Debt Payoff Report – January 2018
It’s time to say goodbye to the first month of 2018. I can’t say I’m sad to see it go – January tends to be a tough one. We indulge in December and then struggle to dial it back to our usual routine for the first few weeks.
My minimum payments are around $1,300, so although this month was my lowest month since 2016 I’ve still made more progress than I would have in my previous mindset. I usually pick it up in February and March so I’m not too worried.
Including interest, I’ve paid $1,712.88 to my debt this month!
I’m under $30,000 on my student loan!
No other milestones, but I did take my first vacation in almost three years which was one of the reasons for my lower repayment this month! Spoiler: it was so worth it!
What’s up in February?
February should be business as usual as far as debt repayment goes. It’s a short month so hopefully that will mean lower spending, right? I’m already looking forward to tax refund season in March! I know some are against the ‘interest free loan to the government’ but near the beginning of my journey having a large lump sum was better for me than smaller amounts throughout the year that could be easily spent. This is my last year with a significant refund because I’ll be using up my remaining tuition tax credits, so I need to make the most of it!