November Debt Update

Here is my November debt update.


Debt November 2013

| Infographics

This month my total debt actually increased from $71,838.97 to $72,066.36. I’m kind of pissed. I did well with payments, but interest on my student loans caused the jump. I have to start working on that as soon as my employment situation gets better. I am hoping my December update is better. It has to be. Here are the breakdowns.

Bill Me Later – Down $42.42

Credit Union Loan – Down $34.63

Wells Fargo Loan – Same

Discover Card – Down $23.77

Sallie Mae LoanUp $342.77. I’m not exactly sure how this is possible. The interest is ridiculous. I might have to start back paying on these earlier.

Direct LoansUp $46.09

Loan 2 – Down $25

Car – Down $62.98

Bank of AmericaUp $27.33

Moral of the story, do not get a loan through Sallie Mae. How are you coming with your debt repayment? What tips do you use?

Link Shout out

Alexis @ Fitnancials –> Lifestyle Carnival

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  1. Jason I do not have any loans. My suggestion is to take an excel spreadsheet and write down everything you spend, even if it is for a cup of coffee. You will be surprised at where you spend money. If you don’t start paying against the principle your loan will never decrease. Start cutting out the things that you could really do without and start paying down your loan
    Arleen recently posted…What Color Means to Your Corporate IdentityMy Profile

  2. I think Arleen’s advice s good. Start to write down everything you spend, and try to find ways to cut. Every little bit helps.

    Another option would be to get a consolidation loan that puts everything into one payment for you. Or to get a balance transfer on a credit card that gives you 0% interest for up to a year. This will give you time to get your finances in order without having to pay any interest. Good luck to you!
    Doreen Pendgracs recently posted…our words are a part of our soulMy Profile

  3. Loans can be killer with interest. Seriously. Good luck making progress and paying them off – it will be so awesome when you do!
    Fig @ Figuring Money Out recently posted…Saving Rent Money in NovemberMy Profile

  4. I actually keep all the receipts from everything that I spend. In the last 2 months I have lowered my phone bill and cable bill. I am working on bringing more income so that I can start paying these loans. My loans are deferred until January though.