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Review of Debt Since 2016

November 27th, 2017 at 05:30 pm

Here is a perspective on what my balances were a year ago and today.


MORTGAGE:
NOV 2016 = 86,735.14
NOV 2017 = 84,213.18

STUDENT LOAN
NOV 2016 = 17,764.25
NOV 2017 = 15,990.72

CC1
NOV 2016 = 13,928.46
NOV 2017 = 11,564.48

CC2
*** NOT TRACKED IN 2016
NOV 2017 = 8,315.19


Goals for 2018 to bring CC2 to zero. CC1 down to $6,000.

6 Responses to “Review of Debt Since 2016”

  1. Out of the Dark Says:

    Excellent goals. I am rooting for ya!

  2. PatientSaver Says:

    What is your strategy for reaching your 2018 goal?

  3. Trying to get ahead Says:

    Patient Saver: I have some strategies - found money, snowflakes, tax refund, selling some items, etc.

    Out of the Dark: Thanks! I may not meet the goals 100% but it wont be from lack of trying.

  4. PatientSaver Says:

    You will need to be fairly aggressive in your debt paydown. So your goal, if my math is right, is to pay down close to $14,000 in 2018, plus your savings goal is $3,000.

    Are you expecting any kind of pay raise this year? You might want to commit to funneling that toward your credit card debt. That could go a long way. Even a p/t job, if you aren't already working, could really help you reach your goals.

  5. Trying to get ahead Says:

    I've been expecting a pay raise for the last 10 years. We are supposed to get one next year. I also have a side-gig that right now is funding my husband's unemployment (so it has become a full-time gig for him). Like I said, I may not meet 100% but I'm certainly going to put a major dent.

  6. rob62521 Says:

    Great goals and it is super seeing the balances go down!

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