Our last debt repayment report was March 14, 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: $1,398.20 -26.00
Personal credit card: $11,494.58 -174.60
My student loan: $5,692.62 -167.14
Husband’s student loans: $30,988.56 -146.27
Total: $49,573.96 -$513.71
A few notes:
- Once again, I am proud that the balances continued to go down and we did not resort to using credit despite our significant budget shortfall that occurred in March and has carried over to April.
- We have finally made it below $50,000!! Yeah. Now the next goal is to get the business credit card paid off.
When we became Gazelle Intense on October 20, 2011, our balance was $57,966.01. Since then, we have paid down 14.5% of our debt, or $8,392.05.
I am going to start further breaking down our debt. Our first priority is paying off the credit cards. On October 20, 2011, our overall credit card balance was $20,316.63. We have now paid off 36.5% of our credit card debt, or $7,423.85.