Debt Update: $34,030.34

It’s been about five months since my last post, so here’s an update. First of all, I’m no longer preparing for a wedding – my former fiancée and I decided it best to call it off as we both work on ourselves and deal with some personal issues that would prevent us from having a happy, long-lasting marriage. No big deal – it’s water under the bridge, we’re glad we made the decision we did, and all is well. But how does that impact my financial situation? Glad you asked!

Since I’m only accounting for my own financial picture now, the total debt number is a lot smaller. The debt meter originally read about $90,000. Today, it’s at $34,030.34. Here’s the breakdown of that number:

  • Student Loans: $22,385.80
  • Car Loan (Hyundai Sonata): $8,824.46
  • Credit Card Balance: $2,820.08

While I’m pretty upset that I drew up a balance on my credit card, I remind myself that it’s at 0% APR until March 2016 so I have a few months to get it paid off without worrying about any interest. Piece of cake.

The student loan, car loan, and credit card balance all seem pretty manageable. In fact, I just listed my Sonata on Craigslist this morning, so in another few weeks I’ll be able to completely wipe out the car loan. Luckily, I owe less than the car is worth, so I’ll get to sell the car and keep some of the cash, too (to put towards paying off my other debts). I’m now driving a paid for Volkswagen Jetta that has less miles than my Sonata does.

Anyways, my next post will provide an update after I cross off the $8,824.46 off the list!

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One thought on “Debt Update: $34,030.34

  1. Sorry to hear about the engagement; however, these things tend to work out as they should. I didn’t realize you were in the St. Louis region as well (I just read your Cards and Blues reference). Keep up the good work with your debt reduction; you are getting there!

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