Sam D. Miller

It’s been seven months since my last debt update, and to my horror I’ve only paid off $2,391.62 in that timeframe. Awful! I could have cut my debt balance in half if I didn’t throw so much money away each month.

So what now? It’s crunch time. I wish I could eliminate the rest of my debt by January 1, 2017, but that seems like a pretty lofty stretch goal. There are only 175 days until New Years Day, or 5 months and 22 days. Assuming I was somehow able to get there, I’d need to be throwing over $3500 per month towards the debt. I don’t even make that much per month. Not to say I couldn’t add a part-time job or increase my side projects, but it’s quite a daunting goal.

Regardless of how impossible it seems, I want to try. I want to try to be debt free by New Years Day. Impossible? Probably. But crazier things have happened. I’d love to be able to keep $615.98 in my pocket each month instead of putting it towards the minimum payments on my debt. Fortunately, $350 of that monthly payment will go away after 3 more months, so I should be able to get more aggressive when I can use that extra amount to throw towards the rest of my debt.

Let’s see how this goes! Time to get creative.