Debt Update: Another One Bites the Dust!

March was another good month for us in terms of debt reduction. We were able to pay off the personal loan and send some more money to our family member loan. In all, we paid off $2,139.82 in March. Not too bad at all!

This is the month I start my new job and where we really start attacking out debt. We will not longer have higher grocery bills, two rent payments, etc. My salary is also going to increase this month!

With all of those factors considered, I am anticipating our debt snowball (amount over the minimum payments) to average about $1,500 a month. That should help us get that family loan done in less than 1 year. We can’t wait!

Here is our updated debt spreadsheet:

14 thoughts on “Debt Update: Another One Bites the Dust!

  1. bhleigh

    Congrats on paying off the loan! March was a good month for me too! Keep up the good work and looking forward to seeing that family loan paid off later this year.
    .-= bhleigh´s lastest post ..Refocus Your Goals =-.

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      1. Sherry

        I just looked back at your spreadsheet “shot”…got panicked..thought what kind of interest is that 100%???? Duh….didn’t read the top i.e. % paid!! Was thinking the 20% on the car loans was really steep!

        Sherry

  3. Cece

    We’ve been where you are and are proud of you for the wonderful progress you are making! You watch — money show up unexpectedly and you’ll have that family loan paid off much, much sooner than you expect! All this work is SO WORTH IT!

    Congratulations!

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  5. Ken

    I’ve only read two entries on your site so I guess I missed the reasoning….but why in the world would you pay off a 0% APR rate before ones that charge interest?

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