Debt Payoff Report – September 2017

Debt Payoff Report – September 2017

Did September even happen this year? I think I missed it.

The only thing I remember about last month is that the Bank of Canada raised interest rates again. It’s always stressful when the amount of interest on your debt increases. It feels like you’re climbing up a hill of sand and suddenly you slide back as it shifts under your feet.

I’m fortunate to have room in my budget to cover the increasing debt servicing costs, but I know there are so many Canadians out there who are stretched thin and bridging the gap with more credit. Let’s treat these interest rate hikes as extra motivation to collectively crush our debt, shall we?

Including interest, I’ve paid $2,444.42 to my debt this month.

September Milestones

I’m under six figures! I’ve been processing my emotions around that milestone for the past few weeks, and I’m still not sure how I feel about it. In a way, reaching that goal felt like the end of something. Really, it’s just the 24% mark. I can feel the momentum taking over as I pay off larger amounts, but I’m impatient for a finish line that’s still far off in the distance.


What’s up in October?

With a raise and retroactive pay, October will be my best month yet. Also, Super Mario Odyssey!

4 thoughts on “Debt Payoff Report – September 2017”

  • I subscribed to your blog after someone shared your Keeping Up With the Mustachians blog post in a FB group I follow. I like your posts. It’s nice to read content from someone local. I’m in the Fraser Valley though, not the city of Vancouver. Your success in paying off your loans at a fast clip is inspiring. Thanks for sharing your journey. Keep it up!

  • Congratulations! Being under six figures has to feel good. I also get impatient and need to remind myself that I will eventually kick debt’s ass, it just might take a while. And YES to Super Mario Odyssey. Need to find a friend that has a Switch ASAP. Looking forward to October’s update!

    • Thank you! It feels amazing! I think part of my impatience comes from being in school so long, and then graduating only to have all of this debt to pay back. I just want to close that chapter of my life but it’s still a couple of years out!

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