Let’s Throw Some Money at Our Problems: December 2015 Check-In
It’s time to check in on our debt payments and savings goals again. If you’re joining us for the first time, we like to report a specific balance at the end of each month to have a public record of our efforts to pay down our debt or reach our savings goals. You can read about our decision to publicly keep track of our debt here.
Pull up those balances!
At the beginning of 2015, my parents gave me a no-interest loan to use against my credit card debt because they wanted to help me pay down my debt without accruing credit card interest. The original loan amount was $14,000, and it’s my goal to have it paid off before Summer 2016.
November 2015 Balance: $6,800
December 2015 Balance: $6,000
I also want to add that, in December, I paid $1,717.72 towards my Capital One Visa Platinum account, bringing that credit card balance down to $0.00. That was all “recent debt,” like my holiday plane ticket, but it still feels good.
I’m paying off a private graduate student loan currently serviced by Discover. The interest rate on this loan is 2 percent, and the minimum monthly payment is $147. The original balance on this student loan was $22,377.
November 2015 Balance: $9,845.38
December 2015 Balance: $9,613.83
Your turn! What’s your balance this month?
P.S. If you want to see want to see what you posted last month when we were on the old system, log into your Disqus account to find your old comment.