by Ashley
Better late than never, right?
After I realized I’d missed our extra student loan payment, I initiated it on October 1st (a Saturday). It showed “pending” in Navient’s system for several days and didn’t actually show up as being applied until Wednesday. I don’t like posting on Wednesday (I like to leave it for Hope), so here we are with our SEPTEMBER debt update nearly a full week into the month of October. So sorry about the late update!
Check it out:
Place | Current Balance | APR | Last Payment Made | Last Payment Date | Original debt, March 2014 |
---|---|---|---|---|---|
Navient | $63527 | 6.55% | $2225 | September | $74218 |
ACS Student Loans | $8585 | 6.55% | $25 | September | $8215 |
Balance Transfer Student Loan #2 | $5350 | 0% (through April 2017) | $500 | September | $7650 |
Medical Bills | $5711 | 0% | $25 | September | $9000 |
Balance Transfer student loan #1 | $0 | 0% | - | Paid off in March 2016 | $5937 |
PenFed Car Loan | $0 | 2.49% | - | Paid off in January 2016 | $24040 |
License Fees | $0 | 2.5% | - | Paid off in April 2015 | $5808 |
BoA CC | $0 | 7.24% | - | Paid off in June 2014 | $2220 |
Mattress Firm | $0 | 0% | - | Paid off in May 2014 | $1381 |
Wells Fargo CC | $0 | 13.65% | - | Paid off in May 2014 | $7697 |
Capital One CC | $0 | 17.9% | - | Paid off in March 2014 | $413 |
Totals | $83,173 (Aug balance = 85,553) | $2775 | Starting Debt = $145,472 |
Several exciting milestones are coming up:
First, we’re just over $3,000 away from our next $10,000 milestone.
Second, the next digit we’ll be seeing is in the $70,000’s. That’s significant because our half-way mark is just above $72,000. So we’re just a little over $10,000 away from the half-way mark! Everyone keeps saying after we cross that threshold that the debt will just start melting away! It’s felt like a long, hard slog so far the past nearly 3 years of debt-repayment. I’m VERY excited to get over that hump.
Third, do you recall how one of our big 2016 debt goals was to pay $30,000 toward debt this year?? Check out where we now stand in terms of that financial goal:
Month | 2016 GOALS | 2016 |
January | Goal: $3500 | $4013 |
February | Goal: $1000 | $1261 |
March | Goal: $1000 | $2134 |
April | Goal: $2000 | $1521 |
May | Goal: $2000 | $1325 |
June | Goal: $4000 | $3500 |
July | Goal: $4000 | $4928 |
August | Goal: $2500 | $1374 |
September | Goal: $2500 | $2775 |
October | Goal: $2500 | |
November | Goal: $2500 | |
December | Goal: $2500 | |
Total | Goal: $30,000 | $22,8310 |
It’s going to be tight, but we’re right on track to hit that goal. It’s so crazy to think that many families in America are struggling to survive on a total household income of $30,000. Meanwhile, we’ve been blessed with an increased income that has allowed us to put that much toward debt! I mean – whoa! Moment of silence or respect or something. That’s a massive figure!
So much to be thankful for and still so many exciting milestones on the horizon.
Full steam ahead!!!
Do you make annual financial goals? What were yours and how are you doing on them?
Hi, I’m Ashley! Arizonan on paper, Texan at heart. Lover of running, blogging, and all things cheeeeese. Freshly 40, married mother of two, working in academia. Trying to finally (finally!) pay off that ridiculous 6-digit student loan debt!
Congrats on another good month, Ashley!
I make annual financial goals as well. We are out of debt except for our house so we have a goal for how much we’re going to pay towards our house each year. We also have a goal for how much our net worth will increase each year. Some of that depends on the stock market so we still consider the goal met if we contribute everything we intended to and don’t get there because the market didn’t cooperate.
Great job! It’s fun to see the numbers and that your goal of $30K is still attainable with everything you’ve been through this year as well as buying a house. One note- I’m sure it’s in your plans, but you’ll have to eventually pay more than $500 to the balance transfer to pay it off before the end of the promotional period. 6 months will sneak by fast!
Great job. Is Hope still posting?
She has when she has been able. We haven’t personally spoken but I know she’s been battling some pretty intense mental health demons (as she posted about – I’m not sharing private information here), so I suspect her absence is related to that. Either way, I like to “protect” Wednesdays as her day, just-in-case.
Great job! Your debt repayment journey has been so great to follow.
**I second Jay’s comment–Hope doesn’t ever post anymore. Is it time to recruit another blogger who is serious about starting this journey? Started with 5 and now basically down to just Ashley……
Yay you!! Eyes on the prize.
I hope you know what an inspiration you are Ashley. I have had some stumbles in my journey towards debt reduction, and I look at how you deal with your challenges and feel like I can keep on. Thanks for sharing with us and congratulations on another great month of debt slaying 🙂
Thank you for your kind words!
You’re so close to hitting the halfway point! That’s crazy. Your hard word and dedication through the middle months is paying off for sure. Be kind to yourself as all of the changes unfold in the next couple months in the new house. There might be a little money leakage here or there, but so long as you don’t impulsively open a Restoration Hardware credit card and buy All.The.Things, it’ll just be a blip in the radar.
I loved this! Made me LOL! : )