One Year!

Happy One Year Blogiversary to me!

Image courtesy of Stuart Miles / FreeDigitalPhotos.net

Image courtesy of Stuart Miles / FreeDigitalPhotos.net

One year ago today I started blogging about getting out of debt!  Despite being jobless at the time, I was determined to make some progress and no longer felt the need to hide behind my debt.

Let’s see where I stand after twelve months!

Original Debt (December 14, 2012): $102,645

Current Debt (12 months later): $97,421

My debt has decreased by $808 since last month, an overall reduction of $5,224 in 12 months.  I’m now at 5.1% of my debt payoff goal.

I’m not going to take the time to calculate how much has gone towards interest in the past year, but it’s A LOT.  Probably close to what has been paid off, if not more.  It makes me sick to think about it.  Ugh.  I hate interest.

DEBT BREAKDOWN

Federal Student Loans $57,385 $57,468 (up $83 since last month, an overall $1,568 increase over 12 months)

Private Student Loans $38,166 $38,135 (down $31 since last month, an overall decrease of $2,486 in 12 months)

  • StudentLoan#1: $6,161 $6,122 (down $39 since last month, an overall decrease of $1038 in the past 12 months)
  • StudentLoan#2: $10,726 $10,725 (down $1 since last month, an overall decrease of $475 in 12 months)
  • StudentLoan#3: $17,429 $17,433 (up $4 since last month, an overall decrease of $807 in 12 months)
  • StudentLoan#4: $3,850 $3,855 (up $5 since last month, an overall decrease of $166 in 12 months)

US Bank Credit Card $1,891 $1,818 (down $73 since last month, down $2,839 in 12 months)

Capital One Credit Card $234 $0! (down $234 since last month)

BOA Credit Card $553 $0! (down $553 since last month, $1,470 in 12 months)

Check out the double $0 balances!  I threw my paychecks at the BOA credit card because I just wanted that gone!  I cancelled this card more than a year ago when they decided they wanted to start charging an annual fee.  So long BOA!  I was so eager to make my last payment that I accidentally selected the wrong checking account to pay from and got charged $36 for an overdraft.  Oops!

I now carry only one credit card with a balance and I think I’ll focus on getting that bugger paid off. Hopefully I can knock that down to zero by February, if not sooner (when I win the mega millions).

My progress may not seem like much compared to some of the debt bloggers out there, but considering I was unemployed until just a few months ago, I can be proud of what I’ve accomplished.  I am so thankful for all the help and support I’ve received from my dad and co-signer, and also from my friends, family, bosses, and my readers.  Thank you!

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18 thoughts on “One Year!

  1. Happy one year blogiversary! You’ve done a lot in a year and your situation has improved so much. I’m really happy that our lives are so different from when we first started our blogs. Congrats on your debt repayment. I hate interest too. I nearly had a meltdown earlier when I saw $400 went to interest this month. That’s my rent!! It’s so frustrating and upsetting. I could handle the amount if it weren’t for the interest. The interest just sets you back so far. Let’s keep each other going!

    • The interest is so frustrating! I will never understand they have to make so much profit from our mistakes! Thanks! I love the support, definitely keeps me going! 🙂 Gotta keep on keepin’ on!

  2. Your story and that of the others is the reason why I love being part of this. The exchange of thoughts, ideas and stories inspire me that attaining a debt-free life and financial freedom is achievable. Congratulations for all that you have achieved so far and I am sure you will continue to be good at it and I would love to see the day you’d say, “Yes, I did it!”

  3. One year of blogging is something to proud of.. I have seen more bloggers than I can count who have fizzled out far before that, and you are still going strong and bring the heat.

    One year closer to being debt free is EVEN MORE of something to be proud of! Nice work.

  4. It isn’t to late to call your bank and see if they will refund your over draft fee! For my bank at least if I fix the over draft right away and explain to them why the overdraft was a mistake they are happy to fix it!

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