This is a personal-finance-meets-indebted-Millenials blog, right? So let’s get down n’ dirty with exactly what kind of debt we’re dealing with, shall we?
The Dames have a pretty common mix of debt. In fact, it’s exclusively student loans (both federal and private) and credit cards. We’ve both had the blessing of paying off our respective vehicles, but with two Bachelor’s degrees, one Juris Doctorate, a cross-country move, and living expenses (especially during Katie’s donut-binging bar prep experience), we’ve accrued a bit of a mountain of it. Here’s where we’ll be posting our quarterly progress at paying it all off. Our ultimate goal is freedom in our mid-thirties – so loosely 2035. Cheers!
- Jan. 2016 – March 2016: As you can see, not a whole lot of progress with our debt reduction but that consumer line has a slight downgrade! Hey, it’s our first quarter as serious debt-crushing dames.
- April 2016 – June 2016: We’re getting there! Both of us made huge progress on our credit cards, and the private loans are starting to follow suit.
- July 2016 – September 2016: ECD is entering her final year of credit card debt (payoff is July 2017). Here we go!
- October 2016 – December 2016: It’s crunch time for this year’s money goals! Will we make it???