September 2020 Debt Payoff Report


Debt Payoff Report

Hey there, fellow debt crushers!  I’m back again this month with another debt payoff report.

At this point we’re about six months into our debt payoff, and we’re super excited about looking at our six-month numbers.  Obviously, since we started in the middle of March, it’s not exactly six months in, but it’s nice and approximate and makes a good looking-back point.

If this is your first time joining me on these debt payoff reports, you can follow my story from the beginning or just recap here to see where we’re sitting.  I’m on a mission to pay off almost $27,000 in debt, and so far we are on a roll.

The Month of Nothing

September was a drab month for us.  Due to the pandemic, we haven’t done anything special, and the heat in LA at this time of year is oppressive, so we’ve been staying indoors anyway

I have started to run some in order to get some exercise, though, because I don’t like that I’ve basically been sitting down for six months

All I want to do is go out and experience an escape room, take a long hike, or explore a town in another county or state.  Instead, I’m over here plowing through lots of books, which is great for my education and my wallet (and my entertainment!), but not so much for my body

Here’s where we stand for September

September Debt Ledger


We pay close to $1,000 per month on our Joint Card 1, so we get to look forward to seeing that number drop under the thousand mark each consecutive month.

It also means we can expect to have that card paid off in about three and a half more months, provided we don’t run into any issues.  I’m looking forward to having this one paid off because after this one is done we’ll see some extremely fast paydown on the rest of our individual debts.

Our next order of business after Joint Card 1 is done is to work on Kyle’s Paypal account.  He’s already contributing $300 per month to that account (plus extra when he has it), meaning that we will be paying a total of $1,290 on that account.

It’s actually likely that we’ll only have one full payment and a partial payment left on that by the time our Joint Card 1 is done.

After Paypal is knocked out, the plan is to tackle Kyle’s personal loan, meaning we’ll be hitting that with a whopping $1,558 in payments every month.

Also notice that our monthly interest is going down, which means more and more of our payment is going toward the principal on each debt, meaning we are picking up speed in our debt paydown!

Looking Ahead

Right now I’m looking ahead to Christmas, which is our biggest expense of the year coming up and something I have to figure out how to do.  I already know I’ll have one more “extra” check and one month without a phone bill using my flat bill payment method.

Goals Tracking

Let’s take a look at how I’m tracking to my annual goals.

Pay Down $17,000 in Debt

Since we got serious about paying down our debt, we’ve made a total of $14,009 in payments.  This is great headway, but if we then subtract all the interest we’ve paid to date ($2,177—cringe!), our actual debt paydown so far is $11,378.

At this rate we’re actually on target to pay off about $19,000 in debt, so I’m not too worried.  We could even spend a bit on Christmas and slow down in December and we’d still be on track.

Write 24 Pieces of Content

I wrote more content in September than I’ve written in any other month to date.  I created seven new blog posts totaling nearly 14,000 words!

I believe in having diverse streams of income, and building a blogging business is definitely something I’ve had my eye on for waaaay too long.  In fact, I’ve been telling myself for probably ten years that I’ll start a blog.

This is me living that dream. Finally.

Blog Monetization

I’ve already completed the goal I set for myself this year.  At this point I’ve decided to dial back from looking at monetization methods. Instead, I’ve started looking at the tools I’ll need to get my blog up and running, advertise via Pinterest, and start my very own e-mail list where I can start building a like-minded community.

I’ve been taking the time to learn more about how to use Pinterest to drive traffic.  After all, a blog isn’t very useful to people who don’t know it exists.

Just Over Half a Year In

As with last month, I wanted to include a fun chart so everyone can get a big picture of our debt payoff journey.  I also just really love charts.  This month I snazzied it up a little bit with some extra info.

Look how close my debt payoff and remaining debt lines are getting!  We should be crossing the streams soon!


Until Next Time

Welp, this one was pretty short and sweet (for me).  Until next time, keep crushing those financial goals!

View the August 2020 report.

View the December 2020 report.



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