October 2015 Debt Report

October 2015 Debt Report - 47% paid off

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.

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


The Numbers, plain and simple.

Student Loan @ 3.0% interest – $33,272.69 (-$153.32)

Sears Loan @ 0% interest – $659.75 (-$53.00)

Furniture Loan @ 0% interest – $3,685.70 (-$132.31)

This was a very strange month (I’ll get to that in a second) but my total debt is now at $33,272.69. 


What happened?

This month I moved out of my old home, and into a new one. Part of my “rent” for living in that previous house were those two loans above that are now crossed out – the Sears loan and the furniture loan. They were loans for things in the home we had purchased together, but after moving out they are not technically mine anymore.  

Now I will be paying more in actual rent and expenses since I will be living in an apartment, but I still plan to tackle my loans. My debt will start decreasing at a slower rate since I will be paying more in expenses not tied to debt – however I still want to tackle my ultimate goal of being debt free by age 30. 

best month ever challenge

I’ve signed up to be part of Hal Elrod’s Best Month Ever challenge. November is going to be the month I start making positive changes in terms of increasing my income, as opposed to only focusing on spending less.

The first expense on the chopping block? My rent. I want to make enough money on the side this month to get two months ahead in terms of my rent. Talk about a stretch goal! I will really need to buckle down to make that happen.

Sign up and download the progress journal so you can start having the best month of your life too – it’s free! I hope to see you in there! (Don’t worry that the month already started, you can apply the challenge whenever you sign up – just count 30 days out from there!)


Progress Since the Beginning

October 2015 Debt Progress


While technically I didn’t pay off these debts, I’m including them in my progress for consistency’s sake. We will just have to keep in mind that with all of the expenses that went into me moving, this was actually my worst month on record for paying off debt (only $153 after interest was taken into account). But I’ll take the motivation in terms of how big of a drop-off removing those two loans shows on the chart. 


ICYMI – In Case You Missed It

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

The Starter’s Guide to Managing Your Money

How Podcasts Changed My Life, & 10 That You Should Be Listening To

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.

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. 

  • Cat Alford/ Budget Blonde

    We all have good months and bad months, so it’s ok that you only paid off $153 (after interest). October wasn’t a great month for me either. Here’s hoping that November is better.

    • Thanks Cat – yes, here’s to hoping November kicks butt for both of us!

  • Alaina Tweddale

    I’m sorry to hear about the move but excited for your best month ever. I love Hal Elrod’s Miracle Morning. Here’s to a great November.

  • [email protected] One More Year

    The good news is that you continue to focus on your debt elimination goals and you have made amazing progress! There are months where it is entirely possible to go backwards. No reason to let up.
    Can you imagine what your debt would be like today had you not awakened to the idea of becoming debt free?

    • Ahh, good point – my debt would be hovering right around $60k right now. That was a helluva great motivational exercise! Thanks Bryan! 🙂

  • Life throws wrenches at us all the time but seems like you’re going strong even with having to deal with moving out!