There’s only 8 days left in the year! Can I pay off my smallest debt?  I’m so freaking close it hurts!  The clock is ticking!

Smallest Debt: $277

I think I can, I think I can!

 

I almost didn’t want to do this update because I thought I was going to have zero progress, but it’s not as bad as I thought.  The timing of these update posts are also right before I make my credit card payments so the situation is even a little better than it looks.

Paying off the smallest debt first

As you guys know, I’m trying to follow the Dave Ramsey debt snowball and paying my smallest debt first.  Here’s where I am on that account:

October 2011: $1,380

November 2011: $945

I didn’t hit my goal of being under $900, but the more important goal is to pay off this debt before the end of 2011.  That’s only 25 days away!

Total Debt Update

November 2011: $35,795

% change from October 2011: 1.3% Decrease

I know, I should be doing a little better.  But since I already took my grand vacation, I’m ready to work hard both at the office and when I get home and blog and write.   Remember to track my progress by clicking on the ‘debt update’ category!

Here’s to keeping my head down and powering through…

Right on time this month!  First, let’s check in on my smallest debt.

September 2011: $1,815

October 2011: $1,380

Pretty good and I hit my goal of $1,400.  For November, I want the balance to be under $900.

Now for the grand total debt update:

October 2011: $36, 263

% change from September 2011: 2.2% Decrease!

Since we’re going on a two-week vacation soon, I may not be able to pay down as much in November.  But I am committed to not increasing my debt.  So there may be a dearth of posts while I frantically work some overtime and side projects to raise funds for my trip.

Tell me how you’re doing on your debt!

This update is coming a little late for September, but the month was pretty good.  Remember my updated debt strategy of paying off my smallest bill first?  Well here’s an update on that account, which is at 0% interest:

August 2011: $2,100

September 2011: $1,815

Pretty good, right?  My goal for finishing October is to get it to $1,400.  I can easily do it if I don’t pay small amounts to other accounts as well.  Now for the overall debt update:

Total Debt Update:

September 2011: $37,084

% change from August 2011: 1.26% Decrease

OK, that doesn’t sound like much, but that’s with carrying that money I lent to someone (now down to $900) and buying two tickets to Costa Rica for November.  The person I lent money to also has a 29% interest-rate Chevron card, so I told her to focus on that first instead of paying me.  I should be below $37K by tomorrow but that’s not really a September update anymore.  Paying off debt when you don’t make a lot is very difficult- and here’s a cool site I found that’s trying to educate people on the plight of many Americans: http://playspent.org/  The site is really well-created and well thought out.  Let me know what you think of it.

Remember to click on the ‘debt update’ tag for this post to track my debt reduction process from the very beginning of this blog!