11 Month Progress Update

11month

Yikes!  I can’t believe I started this blog 11 months ago!

Original Debt (beginning mid December 2012): $102,645

Current Debt (11 months later): $98,229

My debt has decreased by $79 since last month, an overall reduction of $4,416 in 11 months.  I’m now at 4.3% of my debt payoff goal.

While I don’t feel like I made significant progress this month (so much interest) I really hope to kick the debt payoff into high gear now that I have two jobs and one of them is picking up more hours.

DEBT BREAKDOWN

Federal Student Loans $57,244 $57,385 (up $141 since last month, an overall $1,485 increase over 11 months)

Private Student Loans $38,309 $38,166 (down $143 since last month, an overall decrease of $2,455 in 11 months)

  • StudentLoan#1: $6,208 $6,161 (down $47 since last month, an overall decrease of $999 in the past 11 months)
  • StudentLoan#2: $10,757 $10,726 (down $31 since last month, an overall decrease of $474 in 11 months)
  • StudentLoan#3: $17,479 $17,429 (down $50 since last month, an overall decrease of $811 in 11 months)
  • StudentLoan#4: $3,865 $3,850 (down $15 since last month, an overall decrease of $171 in 11 months)

US Bank Credit Card $2,112 $1,891 (down $221 since last month, down $2,766 in 11 months)

Capital One Credit Card $234 (up $234 since last month)

BOA Credit Card $643 $553 (down $90 since last month, $917 in 11 months)

You may have noticed I added another credit card to the list.  I had my Capital One card paid off for some time but I like to use it once in a while to gain reward points so I used it to pay an expensive medical bill.  It’ll be gone by next month again!

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10 thoughts on “11 Month Progress Update

    • Slow and steady indeed. I’m doing all I can to focus on paying down the private loans first while the federal loans are under Income Based Repayment with $0 payments, I hate seeing the interest grow my balance every month but it’s what I have to do, for now.

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