All of a sudden we have arrived in a brand new year. It has been almost an entire month since I last did a debt payment progress report. After I got caught up in the festive season I decided to just ride the wave instead of fighting against it. I took a break from writing, but not from my debt journey. Let me catch you up on where I am now!
Debt payment progress report – my new total!
As of January 11th 2019 my new debt total is £14,435.87 (My starting debt total was £16,814.29)
That means that since I last updated you about a month ago I have paid off £184.16. My new total debt payment to date is now £2378.42, which I have calculated to equate to 14% 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 £6399.46
- Loan Two £5743.05
- Credit Card One £0
- Credit Card Two £2293.36
If you’ve been following my journey closely you will know that it has been just over a month since I last updated you on my debt free journey. As you can see, I have made some progress on my debt total, but not by leaps and bounds. Unfortunately December was a very expensive month and whilst I was able to make all minimum payments I couldn’t afford to throw anything extra at my debt. My totals have all gone down however thanks to interest the dent I have made in the past four weeks feels tiny!
You can probably tell from the way I’m talking in this post that I’m disheartened and a bit frustrated. I stopped posting for a while partially because I was really busy around Christmas and things, but more so because this debt free journey is bloody hard. I really do enjoy sharing my progress because it motivates me to carry on and I know it helps some of you too, but sometimes hiding away for a bit feels like the best option.
Now that we’re well and truly into the new year I feel like I’m out of my slump and ready to take on 2019. This year has so much potential and I’m really excited to see what I can achieve if I keep moving forward, even if it is slow sometimes!
You can find my previous reports here.
December will always be one of the most difficult months for saving money, so don’t let it get you down! It sounds like you’re doing a great job slowly chipping away at the debt x
Thank you so much Lorna! That’s exactly what I need to keep reminding myself! I appreciate you taking the time to leave a comment 🙂