Originally, I had taken out $21K for my car and $25K for grad school, thus bringing my total loans to $46K. By the time I started documenting my debt pay off journey I had paid off over $15,000 in a combination of both student loans and my car loan. However, I still owed ($13,957.01) on my Honda Civic and I owed ($17,329.96) from grad school loans.
CURRENT DEBT TOTALS
STUDENT LOANS = ZERO
CAR LOAN = $1,967.92
Total Debt As Of August 31, 2022: $1,967.92
THOUGHTS ON CURRENT DEBT TOTALS
It’s almost over! Usually, my monthly payments to Honda are set to $404.65. After seeing this loan balance, I am deciding to step it up.
If I make an additional payment on my 9/15/22 check and then bump up my monthly payments to $500, I will have this paid off by the end of the year.
It feels exciting to think that I will finally be debt free by the end of the year. Now, I just have to figure out how to cash flow these $40,000 in expenses.