The Current Debt: September 2017

Debts as of August 31, 2017:
Car loan: $1198.25
Credit Card #1: $0 
Credit Card #2*: $9,315.24 (Interest rate: 15.74%)
Credit Card #3: $10,794.59 (Interest rate: 14.51%)
Student Loan #1: $11,475.21 (Interest rate: 7.00%)
Student Loan #2: $41,156.19 (Interest rate: 7.25%)

Total debt, including car loan: $73,939.48
Debt last month: $75,281.43
Amount towards debt last month: $1600

Debt breakdown: 71.2% student loans, 27.2% credit cards, 1.6% car loan

2 comments:

  1. $2000 is great progress in one month! Congrats guys! I'll be following along to see how things are going. I'm sure you've stated this elsewhere but do you have a plan for tackling your debt such as the snowball or avalanche method? Based on your loans they will pretty much be the same thing but I'm curious. Good luck!

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    Replies
    1. Hi Kevin! Thanks! I guess you could say we're using a combination of the two? We paid off the CC with the lowest balance and will soon pay off the car. We'll then add what we put towards those payments to the monthly payment of the highest-interest CC and go from there.

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