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 – $33,929.25 (-$1609.02)
Sears Loan @ 0% interest – $712.75 (-$53.00)
Furniture Loan @ 0% interest – $3,818.01 (-$132.31)
That means that this month I paid off $1,794.33 & my total debt is now below $40k, at $38,460.01!
Total Debt Paid off: $24,525
This month was awesome in terms of putting money towards my debt. I’m very happy with the progress I’ve made so far, and knowing that I will never have debts totaling more than $40k again (as long as I have anything to do with it).
Progress Since the Beginning
I have officially paid off almost 40% so far…..WOW. The real sound of progress?!
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 Market is Down…That Doesn’t Matter Stay the Course
5 Small, Yet Meaningful Changes to Improve Your Financial Well-Being
Is Your Responsibility Over After Paying Off Debt?
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.