February 2016 Debt Update

feb 2016Hello, everyone. I hope you all have been having a nice and productive February. Today’s post is my month debt update. I started actively paying off my debt in January 2015. Each month I share with y’all my progress. ¬†February’s progress is below.

My total debt went from $69,670.54 to $69,400.57. It was a decrease of $269.97. While that was good, I thought it was going to me more because I applied over $400 to the debt. Let’s go over the numbers.

Loan 2 – Down from $5890 to $5880

 

Wells Fargo Loan – Down from $876.72 to $753.83

 

BOA Credit Card – Down from $2962.79 to $2922.81

 

Navient – Down from $25,052.72 to $24,964.48

 

Nelnet – Down from $34,888.29 to $34,879.45

 

Looking at the numbers, I can see that the interest took the extra money that I applied. Moving forward, I need to put more money on each of my debts. I’m still looking for more freelance opportunities (Hire me if you need a freelance writer). Also, I discussed getting a part time job a few posts back. I plan on looking for one this weekend. I like the fact that I’m making progress, but I know I can do MORE.

Previous Debt Updates:

January 2015 Debt Update (The Beginning)

November 2015 Debt Update

December 2015 Debt Update

January 2016 Debt Update

If you’re paying off debt, how is your progress going?




Debt, Life , , ,
number_format_i18n( get_comments_number() ) ); ?>
  1. Great job, Jason! Reducing debt is a process and you are on your way. Thanks for sharing. We recently paid off a medical bill and took the money and increased the amount in our kids education accounts. What’s great about having different types of savings accounts is that it makes it easier to adjust those accounts when our focus changes without increasing out of pocket expenses. =)
    Sabrina Quairoli recently posted…Bathroom Organizing EssentialsMy Profile

  2. Progress is good! Even if it isn’t as much as you’d like, the direction is solid:)
    Jacqeline Gum recently posted…A Break For Where’s The JusticeMy Profile

  3. Keep going Jason, slow and steady wins the day! I’m enjoying watching your progress. I should consider doing a debt progress report myself but I’m still in the process of drawing a line in the sand myself.
    Lloyd Phillips recently posted…How To Pay Off Debt: The Half Payment MethodMy Profile