Debt Updates

I started my debt journey in 2015. Seven years later, I’m still at it. For me, this is a journey, not a sprint. I’ve had a lot of ups and downs during this journey. Below are some of my debt updates.

January 2015

I’m happy to be able to write this post finally. I’m excited and ready to get the ball rolling. Today is the day that I finally started the debt repayment plan back up. It has been over a year since my last debt update. It’s time to get this thing rolling, seriously. Let’s get to the January 2015 debt update.

At this moment, I currently have over $72,000 worth of debt. That’s a lot of freaking money. You may be wondering how it got that high. I didn’t take out the maximum amount of student loans or go crazy with credit cards. My biggest problem was interest and late fees, specifically my student loans. I seriously didn’t take the loans during my first couple of years out of college. With interest and late fees, the loan amounts have increased significantly. One day I realized I couldn’t have more debt for me to start making actual moves in life.

If you’ve read my previous posts, you’ll remember where I said I still plan to have some sort of life while I’m paying off these loans. I still feel that way. I will use principles from Dave Ramsey’s Total Money Makeover and T. Harv Eker’s Secrets of The Millionaire Mind. I will pay off my debt from smallest to largest using the debt snowball effect. Here is a post explaining what the debt snowball. As I stated above, I plan to have a life still. I won’t be wasting much money. I will cook and be home a lot more. The one thing that I won’t stop doing is traveling, though. It’s my addiction. I only travel 3-4 times per year anyway.

How do I plan to make this happen?

The first thing I plan on doing is going back on The Price is Right (Just kidding). I plan to continue to create multiple streams of income.  I have a full-time 9-5 job. I am looking for a part-time gig to work a couple of days each week. I am selling multiple items on eBay. I am also looking to make more money online. Finally, I will continue to sell t-shirts at my NomadTees big cartel store.

Some people think I’m crazy. I’ve heard people say forget them loans and just wait for them to be forgiven in 10 years since I worked in higher ed. Forget that. That’s not an option; I plan on being debt-free before then.

I want to make this happen by October 17th, 2018. That is three years and nine months from today. That will also be my 35th birthday. Having no more student loan debt will be a hell of a birthday gift.

The debts that I will be eliminating are my Sallie Mae student loans, Discover credit card, Loan 2, Wells Fargo loan, Bank of America credit card, Credit Union Loan, and Fed student loans.  (Note. The Fed loans are currently in deferment. I still plan on putting $50-$100 and $10-$20 on them each month.) Below is a chart of the debt.

February 2015

My total debt went from $72,703.05 to $72,194.17, a decrease of $508.88. That was good for this being the 1st month. I plan on going harder next month.  I am happy to see the debt plan working. Here are the breakdowns:

Loan 2 – Down from $6035 to $6000

CU Loan – Down from $477.59 to $465.58

Wells Fargo Loan – Down from $1543.56 to $1497.41

Discover Card – Down from $251.34 to $163.28

Bank of America Card – Down from $3387.71 to $3353.72

Navient (Formerly Sallie Mae) – Down from $26,504.34 to $26,151.12

Nelnet (Formerly Direct loans)- Up from $34,503.51 to $34,563.06 (This is the only increase. That is because the loan company is still charging interest even though it’s deferred. I don’t have to make a payment, but I am still applying at least $10 per month on this loan because of the said interest.)

March 2015

My total debt went down from $72,194.17 to $71,953.81. That was a $240.36 decrease. Last month’s decrease was much bigger. I’m not worried, though. Here are the breakdowns:

Loan 2 – Down from $6000 to $5990

CU Loan – Down from $465.58 to $451.49

Wells Fargo Loan – Down from $1497.41 to $1451.14

Discover  Card – Down from $163.28 to $101.65

Bank of America Card – Down from $3353.72 to $3319.10

Navient (Formerly Sallie Mae) – Down from $26,151.12 to $26,051.29

Nelnet – UP from 34,563.06 to $34,589.14

April 2015

My total debt went down from $71,953.81 to $71,718.63. It decreased by $235.18. That’s $5 less than last month. I know that May’s update will be much better. By then, I will have had a couple of paychecks from the part-time gig. Most of that money will be going to debt.

Loan 2 – Down from $5990 to $5980

CU Loan – Down from $451.49 to $441.38

Wells Fargo Loan – Down from $1451.14 to $1402.02

Discover Card – Down from $101.65 to $36.44

Bank of America Credit Card – Down from $3319.10 to $3282.42

Navient (Formerly Sallie Mae) – Down from $26,051.29 to $25,953.34

Nelnet – UP from $34,589.14 to $34,623.05

December 2015

1st off, you may notice that I PAID OFF MY CREDIT UNION LOAN & My Discover Card!!!! It’s about damn time. I made my last payment on this loan at the beginning of the month. I was happy for a day and got right back to work on the other debts. My Wells Fargo loan is now my smallest debt. Since I’m doing the debt snowball, that payment will now be higher. I plan to have it paid off before next summer is over.

My total debt also went from $71,718.63 to $69,919.18. I’m also happy that my debt is below $70,000 for the 1st time in nearly four years.

Loan 2 – DOWN from $5990 to $5900

Wells Fargo Loan – DOWN from $1402.02 to $983.02

BOA Credit Card – DOWN from $3282.42 to $2999.94

Navient – DOWN from $25,953.34 to $25,144.59

Nelnet – UP from $34,623.05 to $34,891.63


My total debt went from $69,919.18 to $66,495.50. It decreased by $3423.68.

Loan 2 – Down from $5900 to $5769

Chase – $1720

Navient – Down from $25,144.59 to $24,150.20

Nelnet – Down from $34,891.63 to $34,856.30

Earlier in the year, I did a balance transfer. That’s why you see a Chase card on there. There is also one less debt on here. The Bank of America credit card is GONE! Hell yes!!!! I had that card for damn near ten years. It’s a thing of the past now. I also  The debt snowball is really working. If you’re working on eliminating your debt, you should try it.


My total debt went from $66,495.50 to $61,428.64. That’s a drop of $5,066.86.

BOA –  $1200

Loan 2 – Down from $5769 to $2340

Navient – Down from $24,150.20 to $23,093.39

Nelnet – Down from $34,856.30 to $34,795.25


In 2018, my debt went from $61,428 to $66,300.50. It went up by $4871.95. In that year, I had to get a new vehicle, so I had to pay a car note again. I also refinance my private student loan. I left Navient and went to Earnest. Below are the numbers.

Bank of America – Up from $1200 to $1334.37

Cat Note – $7852.93

Earnest – $23,330.17

Nelnet – Down from $34,795.25 to $34,783.12


My debt went from $66,300.59 to $63,824.55. That’s a drop of $2476.05

Discover Card – $1781

Car Note ⬇️ from $7852.93 to $6203.60

Earnest ⬇️ from $23,330.17 to $21,595.22

Nelnet ⬇️ from $34,783.12 to $34,244.73


My total debt went from $63,824.55 to $52,899.36. That was a drop of $10,925.19. That was my best debt decrease so far. I also eliminated my credit card debt.

Car Note ⬇️ from $6203.60 to $1457.70

Earnest ⬇️ from $21,592.22 to $20,499.66

Nelnet ⬇️ from $34,244.73 to $30,942


My total debt went from $52,899.36 to $42,428.49. That was a drop of $10,470.87. It was another year of my debt going down by $10K or more. I also paid off my car note in February.

Earnest ⬇️ from $20,499.66 to $14,636.49

Nelnet ⬇️ from $30,942 to $27,792