July 2016 Debt Update

JulyHappy Tuesday everyone. Today’s post is my July debt update.

My total debt decreased from $68,105.91 to $67,921.84. It was a drop of $184.07. This month’s decrease was a little smaller than normal. As I stated last month, my best friend is getting married next month. He’s having a destination wedding. I had to pay for a few things such as flights and the wedding suit. I also had to put away money for the hotel. Since I’m paying my debt off I refused to use my credit card to pay for these items.  That means a lot of side hustle income was used. It’s fine, though. I should be able to add a little more money to the debt in August.

Below are the current numbers:

Loan 2 – Down from $5840 to $5830

Bank of America – Down from $897 to $800.11

Chase – Down from $1885 to $1860

Navient – Down from $24,611.30 to $24,561.15

Nelnet – Down from $34,872.61 to $34,870.58

The numbers are getting slower. I have been pitching to more clients so I should be bringing in more income very soon. I have the bullseye on my Bank of America credit card.

Previous Debt Updates

January 2015 (The Beginning)

April 2016

May 2016

June 2016

How is your debt repayment going?

Disease Called Debt

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  1. Congratulations! I have small savings this month. Too hot in here this makes us pay more on the electricity and stuff.

  2. Wow congrats not going into debt for the destination wedding! Plus your debt total still went down. Really fun (and inspiring) to see your progress, Jason. I know you are hustling hard so it’s nice to see it pay off.
    DC @ Young Adult Money recently posted…Use this Hack to Make a Quick $25My Profile

  3. Congrats on moving forward even while you’re saving up for your friends wedding (inconvenient friends and their inconvenient weddings 😛 I feel like I finally just finished running the gauntlet of friends getting married in their twenties, had like a one year break and now there’s a whole new group of them getting married – it just never stops!).

  4. So glad you’re going to the wedding AND seeing your debt decrease at the same time! Life events like that are really important; it’s impressive that you’re not going into more debt over it, though.

    Are you paying off highest interest rates first or smallest balances? Hope you’ll join us on Thursday!
    Femme recently posted…Debt sucks. Let’s talk about it.My Profile

    • I’m paying off the smallest balances first. So far so good. After Fincon, I will be able to put even more money towards the debts.