of how a regular 26 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 – $36,289.93 (-$320.01)

Car Loan @ 2.99% interest – $1,877.85 (-$185.50)

Sears Loan @ 0% interest – $871.75 (-$53.00)

Furniture Loan @ 0% interest – $4,214.94 (-$132.31)

That means that this month I paid off $690.82 & my total debt is now $43,386.78!

Bummer – My best month ever, was followed up by my second to worst month ever.


What happened?!

A few weeks ago, I was driving home having a great time – windows down, warm weather, radio blaring – and then it happened. I looked down and my check engine light was on and the temperature gauge was above the “H” on my thermometer. 

I pulled over as soon as I could and called a tow truck. Fast forward to the next day, and I find out my entire radiator, hoses, thermometer, etc. needed to be replaced.

$600+ later, I had my car back. 

That is the reason my total debt paid this month was so low. I could sit here and be sad about this situation, but it could be a lot worse.  I’m extremely luck that I even had the money to pay for this – I didn’t have to take money out of my savings for this. That feels good.


Progress Since the Beginning

I’ve crossed the $19,000 mark!  :)$19,598 paid off in 14 months. I can taste that $20k paid off mark and should be there soon! That feels amazing. 

Download the free template to
create your own Debt Report!


ICYMI – In Case You Missed It

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


zina kumokZina Kumok is a personal finance blogger who has been at it for over 3 years. She journaled her way through paying off $28,000 in about 36 months. Pretty impressive if you ask me!

Check out Zina’s story here.



savings accounts multipliedI recently had written an article for about why it was important to have separate places to keep your money. I explained my set up using multiple savings accounts, and how they could help you.

I heard about tons of different ways to set up multiple accounts, and I want to test them all out and show you the results.

I started by detailing my current setup with Ally Bank

I then went and tested out Capital One 360 savings and found quite a few awesome features you don’t want to miss!

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, so you can stop looking in the rearview mirror and start moving forward. 


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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. 

  • Amy

    This is still a big accomplishment – especially given the extra challenge that was thrown at you! Car repairs can be so pricey!!

    • Thanks, Amy! I appreciate that. Cars in general can be very pricey – this is just a good reminder of that! 🙂

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