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