Our Debt Repayment Progress #6

Our last debt repayment report was January 5th, so here is the progress we have made since then:

The current balance and the change in balance since the last report are:

Business credit card: $1,805.89    -2,104.74

Personal credit card: $11,776.41    -128.78

My student loan: $6,010.80    -156.73

Husband’s student loans: $31,110.47     -25.54

Total: $50,703.57     -2,415.79 

When we became Gazelle Intense on October 20, 2011, our balance was $57,966.01.  Since then, we have paid down 12.5% of our debt, or $7,262.44.

I am going to start further breaking down our debt.  Our first priority is paying off the credit cards.  Since October 20, 2011, we have paid off 33% of our credit card debt, or $6,734.33.

Comments

  1. That’s wonderful. You’re very close to dipping below $50k which will be a huge milestone. Keep up the great work!

  2. The best part is as you make more and more progress, it will seem more achievable! Good luck Melissa – you can do it!

  3. You guys are doing such a great job on kicking your debt to the curb! It’s going to be such a relief to you when it’s gone.

  4. Great work thats a lot of debt gone in only a few short month especially with two holidays in between. Student loans are whats really kicking my butt at the moment.

  5. $7k in four months is rather impressive. My wife and I are trying to regain a bit of that ‘gazelle intensity’ as well. It is amazing at what you can accomplish when you set your mind to it!

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