Last month I “came out” with the terrible truth that after my husband’s 10 years of obtaining a combined M.A./Ph.D.,  two leaves of absence for me after each of our youngest children’s births totaling 26 of 34 months, and one failed business, we owed $56,908.71 exactly on student loans and credit cards.

At the beginning of each month, I plan to post updates to our debt repayment.  After one month, I am proud to announce that we have paid off $1,029.14.  It breaks down like this:

Business debt on credit card 1:  -$523.85

Personal debt on credit card 2:  – 354.46

My student loan: – 150.83

Husband’s loan: unchanged as they are not in repayment yet.

The balances are now:

Business credit card:  $6,647.19

Personal credit card:  $12,713.46

My student loan:  $6,785.27

Husband’s student loans:  $29,733.51

Total:  $55,879.43

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