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Debt Update – From the Beginning until Now


I began blogging here on March 26, 2014, you can read my very first post HERE. This table shows my debt as it stood that day…

Creditors Amt Owed Total Interest Pymts Left Payoff Date Interest Rate
Retail Card #1 413.00 1 Apr-14 0%
Property Tax 700.00 2 May-14 0%
Loan from Dad 3,830.00 6 Sep-14 0%
Credit Card 4,974.00 440.68 10 Jan-15 13.9%
Retail Card #2 2,264.80 499.76 12 Mar-15 25.99%
Car Payment 31,138.00 2,800.77 25 Apr-16 6.79%
Line of Credit 1,248.00 58.25 6 Sep-14 15.95%
Student Loan 31,687.00 2,622.91 42 Sep-17 2.88%

And my debt total those long 5 years ago was $78,518

And as of today, my current debt load is $35,598.

For a total paid off: $42,920 in the last 5 years! (Not too shabby for a single mom of 4, with almost two years of unemployment in there.) And I’m not done yet!


(as of 10/14/17)
Min. Payment
Student Loans$34,3232.88%$306
Credit Card$1,27517.00%$32

My story has definitely not been a straight line. I have added too and removed debt several times along the way. But the good news, knock on wood, is that I am down to only two debts! And I am pretty close to being at a $0 balance with my credit card.

I will be working on a new budget for the fall this coming week. And will publish that when complete. Princess schooling has been paid for, and yes, I will share how that happened as well this week. I am still pondering the car situation. Sea Cadet is out of town this week with his car. He will return for his last two weeks at home before heading out and we will finalize the legalities of whatever is decided then. I will keep you posted.


  • Reply Cwaltz |

    I’m looking forward to seeing the shiny ,new budget. Fingers crossed that you can still meet your goal of ridding yourself of the card by year end and then just having the student loan.

  • Reply Kili |

    Hi Hope,
    Great that things have been moving forward.
    Good luck on the future journey.

  • Reply Den |

    Wonderful – what great progress! Especially since life happened during those years too! Can’t wait until that update is at $0!!!

  • Reply Angie |

    Curious as to what your plans will be once you’re down to just the student loan (hopefully in a a month or two!). Will you switch from debt repayment to emergency and retirement savings?

  • Reply Jen From Boston |

    It’s been a while since I’ve peeked in here, so I must say I am impressed with your progress! Being able to average $8584 debt re-payment while a single mom of 4 is excellent work πŸ™‚

So, what do you think ?