January Debt Repayment Update

January Debt.png

January was a chill enough month. We learned we were moving to Hawaii in just over one month; so January is our last month with an extra debt payment until we get settled.

We paid $941.34 towards our debt in January! So, that is exciting. That giant to go number though is still terrifying. We are still fighting interest. Since the last update I did with this pig picture (November 2015) we have made a progression of $1,272.26. Which really isn’t too shabby.

If you are new to our debt payoff journey here is a little bit of info.

  • We are doing a debt avalanche (highest interest to lowest interest)
  • We are on Income Based Repayment for our FedLoan and Navient. Our IBR amount is $0 a month.
  • We have two Perkins Loans through our University that are not on a payment plan and are paid monthly
  • We are currently focusing on “avalanching” Mr. Wanderlusts Parent Plus Loan. Because this is in his parents name and non-transferable, it is not on a payment plan.

 

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