15 Months Of Debt Repayment

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In some ways it feels like we’ve been paying off debt forever, but it seems like the last year and a half have gone by really fast! Christmas is almost here again, and 2019 is right around the corner! I’m excited to make some big goals for next year.

As you probably already know if you’ve been reading a while, we started paying off our debt in September 2017, starting at $26,556.64. We have a goal to be debt free by September 2019. It was one of my big goals for 2018 to be under $10,000 in debt by the end of the year, and I’m happy to say that we’ve already knocked that out of the park!

Right now we currently owe $6987.54

Last time I checked in with you about debt repayment we had $10,633.20. In the last few months we’ve been able to put over $4000 on our debt! Crazy! Let me show you how:

September: We made our regular payment of $780.00.

October: We made our regular payment of $780.00.

November: We made our regular payment of $780.00 and I had sold $140 worth of stuff we had laying around as a challenge with my private Facebook group, Money Talks. November was also a 3 pay month for both of us, and we were able to put an extra $2000 on the debt.

I love those 3 pay months for being able to throw a lot down on the debt, as usually our expenses are the same as normal, so it ends up being extra cash. I would highly recommend using those 2 extra paydays a year to put on debt or toward a savings goal!

When we started paying off the student loans, the national student loan was charging us over $2 a day in interest, can you imagine just throwing a toonie a day into just paying interest? Now we pay $0.47 a day in interest, which is a bit easier to swallow.

Want To Learn How To Do It Yourself?

If you’re interested in learning about our budgeting process, I’ll be doing a free live webinar on my private facebook page on December 30th at 1pm Atlantic time. If you can’t make it, no worries! The replay will be in the group whenever you’re ready to watch. To make sure you don’t miss it, sign up here