Our last debt repayment report was February 2nd, 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: $1,424.20 -381.69
Personal credit card: $11,668.88 -128.78
My student loan: $5,859.76 -151.04
Husband’s student loans: $31,134.83 +24.36
Total: $50,087.67 -615.90
A few notes:
- I was hoping to have made more progress than we did this month, but snowflaking came to a screeching halt thanks to our March budget deficit. Still, I am proud that the balances continued to go down and we did not resort to using credit.
- I am not sure why my husband’s student loan balance went up. He has 4 loans; two are in their grace period, though one of them is accruing interest while in the grace period. The other two are consolidated and we are paying $155 a month. I think the balance went up due to the interest on the unsubsidized loan in the grace period. That frustrates me, and I can’t wait until we can attack his student loans with a vengance!
When we became Gazelle Intense on October 20, 2011, our balance was $57,966.01. Since then, we have paid down 13.5% of our debt, or $7,878.34.
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 35.5% of our credit card debt, or $7,223.55.