My Wins and Losses in June
Hello! If you’re new to my blog, I write a detailed report every 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. 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.
Creating a debt report was pivotal in me getting started. Want to make your own debt report? Download my free template to create your own Debt Report. Thanks for showing up here to check out my wins – and losses. Here goes!
Current Debt Breakdown
Student Loan @ 6.5% interest – $6,312.26 (-$80.00)
Student Loan @ 4.5% interest – $2,514.85 (-$2,358.66)
Student Loan @ 3.0% interest – $38,227.98 (-$124.50)
Car Loan @ 2.99% interest – $3907.55 (-$181.62)
Sears Loan @ 0% interest – $1454.75 (-$53.00)
Furniture Loan @ 0% interest – $ 5670.35 (-$132.31)
At the end of June my total debt was $58,087.74, down a total of $2,930.09 from the previous month!
I got my tuition reimbursement check from the previous semester and that allowed me to be able to put almost $2,000 extra towards my 4.5% interest loan this month. That means I only have about $2,500 to go until I pay off my next highest loan.
That is definitely motivation for me to keep pushing forward and pay off more debt. My debt total is now under $60k for the first time!
I love being able to see this progress and be able to share it with you all. There is still a long road ahead but wins like this make the journey a little more bearable. Would you have put that extra money towards the same loan? I’d love to hear your opinion!
Creating a debt report was pivotal in me getting started. Want to make your own debt report?
Download the free template to create your own Debt Report.