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?
