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October 2015 Debt Update

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October 2015 Debt Update

It’s time for my monthly debt update. In this post, I share with you the progress that I am having each month with my debt. Since January, I’ve been actively keeping track of the debt and paying it off.  I plan on paying off my debt by a specific date. I will do that by creating multiple streams of income. Some of those streams are eBay and t-shirt sales. Below is the October 2015 debt update:

October 2015 Debt Update

The total debt went down from $70,624.94 to $70,411.42. My debt decreased by $213.52. It seems like it should have been more, but it wasn’t because of the interest on some of the loans.

Loan 2 – DOWN from $5930 to $5920

 

Credit Union Loan – DOWN from $188.34 to $138.45

 

Wells Fargo Loan – DOWN from $1127.18 to $1076.94

 

Bank of America CC – DOWN from $3108.37 to $3077.42

 

Navent – DOWN from $25,466.27 to $25,360.63

 

Nelnet – UP from $34804.73 to $34,837.98

 

I’m making small gains, but it’s time for them to get bigger. Also, I’m working on some ways to create more extra money. I will be discussing a few in the upcoming weeks.

Previous Debt Updates:

January 2015 Debt Update (The Beginning)

July 2015 Debt Update

August 2015 Debt Update

September 2015 Debt Update

You can view all my debt updates here.

How has your debt repayment been going?

 

4 Comments

  1. Interest sucks! At first my car loan was costing me around $100/month, just in interest. Now that it’s almost gone, it’s running me only around $30-40. It’s still a decent chunk of money, but it’s much better than what it was.

    1. I’d take $30-$40 over $100 any day.

  2. Interest is a killer. I know you tried to get a 0% transfer card, but have you tried any other loan consolidation? I’ve heard of some new consolidation programs that seem pretty legit. Granted it doesn’t get you down to, say, 3%, but it does seem to help if your debt is currently closer to ~20%.

    1. I haven’t. I will take time during my Christmas break to research some of the programs.

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