May 2016 Debt Payoff Report

Debt Payoff Report

After a month hiatus on these monthly payoff reports, I have finally come around to putting together the report for the month of May. A little more progress has been made these past 2 months in comparison to the beginning of this year. I feel like I’m finally getting back on track from all of the unexpected expenses I encountered.

Cutting down on the budget can be pretty difficult and one major area I’ve been having trouble with is FOOD. I’m not a very good cook and lack creativity in the kitchen so I’m not doing very good cutting expenses in this area. I think what I need to do is put together a very simple meal plan that I can follow. I’ve noticed that the times I end up spending too much money on food is when I get home from tired from work and don’t have any groceries or food. This means I end up eating out constantly which can really start to add up. I have also been reading other inspiration stories of 20-year-olds paying down massive amounts of debt by working 2-3 side jobs in addition to their full-time job and I’m thinking of doing something similar.

See a breakdown of my debt payoff report for the month of May below:

Debt Payoff Report May

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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