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Credit Card Debt Chart

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Hi all, Happy Friday!

I submitted my final grades yesterday, today is our department’s holiday party, and next week I’ve got two totally open days on my schedule that I can use to catch up on some academic writing, household chores, holiday prep, etc. It’s always a fun time of year when classes end and it feels like the “real work” begins. Oh, academia. 🙂

Since, as you saw on my last post, I’m basically starting over with our credit card debt, I wanted to do something to help it stay really visual and to keep me motivated.

I’ve made homemade debt thermometers in the past (see here or here), but I wanted to try something a little different this time.

And somehow in my searching of the interwebs, I came across these totally nifty little debt trackers! Best part, it was totally free on the website (linked here), along with several other options (e.g., student loan, mortgage, debt free, etc.)

I just sat down today to actually fill in the numbers on the lines and discovered that there were exactly 25 long lines. Well whatdoyaknow? My current CC debt stands at $25,500 (see here). Coincidence that the lines match up exactly with our actual debt numbers? Who knows, but it was certainly motivating!

Admittedly, we’ve got a long way to go. We’ve re-dug this huge hole and feel like we’re at a start-over point. Instead of bringing our entire debt load into the picture, we’re really just going to focus on the credit cards for the time being. It will take some time, but we’re determined to get it done all over again.

Editors note: if you’re looking for more debt tracking worksheets, consider getting Lauren Bowling’s free debt tracking template.

What debt are you currently focused on eradicating?

Hope’s December Debt Update

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It is time for another debt update. But I’m really excited about the one to come in January. You will notice that other than eliminating my Amazon debt, very little has changed in my debt load since my last update. Per my Plan #1, my goal is to pay off the computers by the end of the year. I’ve been paying the very minimum required on all debts in order to meet that goal. I’m still on track but it is going to be VERY, VERY close.

Creditor
Balance

(as of 10/14/17)
Interest
Min. Payment
Car$9,3147.00%$308
Credit Card$4,47517.00%$36
Summer Camp (2018)$3,3750.00%$0
Student Loans$34,3492.88%$307
Computer Equipment$2,71322.90%$84
Taxes (State)$5,8000.00%$100
Self Lender$97010.57%$97
Collections 1 (Medical)$618
Collections 2 (Apartment)$499
Collections 3 (Ex-husband)$6,2606.25%$246
Amazon$026.99%$0
Total$66,273$1,178

Meeting My Deadline for Plan #1

To make it happen, I have stopped paying on the kids’ summer camp. We’ve also continued to mostly eat through out pantry which means other than canned veggies we are down to almost nothing in our kitchen.  The kids are not too thrilled with me right now.

empty pantry
Today I will surprise them by restocking our kitchen in preparation for Christmas. They are going to be thrilled. We’ve had a white board going with a grocery list of all their wants and needs.  I’m hoping I can get everything for right at $150. And if we can make it to the end of the year with those groceries…that will be $200 spent this month on groceries and an extra $400 towards my end of year goal.

We won’t be able to do this again because we really have cleaned the pantry shelves, but it is has really helped this fall with paying off some debt and getting ahead on other things.

Next Steps, New Year

I will review my overall financial plan after the new year. I’ve had some more changes on the job front, but I’m not ready to publish them.  I’ll have a better idea after January on how my income is going to look.

It’s stressful, but I’m making good headway in picking up odd jobs and at least part time stand alone clients.