income, total debt, debt snapshot, current debt, debt free, financial freedom, dave ramsey, baby step 2, how to pay off debt, car loan, credit card, student loan, personal loan, career starter loan

Current Debt Summary

We had over $100,000 worth of debt when we realized how unnecessary carrying debt is.  We want to be the owners of the belongings we use and care for, not some random bank.

We keep track of our debt-milestones in many medias; excel spreadsheets, bullet journals, banking apps, and in notebooks scribbled when we randomly have a thought that has to do with the budget (it’s addicting).

Recently we’ve come up with a current total and here it is:

Personal loan –             $6,001.40
Revolving debt –           $7,106.54
Vehicle loans –            $21,923.56
Student loans –           $15,515.83
Total current debt –   $50,547.33

We are more than half way toward being debt free!  Isn’t that amazing?  We had well over 100k  in debt and we’ll be below 50k by the end of August.

Such an amazing milestone! *applause*

The last time we were in only (hear my sarcasm) $50,000 of debt was before we were engaged and we each had about 25k of debt, and that was in 2013!  How exciting is this?!

The snowball is picking up momentum.  The personal loan should be paid off easily by the end of 2017!

Let’s get this.

income, total debt, debt snapshot, current debt, debt free, financial freedom, dave ramsey, baby step 2, how to pay off debt, car loan, credit card, student loan, personal loan, career starter loan
Debt snapshot as of August 10, 2017. We began our early 20’s with over 125k in debt, and we’re on a journey to be debt free by 30!

Published by

Katrina

Hi There! I'm Katrina and I’m married to the love of my life, William. Together we have the two precious little girls Elizabeth and Alodia. I'm so glad you're here!

8 thoughts on “Current Debt Summary”

  1. good luck! I hope you’ll be able to achieve your goal of being debt free by 30. As for me, thankfully I or even my husband does not have any debt. If ever I have a debt, I make sure to pay whenever I have the money because it’s a hassle for me the thoughts of debts.

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  2. That’s a great achievement Katrina. Living under a debt is never a great feeling but sometimes you need some extra money to get things done in life. That being said, if you can mark off your debts in a timely manner then it’s wonderful. 🙂

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  3. i think the only one i will leave is the student loan …it trickles out of my wages so it doesn’t really affect me – so il be happy when I’m 80 and it trickles out :p but well done to you cos thats a huge amount

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  4. Oh well done, that is an amazing amount to have paid off in such a short time. Being debt free is (I think) the best way to live. I don’t have any loans, cards etc and always save up if I want something.

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