December 2016 Debt Payoff Report + 2016 Financial Recap

Debt Payoff Report

I’m a little late (…ok really late) posting my December Debt Payoff report.  Better late than never right? Like I mentioned in my previous post, I spent a good amount of time in December changing my blog name and setting up the new domain. I was also busy doing all my Christmas shopping and feel like I’ve just now started getting back into my routine.

Now onto the debt payoff details…

Despite all the holiday shopping, I made a good amount of progress on my debt payoff this month. Part of that was due to the fact that I received a generous Christmas bonus and put about 90% of that towards my Wells Fargo credit card. I CANNOT wait to be done with my credit card debt. Out of all the debts I have, these are the ones that make me cringe every time I make a payment. A large part of the reason is because I can’t even remember what I purchased with that money.

Here is a breakdown of the progress I made on my individual debts. I also forgot to mention that I hit a big milestone this month. I am now over 50% paid off on my original debt amount!

 

Debt Payoff Report

2016 Financial Recap

Since this is the last debt payoff report of 2016, I wanted to do a recap on the progress I made this year. In 2016, I reduced my debt amount by:

$9,901.18

Looking at the progress I’ve made lately I feel like I could’ve done better. These last few months I’ve consistently paid off more than $1,000 a month and hope to continue that trend into 2017. Wish me luck!

 

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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  • Wow great job. Some progress is better than none. Once you get your momentum things will go super fast!!! Your site inspired me to start mines. Keep up the good work!!!

    • Thanks! Yes, I’ve slowly started to see my momentum increase.
      I’m glad my site inspired you to start yours. Since I’ve started documenting my payoff journey, I feel like i’ve been more committed and consistent with paying off my debt.