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!
Each month I am going to create a new post updating the totals and showing what payments I make during that time. So here goes, and please don’t be too harsh. 🙂
- 6.5% interest Student Loan – deferred – $6472.26
- 4.5% interest Student Loan – $5438.73
- 3.0% interest Student Loan – $38,594.24
- 2.99% interest Car Loan – $4449.13
- 0% interest Sears Loan – $1613.75
- 0% interest Lowes Loan – $349.97
- 0% interest Furniture Loan- $6067.28
That means my total debt is $62,985.36. Pretty staggering when it’s put into perspective like that, huh? It feels good to put it out there though. No more hiding behind my credit cards, it’s time to get this all paid off.
My goal is to be out of debt by my 30th birthday, which would be September of 2017. That’s 42 months from now. It seems so far away, but I know it is going to creep up really fast. Time flies when you’re having fun, right? Haha, something tells me this isn’t going to be as much fun as I’d hope.
Yet, once I’m out of payments to pay, I think it will have all been worth it. Time to buckle down and get started. Who’s with me?!
Creating a debt report was pivotal in me getting started. That’s why I created a template to help you do the same. Want to make your own debt report? Download my free template to create your own Debt Report.