December 2015 Debt Payoff Report

Debt Payoff Report

This month I did not do too well making a dent in my debt. Most of my money went towards buying Christmas gifts and a few unexpected medical expenses that came up. I only managed to lower my debt by $104 instead of the usual $600-$800. I also didn’t really budget my money this month which is why I didn’t put more money towards my debt. I was a bit discouraged when I updated my spreadsheet last night and realized how small my debt decreased this month. It made me realize how important budgeting your money is. This encouraged me to budget my money for the next couple of months. Since I get paid salary and get paid the same amount every paycheck, it is easier for me to plan out my budget months ahead.

Below, you can take a look at the progress I made this past month. You will notice that some of my student loans actually increased due to the accumulated interest.

Debt-Payoff-Report-DEC

Author: Amanda

Amanda graduated architecture school in 2012 with approximately $24k in student loans. Soon after, she financed a car a year later and ended up with a total of $40,000.00 in debt at the end of 2013. After being introduced to the Total Money Makeover book by Dave Ramsey she completely changed her views on personal finance and decided to stop borrowing money and focus on becoming debt free. She is Debt Free as of October 2017.

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