Debt Payoff Report – December 2017
Well, December happened. I took two weeks off but ended up having to work from home for the first week. A seemingly brief time for family and friends followed and then I came down with a cold to cap off the year. Happy New Year, by the way!
I received a raise with a few months of retroactive pay that mostly went to student loans, so my debt repayment was higher than usual. If you’re curious, my net income is now around $4,500/month.
Including interest, I’ve paid $4,516.68 to my debt this month!
I made it under $90,000 in total debt – and that feels great. Since September when I broke the $100,000 mark it hadn’t really seemed like I’d put the six figure milestone behind me. Now I’m starting to feel the weight lift slightly with every payment I make.
I’ve also paid exactly $30,000 in principal this year, which was a stretch stretch goal for me! I think I had originally planned to pay off $20,000 (I paid $10,000 off in 2016) but then increased it to $25,000 and then $30,000 over the course of the year as my income went up and my spending went down.
What’s up in January?
I’m taking a vacation for the first time in almost three years, so I’ll be making minimum payments. We’re headed to a quiet B&B by the ocean for a little while, complete with a fireplace and crashing waves! With over two years of debt repayment finished and two years to go, it feels like the perfect opportunity to take a break and replenish my motivation.