September 2012 Debt Update: That’s It For Me (Sort Of)
Last month, my goal was to be under $10,000 on my highest-interest debt. And I made it, just barely:
Highest Interest Debt (August 2012): $11,108
Highest Interest Debt (September 2012): $9,999
% Change: 10% Decrease
And my total debt looks something like this:
September 2012: $25,367
% Change from August: 5.3% decrease
And with that, I’d like to make a change in my debt updates. I am no longer going to make a monthly post out of it. I’ve been lazy, y’all. I use my debt update as a way to coast for a week without writing something good and instead just talk about how I am on track and make monthly goals which have been way too achievable (not trying hard enough). It’s great to be on track and I am not taking that for granted, but it’s time to step it up. I’ve been saying for a while now that small business ownership is one of the best paths to wealth and financial independence for many average Americans (or citizens of any country for that matter).It’s time to write more in-depth posts on business, business book reviews, and current legislation that affects small business owners. My goal is to have 100% of my credit card debt paid by the time I am 30 (maybe not right on my birthday, but within a few months). And I will stay 100% transparent on my debt until it is ALL paid off, with the exception of a mortgage or a business loan, which will hopefully be an SBA loan. All you have to do to check up on how I am doing is scroll down to the bottom of this page and check the Debt Tracker in the right-hand corner. Monthly goals was one of my resolutions for 2012, so my goal for October is to be under $24,000 in debt and to continue making monthly goals even though I won’t always blog about them.
I have used this blog to examine my own situation under a microscope and it’s time to hand the microscope over to some more interesting topics. I’ve changed my habits to reduce my expenses. I’ve tracked my expenses daily since January, and I’m now spending around $650/month on variable expenses, which seemed impossible just a few months ago.
My goal for American Debt Project is to be a home for people who have realized that having a lot of consumer debt is not doing them any good and they have the desire to change their situation. There are people who have debt but who are also working on a ton of other things and have the ability to make it happen…but that debt is not helping them and it’s still a huge obstacle that needs to eliminated as soon as possible. When you are ready to make a change in your life, you usually know what you need to do. You start doing your own research. You start talking to people smarter than you and you don’t roll your eyes when someone suggests staying in instead of going out to eat or catching a $12.50 movie. I will share good ideas for getting out of debt, but everything you need to know to get out of debt is already out there. American Debt Project should be getting a little more interesting, starting…now!