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!
Student Loan @ 3.0% interest – $32,846.04 (-$426.65)
My total debt is now at $32,846.04 – if you’ve been reading for a while, you might recognize that this means I’ve paid off over $30k of debt! <—–Woahhh….
You might also remember that I set a stretch goal of earning two months of rent online during November. I’m happy to say I was able to get about halfway there. I made about $840 this month online by helping to build websites for people and a small portion through the blog itself.
I think that setting such a large goal made me really work towards it. Although I didn’t quite reach the level I wanted to, setting my sights higher than I thought was possible allowed me to reach farther than I would have otherwise.
My motto lately has been to “think bigger” and I think it’s helping- so I’m going to try again this month. Maybe I’ll get there, maybe I won’t – it doesn’t matter, because I’ll be pushing myself past what I used to think was possible. 🙂
So that’s all fine and dandy, but I bet you’re wondering where that money went, considering I only paid off around $400 worth of debt. Most of it was moving expenses I had put on my credit card (I know, I know). I still have some left over on the credit card, but none of it is accruing interest because I had made sure to pay off the previous balance in full. Which I need to make sure I do again this month – but I know I’ll have enough to do so.
Progress Since the Beginning
I’ve paid off over $30,000….I still can’t believe it. But I’m not even half-way there, so I need to keep pushing 🙂
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.