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May 2015 Debt Update

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May 2015 debt update

It’s time for my monthly debt update post. I paid off my discover card last month. I started this journey with over $72,000 worth of debt. I intend to have the debt paid off by October 2018. I plan on doing that by making extra money with this website, selling t-shirts and selling items on eBay. Below is the May 2015 debt update.

May 2015 Debt Update

My total debt went from $71,718.63 to $71,514.63. It decreased by $204. It seemed like it was more, but most of this debt accrues interest. I’m not worried. I am making strides and I will keep this momentum going.

Loan 2 – Down from $5980 to $5970

 

Credit Union Loan – Down from $441.38 to $430.82

 

Wells Fargo Loan – Down from $1402.02 to $1350.77

 

Bank of America Credit Card – Down from $3282.42 to $3250.24

 

Navient Student Loans – Down from $25, 953.34 to $25857.26

 

Nelnet Loans – UP from $34,623.05 to $34,655.54

I am happy with my results. My focus now switches to my Credit Union loan. I will add more money to the minimum payment as well as apply anything extra to it. I am ready for this loan to be a memory very soon. Check out my previous debt repayment posts:

February 2015 Debt Update

March 2015 Debt Update 

April 2015 Debt Update

To see my other debt updates, go here.

How is your debt repayment coming along?

3 Comments

  1. Nicely done again this month! My debt repayment hit a small bump in the road because of a car accident, but I was still able to make good progress this month.

    1. Sorry to hear about your car accident. I’m glad to still hear that you were able to make progress.

  2. Any progress is good progress! Congrats on moving in the right direction. I should really start tracking our student loan paydown each month but it’s a bit painful when we are in grad school and still have to take out some loans…meaning it’s not always going down!

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