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.
That’s wonderful. You’re very close to dipping below $50k which will be a huge milestone. Keep up the great work!
I can’t wait to get below $50,000!
The best part is as you make more and more progress, it will seem more achievable! Good luck Melissa – you can do it!
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.
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.
I feel your pain. The student loans haunt me too.
$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!
It is amazing. When you are focused, it is amazing how much more money you can find.