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 3rd 2018 my new debt total is £16,243.60 (My starting debt total was £16,814.29)
In the last two weeks I have paid off £248.72. This is £70 more than I paid off in my last progress report so I’m really really happy. After a slow start to my debt free journey I feel like I’m starting to get some traction.
(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 £571.32, which I have calculated to equate to 3.3% of my debt total.
How have I made this progress?
Quite simply, work has been far busier over the last two weeks. I have made a very small amount on ebay and Prolific Academic, I can’t complain, but 99% has come from work. I’m so grateful to be able to say this. After a very quiet June and July it is so nice to have a regular work flow again.
Reflections for the next two weeks
Now that I’m getting into the swing of things I just want to keep going. I’m building momentum between the increase in work, small side hustles and writing the blog. My speed is picking up and I’m really getting to grip with paying off my debts. The trick now is maintaining this momentum. If you have any tips for me do leave them in the comments below!
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
