It's already been almost a year since my last update. I have been tracking my debt levels and spending since, but I think I felt like I had failed somehow when I tacked on a car loan on top of all my original debt after college. The good news is that my current level of debt is fast approaching what it was before the car loan I took out 1 year ago.
My current debt stands at 42,705.
I started at 38,480 in October of 2011. I am 4,225 more in debt than I started, but my car loan was for 14,000 and I plan on getting my debt level to less than I started soon. This means I have paid off almost 10,000 in debt since October 2011, not including money going towards interest.
My annual budget says with one month left of the year, I have contributed:
47% to spending
23% to savings
30% to debt payments
In July I paid off my small private Citibank student loan. This only leaves me with three sources of debt:
1. federal student loans
2. auto loan
3. personal debt.
I hope to knock out the auto loan within the first quarter of 2013. This will free up almost 300 dollars a month which should help me be able to move out on my own.
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