$23k Debt-Free

October 2016: Debt-Free Break Down

Loan: $Total debt – $Monthly payment = $Total balance

Credit Card: $9,443.71 – $191.00 = $9,445.30

Student Loan: $10,286.82  – $111.18 = $10,259.00

Total debt balance = $19,704.30

We have a two months deadline to meet our personal saving to cover a 6-months expenses. By the looks of October vs September post, our payments barely made a dent into our new balance. This means that interest are taking a hold of our minimum monthly payment. If this will be the case, we might as well continue focusing on our personal savings account and really have to take out another personal loan to rid us of the pesky Student Loan. Sure the interest will be higher, but at least we know that majority of the minimum monthly payment will not cover the interest. We are making progress compared to where we were a year ago, I’d have to say.

A lot of things have changed in the last few months including an increased in rent, starting on a new business venture (in the works), and personal goals.

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