If I am going to be honest, then I will say that these might not be as exciting going forward. Given that the bigger portion of my debt is gone, I have changed my focus.
I no longer am trying to throw as much money as possible towards my debt. Instead, I want to focus on investing.
My plan for 2021 is to actually max out my 401K for the first time. I also hope to max both my IRAs ( I still have $1,900 to contribute to my 2020 Roth as of this post).
For a quick overview of my full financial goals for 2021, check out this short video linked below.
PROGRESS THUS FAR
I paid the exact dollar needed towards my car loan this month: $404.65
Truly, I do not see myself putting extra money towards this. At least not for the next few months.
To be frank, I have retirement catch up to do. That catch up will be my primary focus going forward.
I also want to cash flow my next birthday vacation. So I need to save up for that.
CURRENT DEBT TOTALS
- Student Loans = ZERO
- Car Loan = $9,697.57
Total Debt As Of January 2021: $9,697.57
THOUGHTs ON debt payoff PROGRESS
First, I am ahead of schedule for paying off my car.
Secondly, my total loan balance is now under 10K owed.
I feel as though I have a very real chance of being debt free by 30. Heck, I might even be debt free by the end of the year.
What are you currently working to pay off? Let us know down below in the comments.