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November 2016 Debt Payoff Report

December 10, 2016

Debt Payoff Report

I’m really happy with the progress I’ve made this past month. I was able to pay over $1,000 in November and also knocked out another student loan! Woohoo! From the 10 loans at the start of my journey, I am down to 6.  Now it’s on to attack my current smallest debt which is my dreaded Wells Fargo credit card. Did you know in 2016 the average household credit card debt was $5,700! That is close to the amount I have on my credit cards. Ugh the interest on these things.  I feel pretty bitter paying this off because I can’t even remember what items I charged on it. It was just small purchases that…next thing you know, add up to thousands of dollars. But.. I have learned my lesson and no longer have any credit cards in my wallet. If I don’t have cash for it, it can wait. Seeing how much money goes to interest alone makes getting rid of credit cards easy.  Cannot wait to be done with this one!

Below I have broken down October’s debt amounts and the progress I’ve made in November. Working that extra weekend side hustle in October really helped knock out my Navient loan this month. Now onto figure out how to make more side income.

 

debt-payoff-nov-2016

 

Goals Update

At the end of October’s Debt Payoff post, I talked about a couple of goals I had the month of November. Here’s an update on those goals:

1. Pay down my debt by another $1k    SUCCESS!! As you can see on my debt payoff chart above, I was able to pay off another $1,200 towards my debt. I will continue this goal into the month of December. I am hoping that with a Christmas bonus I will be able to hit my $1,000 mark once again.

2. Buy all of my Christmas presents by the end of November.  FAIL!  So this was a complete fail. As soon as I was engaged I got distracted with figuring out wedding details and planning which took some of my Christmas shopping time away. I am still doing some shopping today, 10 days into December. Oh well, I guess I’m going to have to start in October next year.

 

How about you? Are you done with your Christmas shopping? What is your gift buying plan when Christmas time rolls around?

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