Sam’s November Debt Progress Report

Nov 2014 Debt Progress Report

Monthly Progress on Individual Debts

The graph below summarizes my short term debt progress during the month of November. The blue columns represent my debt totals for individual loans as of November 1, 2014. The pink columns represent my debt totals for individual loans as of November 30, 2014. Looking at the debt progress in this format allows you to see that the debts I made minimum payments on only decreased by a relatively small amount.

Nov 2014 Monthly Progress on Ind DebtsSince I am only paying minimum payments on my student loan (for right now), the total amount decreases very little (only about $130!).

Total Debt Progress

Nov 2014 Total Debt ProgressPaying more than the minimum (overall) has made a significant impact toward decreasing my debt.

Amount Applied towards interest

Nov 2014 Amount Applied Toward InterestMost of my minimum payment went toward interest in November.

Nov 2014 Amount of income applied toward debtRoadblocks: New brakes for my car, flight for a friend’s wedding, bachelorette party, wedding gifts for two friends, and niece’s birthday set me back about $1,000 in November! As much as I hate not putting every extra penny toward debt, I love being able to spend money (and not go into debt) to celebrate exciting things happenings in loved ones lives.

November Dollar Hollaaas: Unfortunately, none this month! Next month for sure :-)

For more information on how to gain control of your finances check out our info on Getting Started by clicking the link in the menu bar at the top of the page. How do you stay motivated and track your debt progress? How are you balancing holiday spending while attacking your debt snowball?!

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Sam

Sam’ Progress Report is linked up at the following Frugal Parties: The Thrifty Couple’s Thrifty Thursday, Living Well Spending Less: Thrifty Thursday and as *Part of Financially Savvy Saturdays on brokeGIRLrich*!

4 thoughts on “Sam’s November Debt Progress Report

  1. Alicia

    My car decided to be a pain as well last month. As long as we’re still making the minimum payments and getting somewhere, it’s okay. It just feels like a let down compared to the gung-ho approach that shows so much progress in one month :)

    PS, isn’t it gross when nearly the entire payment goes to interest!!!

    Reply
  2. Chonce

    Looks like you are really making some progress on your loans despite the roadblocks you mentioned during the month. Right now I am just trying to stay ahead of interest on my student loans. I’m paying more than the minimum to help pay up interest every month so it doesn’t add to my principal balance. I plan on knocking out my $1000 Federal unsubsidized loan with some help from my tax return in the spring to really get the ball rolling.

    Reply

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