A little over two years ago I started documenting by debt pay off journey. At the time my total debt was $31,286.97. This included the remaining balances on a car loan for my Honda Civic ($13,957.01) and my outstanding student loans from grad school ($17,329.96).
Originally my car loan was $23,123.33 and my student loans was $25,000. However, I had been making payments along the way to reduce my loan balance.
My drive to become “debt free” was primarily driven by discovering the FIRE movement.
CURRENT DEBT TOTALS
STUDENT LOANS = ZERO
CAR LOAN = $4,183.00
Total Debt As Of March 30, 2022: $4,183.00
THOUGHTS ON CURRENT DEBT TOTALS
I really wanted to be debt free before my 30th birthday, however, I made other financial decisions that didn’t allow for that to be a reality. Nevertheless, I am going to pay off this debt by the end of the year!!
This means that I will have an additional $404 in my budget each month. *Cue Happy Dance*
I will never ever ever buy a brand new car as long as I live. This ranks in among the top 3 of my worst financial decisions.