Brittany’s November Debt Progress Report

The table below summarizes my long term and short term debt progress. In the “Current Debt” column, my totals as of November 1, 2013 have been crossed out and replaced with my debt totals as of November 30, 2013.

During the month of November I paid a total of:

  • $2,370.34 towards all of my outstanding debts
  • $238.27 of that went towards interest

I currently owe:

  • $13,777.08 less than my original loan amounts
  • $2,132.07 less than I owed on November 1st

total loans-nov

 

Great Lakes Student Loan 1 is highlighted because that is the debt I am currently working to pay off quickly. If I continue at the rate that I paid in November, I will have this loan paid off in 2 months. That means I am saving myself the hassle of 74 months of minimum payments and $665.23 extra in interest. The graphs below give you a visual comparison of these numbers.

At my current repayment rate I will pay off my Great Lakes Student Loan 1 in two months. If I continued to ignorantly make the minimum payments, I would be paying for 74 more months—that’s more than 6 years!!!

At my current repayment rate I will pay off my Great Lakes Student Loan 1 in two months. If I continued to ignorantly make the minimum payments, I would be paying for 74 more months—that’s more than 6 years!!!

At my current repayment rate, I will pay $3,048.83 to completely pay off my Great Lakes Student Loan 1. If I continued to ignorantly make minimum payments until all my debt was paid off in full, it would cost me $3,714.06—that is $665.25 extra!!

At my current repayment rate, I will pay $3,048.83 to completely pay off my Great Lakes Student Loan 1. If I continued to ignorantly make minimum payments until all my debt was paid off in full, it would cost me $3,714.06—that is $665.25 extra!!

Dollar amounts and month totals displayed in these graphs were calculated using the Financial Calculator that can be found on our Resources Page.

Roadblocks: No extreme roadblocks affected my payments this month. I have been pulling an extra $100 from each paycheck as a safety net for my Christmas gift fund; however this is not a surprise and didn’t affect me significantly. I will say that looking ahead—because isn’t that how you make sure you are financially ready—the roadblocks will be plentiful next month. Yay! 😉

November Dollar Hollaaas: My money holla for the month of November comes in the form of a small cash back reward from my credit card rewards points and some monetary gifts I received for my birthday. I was able to use some of my birthday scrilla to supplement my spending money for my Thanksgiving trip to San Francisco!!

Thanks to amazing family that hosted us, we had an AWESOME and financially possible Thanksgiving in the city by the bay!!

Thanks to amazing family that hosted us, we had an AWESOME and FINANCIALLY RESPONSIBLE Thanksgiving in the City by the Bay!!

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Brittany

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