One year ago on October 20, 2011, my husband and I began to attack our debt with gazelle intensity.
I thought it would be fun to reflect on what our debt was on that day, compared to what it is now:
October 20, 2011
Business credit card: $6,344.21
Personal credit card 1: 1,061.15
Personal credit card 2: $12,911.27
My student loan: $6,668.40
Husband’s student loans: $30,980.98
Total: $57,966.01
October 20, 2012
Business credit card: $0 -6,344.21
Personal credit card 1: $0 -1,061.15
Personal credit card 2: $11, 345.10 -1,566.17
My student loan: $4,720.12 -1,948.28
Husband’s student loans: $30, 752.26 -228.72
TOTAL: $46,817.48 -11,148.53
Last year our income was very small, and this year it is slowly increasing, so I am quite proud that we were able to pay almost $1,000 a month on our debt. As our income continues to increase and Murphy moves on to visit someone else, I am confident we will make even more progress.
However, having said that, my husband and I have agreed to take a break from gazelle intensity for now in light of my current health issues. Right now, our first priority is to restore my health, and that means one thing I need to do is try to let go of stress.
Gazelle intensity is many things, but for me, a person who is a Type A stress prone person, it is not good for my health. I know that the debt deserves my attention, but for right now it is going to take a back seat to improving my health.
The plan is to pick up gazelle intensity sometime after the beginning of the year, between January and March. I don’t want to set a firm date as I want to see what happens physically before I do.
Have you been paying down debt? How is your progress? Share and let’s celebrate kicking some debt to the curb.
{ 6 comments… read them below or add one }
I think that’s AMAZING progress, especially being able to eliminate a few of the smaller debts entirely. And (bonus!) you’ve gotten used to living on a smaller income, so when more money comes in, you’ll really be able to spend it wisely – to pay down more debt!
Yes, exactly. And the income is starting to increase slowly, so hopefully we will gain some traction.
I am looking at developing a plan with some added intensity to pay off some debt. I am planning on making some great progress over the next 3 years to free up some room in the budget.
I would love to hear your plan! Maybe it would work for me too.
Wonderful progress – congratulations! Hold steady!
Impressive! Your good habits will help you achieve your goals even after the debt is gone. Congrats!