The year has come to an end and I am pleased with our progress so far this year. Since we came out in July and totaled our debt, we have paid off approximately $7,200. Not too shabby. We are also proud to announce that we did not add any more debt during that time. We didn’t use a credit card, etc.
Now, onto our debt payments in December. We were able to pay off about $1,380! We feel that is a great total for a month were we saved all cash for Christmas and paid our six month car insurance payment.
Also during December, I was away for three weeks in Philadelphia for business. I paid some expenses out-of-pocket during that trip and have yet to be reimbursed. All of the reimbursements I receive in January will go straight towards our debt. It should be approximately $700. With that additional money and our debt snowball from January, we should have all of the personal loan gone by the end of the month. Here are our end of December numbers:
I have also created a page called “Our Debt” where you can check in on our progress more frequently. There is a graph (that looks a little wimpy right now) so you can have a more visual look at our debt progress.
My wife and I would also like to wish you a Happy New Year! We hope the new year brings you much joy and happiness. We will be sharing our financial resolutions with you on Wednesday.
Adam,
Great job, keep up the good work.
Thanks,
Shaun
Congratulations on your progress. Happy New Year to both of you!
Happy New Year Adam.
Great to see your progress. I got on the first steps towards my pending debt management plan today! Scary stuff
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adam,
good job. good luck with the personal loan next month. from experience, as the debts start to fall away one by one, you will have such a changed outlook on life. well done.
Way to go Adam keep killing it!
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CONGRATS ! to you and your wife on this accomplishment.I enjoyed when you gave details like “paid for some business/travel expenses out of pocket will be reimbursed in January which will be applied.I enjoy the mental process, your planning on how to attack which my give me an idea how to do something similiar in my own life.Thanks!
Thanks for the comments everyone!
Nice work Adam! That’s a good amount of debt to pay off.
I’d focus on paying off the Bank of Mom & Dad, esp if you are getting close to 30. Our parents have helped us enough, time for us to give back to them instead of taking from them.
Best,
Sam
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That’s awesome Adam! It always feels great to write about big strides like putting out an extra 1300 worth of debt. Looks like you are well on your way to powering your debt snowball and making good progress I might add. From our experience on our end, that awesome feeling will just get even better as you go along, the more debts you get paid off, the bigger the payment checks get.
It’s hard being apart from the other half. For 2+ years she lived in Dallas and I in Canada… it seemed like forever then… now it’s just a memory.
Keep up the good work!
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Awesome job! Keep up the good work!
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