May 2016 Debt Update

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May 2016 debt updateWhat’s going on everyone? Memorial Day Weekend is here. Before you go out of town or start partying, I want to share with you my May 2016 debt update.

My debt went from $68,887.38 to $68,342.92. That was a decrease of $544.46. That is the most that the debt has gone down in one month. I received a $250 boost from winning the LendEDU student loan payment contest that I briefly discussed in my April update. Let’s check out the current numbers in detail.

May 2016 Debt Update

Loan 2 – Down from $5860 to $5850

Wells Fargo – Down from $519.11 to $99.35

Bank of America CC – Down from $920 to $908.14

Chase – Down from $1935 to $1910

Navient – Down from $24,777.24 to $24,700.53

Nelnet – Down from $34,875.25 to $34,874.90

I need to see results like this every month. As the side hustles continue to grow I know it will happen. I’ve seen several bloggers have their debt decrease by thousands every month. My time is coming. I love the fact that the Wells Fargo loan is under $100 now. It will be gone forever by June 3rd. Once that is gone Bank of America is up next!

Previous Debt Updates

January 2015 Debt Update (The 1st one)

February 2016 Debt Update

March 2016 Debt Update

April 2016 Debt Update

You can view all of my debt updates here.

If you’re paying off debt, how is it going? Did you have a good May?



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