December 2015 Debt Update

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December 2015 Debt UpdateGreetings everyone. This is my last debt update of the year. I’ve been actively making payments on my debt since January of this year. I plan on paying it off no later than October 17th, 2018. That will be my 35th birthday. I will pay it off using multiple streams of income. Let’s check out the latest updates.

December 2015 Debt Update

1st off, you may notice that I PAID OFF MY CREDIT UNION LOAN!!!! 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. My plans are to have it paid off before next summer is over.

My total debt also went from $70,207.71 to $69,919.18. That was a drop of $288.53. I’m getting close to seeing it drop down by $300 each month. I’m also happy that my debt is below $70,000 for the 1st time in nearly 4 years.

Loan 2 – DOWN from $5910 to $5900


Wells Fargo Loan – DOWN from $1030.75 to $983.02


BOA Credit Card – DOWN from $3046.90 to $2999.94


Navient – DOWN from $25,258.94 to $25,144.59


Nelnet – UP from $34,869.05 to $34,891.63

If this is your 1st time checking my debt updates you may be wondering why the Nelnet loans are increasing. I still have them in deferment, but I make at least a $10 payment on them each month. I will start paying more on them in January or February.

Previous Debt Updates:

January 2015 Debt Update (The Beginning)

September 2015 Debt Update

October 2015 Debt Update

November 2015 Debt Update

You can view all my debt updates here.

How has your debt repayment plan been going?



  1. Congrats on your progress.

    We’re not in actual debt (other than the mortgage), but we are sort of prepaying debt. There’s a $25k oral surgery bill coming up in 2016, so we’ve been saving a bunch. But it’s all going away soon enough.

    It’ll be a relief to be done with it, much like paying off debt.

  2. Congrats on getting under $70k! I bet it’s nice to see your debt consistently go down each month.

    1. Thanks DC. It’s a great feeling. I’m ready for it to be at $0 though.

  3. Congrats on paying off your loan!

  4. Great job! I love seeing the progress. What are your various income streams?

    1. Hello Janet. I sell items on eBay, sell t-shirts and also freelance.

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