Happy One Year Blogiversary to me!
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.
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)
$ 6,161$6,122 (down $39 since last month, an overall decrease of $1038 in the past 12 months)
$10,726$10,725 (down $1 since last month, an overall decrease of $475 in 12 months)
$17,429$17,433 (up $4 since last month, an overall decrease of $807 in 12 months)
$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!