Every two weeks I will be sharing my debt payment progress report with you. I’ll share my new debt total and all of the things I have done to make this happen. I think this is important for two reasons. It will help me record my journey and share with you what works and what doesn’t. It will also help me to stay motivated!
My new total!
As of August 17th 2018 my new debt total is £16,095.85 (My starting debt total was £16,814.29)
In the last two weeks I have paid off £147.75. It’s smaller progress than last week but look how close I am to getting under £16k! I will absolutely smash through that in the next two weeks. That makes me so happy.
(I should note that I have paid in more than this, however some money has gone straight to interest. This is why the numbers below are larger than the net amount that I have paid off. I have also been putting money into an emergency fund.)
My new total debt payment to date is now £718.44, which I have calculated to equate to 4.2% of my debt total.
If you read Wednesday’s post you will know that I completed my emergency fund. That means two amazing things. Firstly, I am now officially in baby step 2. Secondly, all of my budget (following bills, expenses etc) will now be directed at my debt. The debt snowball is well and truly underway. I’m excited to see my progress in another two weeks!
You can find my previous reports here:
- Debt Payment Report – Starting Point
- Debt Payment Progress Report 1 – 06/07/18
- Debt Payment Progress Report 2 – 20/07/18
- Debt Payment Progress Report 3 – 03/08/18