Every two weeks I will be sharing my debt payment progress report with you. I’ll share my new debt total and some of the things I have done to make this happen. It will help me record my journey and it will also help me to stay motivated!
Debt payment progress report – my new total!
As of November 2nd 2018 my new debt total is £14,870.56 (My starting debt total was £16,814.29)
That means that in the last two weeks I have paid off £149.62. My new total debt payment to date is now £1943.73, which I have calculated to equate to 11.5% of my debt total. (I should note that I have paid in more than this, however some money has gone straight to interest). The following debts now remain:
- Loan One £6723.67
- Loan Two £5869.48
- Credit Card One £0
- Credit Card Two £2277.41
Another milestone hit as I clear the £15,000 mark!! This is has been quite a slow two weeks as both interest payments (on my loans) have been taken in this time, but none the less I have smashed through £15k and I’m so excited!
The next two months are set to be slow ones as work often dies down over the Christmas period for me and so I am prepared for slower progress. My priority, as always, is ensuring that all minimum payments are covered along with my other bills. I’m also ensuring that I budget well for Christmas and avoid borrowing money to cover it. Thankfully secret santa is going to help out a great deal there, and the fact that we aren’t hosting this year.
My plan for November and December is to spend any down time on trying to earn some extra income on the side. If you read my goals post yesterday you will know that that means a lot of ebay selling and surveys on Prolific. Any day that is quiet on the work front will be productive in some other way and my debt total will continue to go down no matter what!
You can find my previous reports here.