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 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 – $33,426.01 (-$503.24)
Sears Loan @ 0% interest – $659.75 (-$53.00)
Furniture Loan @ 0% interest – $3,685.70 (-$132.31)
That means that this month I paid off $688.55 & my total debt is now below $40k, at $37,771.46!
Total Debt Paid off: $25,214
Happenings This month was not as spectacular as last month in terms of debt payoff. A few things happened in September that had some effect on my debt repayment:
- I went to the Financial Blogger’s Conference last month. This is a conference where personal finance bloggers/podcasters and other online business junkies come together and share their best insights and combine nerdy wisdom. Basically, it was awesome. I got to meet a lot of great people in person that I’ve been talking to online for a while now.
- I turned 28 on last month, so I went out and celebrated a little bit. Didn’t spend much money, but did have a good time! 🙂
- Search Marketing Expo East (SMX East) – This is a conference I went to for work. It’s focused on search engine marketing and again, had a lot of awesome nerds in attendance 🙂 As you can see, I didn’t have as much time this month as I would have liked to dedicate towards personal finance.
Progress Since the Beginning
I have officially paid off 40% so far…..WOW.
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
Why the Mall Makes Me Sick
How to Stay Out of Debt
39 Financial Gurus Share Their Worst Money Mistakes
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.