Life and Debt Update: August 2015

by Melanie

Sorry for the disappearing act folks. That was completely unintentional on my part. About two weeks ago, I got slammed with work — I edited a short book, had several rad coaching sessions with awesome students, and kept writing and writing, except it was all for clients. On top of all that, I’m planning A LOT behind-the-scenes for FinCon and an upcoming blog tour.

It’s all fun and good stuff and it still feels weird that this is my life. I’m really bummed though that I neglected my baby, Dear Debt. I do feel the most at “home” here and want to give it the love it deserves.

I want to make sure I’m staying true to the point here and keeping myself accountable to paying off debt and inspiring others to do the same. The irony is that the money that pays off that debt comes from clients and not this site — but I still need to treat this as my number one client and keep it all in perspective.

Anyway, I wanted to share a little about what’s going on and also share my new debt repayment numbers!

This month was not as impressive as last month, but still more than my original goal. As I mentioned before though, I got some one-off payments that hit last month, which I knew weren’t coming in this month. But after all is said and done, I was still able to put $2,500 to debt! I’m particularly excited about this update as I got rid of my last 7.9 percent interest PLUS loan!

That interest rate was killer and now I’m dealing with those pesky 6.8 percent loans and a few thousand at 2.3 percent for my undergraduate loans.

Undergraduate loans: $5,043.27
Graduate loans: $15,979.91
Total: $21,023.18

I’ve paid off $36,000 in debt since January 2013 when I started this blog. I am so freaking close to being under 20k! I am so ready for this to be done. For the first time in my life, I can see the light at the end of the tunnel. Debt is no longer something that I will have “forever” but something that I will say, sooner rather than later, that I’ve overcome. It will be such a sweet payoff. I know some people say getting out of debt is anti-climactic, but I really don’t think that will be the case for me. I think I will cry and scream — and my dream is to host a debt payoff party. Hey, I can dream and plan 🙂

What’s new with you? What are you looking forward to?

Melanie
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30 comments

C@thesingledollar August 25, 2015 - 5:50 am

Awesome! You are so far past the 50% mark — it’s alllll downhill from here. I’m glad your work’s been so heavy because it’s all in the direction of improving your life!

Reply
Melanie August 25, 2015 - 10:28 am

Yes, it’s all good things! I’m so close, I can’t wait to be debt free!

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Michelle August 25, 2015 - 7:14 am

Congrats on everything that is going on and congrats on putting $2,500 towards your debt. You’ll be there in no time!

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Melanie August 25, 2015 - 10:27 am

Thanks, Michelle! It’s fun! I think next month I’ll be able to put more to debt too.

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Tonya@Budget and the Beach August 25, 2015 - 7:35 am

I always get sad when my favorite bloggers aren’t around as much because they are writing for other sites, but I totally get why though, and it’s so amazing you are able to put so much towards debt. Last stretch! See you at Fincon!

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Melanie August 25, 2015 - 10:26 am

I hate it too 🙁 I don’t want to be that person and will try to avoid doing so. I just felt like I couldn’t even catch a breath of fresh air! It’s good, but I’m ready to rest, too 🙂

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Ali @ Anything You Want August 25, 2015 - 7:48 am

Amazing progress – congrats! I’m looking forward to getting my budget back on track this month after a rocky summer. Of course the recent market correction isn’t helping it move in the right direction!

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Melanie August 25, 2015 - 10:25 am

Yeah, the summer has been tough. Just try to stay focused and keep on trying!

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Kirsten August 25, 2015 - 9:49 am

The struggle to keep one’s own site up and running while writing on a similar theme for other, paying clients IS REAL.

I barely have any paying gigs but most days I just want to stop thinking about money 😉 And most days I want to hide my head in the sand about how close FinCon is and how woefully underprepared I am.

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Melanie August 25, 2015 - 10:23 am

It’s crazy trying to juggle it all! You will be great at FinCon. Have business cards, energy and a smile, and you’ll be set.

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Shannon @ Financially Blonde August 25, 2015 - 1:20 pm

Congrats my friend!! At this rate, in two months you will be completely done with your undergrad loans for good! You are an inspiration. I know you are hustling your butt off and I’m glad you are getting the results you deserve!

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Melanie August 26, 2015 - 11:19 am

Can’t wait for it all to be gone and actually save and invest! I’ll feel rich in comparison!

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Natalie @ Financegirl August 26, 2015 - 4:57 am

You are so close, Melanie! I can’t wait for them to be gone for you. It’s going to be here in no time. I’ll also be putting $5k on my loans this month to bring my total from $130k to $125k. Slowly but surely this mess is going to get cleaned up!

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Melanie August 26, 2015 - 11:18 am

Holy molasses! Dang, girl. I am in AWE of you.

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Michelle August 26, 2015 - 9:27 am

Melanie, just think-by the time I see you, you will be below the $20,000 mark!!! Am so proud of you. Freaking Rock Star

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Melanie August 26, 2015 - 11:18 am

Hehe you always make me feel like a rock star 🙂 Can’t wait to see you!

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Kara @ The Daily Whisk August 26, 2015 - 9:30 am

Congrats on being so close to <20k. That is exciting!!! 🙂

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Melanie August 26, 2015 - 11:17 am

Yesss! So CLOSE!

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Ginger August 28, 2015 - 3:22 am

Congratulations on putting $2,500 to debt this month, girl! Your rock!

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Melanie August 29, 2015 - 9:58 am

Thank you so much! It feels goooood!

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Petra August 30, 2015 - 5:48 am

Awesome! Could we come to that party in, say… May 2016? That’s soooo close! Keep going!

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Melanie August 30, 2015 - 9:04 pm

Oh yes! It will be open to anyone! Will post when I have more details 🙂

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Kayla @ Shoeaholicnomore August 30, 2015 - 7:16 pm

Congrats! I’m really looking forward to FinCon right now and I just got a new gig that will put me over the top of what I wanted to earn each month. Yahoo!

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Melanie August 30, 2015 - 9:04 pm

You rock girl! Woo hoo. Can’t wait to meet 🙂

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Ema Matts September 3, 2015 - 4:56 am

Whenever I have any doubt on debt, my first priority is your blog. I am damm sure that I will definitely get a answer to my doubt.

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Melanie September 6, 2015 - 10:17 am

Thank you! Keep going!

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Elle @ New Graduate Finance September 5, 2015 - 10:57 pm

You have done amazing work so far, and you are now so close!!! Keep going, I know that you can and WILL do it!

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Melanie September 6, 2015 - 10:16 am

Thanks, I can’t wait!

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Even Steven September 7, 2015 - 4:42 pm

You must have the best accountability partner in the entire world, I’m sure none of this could be done without them.

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Melanie September 7, 2015 - 10:31 pm

I really do. I would be NOWHERE without them 😉 Thanks, friend!

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