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January 2016 Debt Repayment

January 29, 2016
AUTHOR: Emilie
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This is the first of many of my financial check-in posts. Earlier this month, I shared how I was working on a No Spend January and about the state of my debt.

ECSI (College Debt): 8686.00
Upstart (Starter-life Debt): 5860.96

Credit Cards
Southwest (Chase): 4576.42
Amazon (Chase): 1340.34
Discover: 864.00
Gold Delta Skymiles (AmEx): 801.21
Starwood Preferred Guest (AmEx): NONE

Combined Debt: 22,128.93

ECSI (College Debt): 8686.00 (0%)
Upstart (Starter-life Debt): 5720.00 (-2.4%)

Credit Cards
Southwest (Chase): 4533.72 (-.9%)
Amazon (Chase): 1315.34 (-1.8%)
Discover: 737.63 (-14.6%)
Gold Delta Skymiles (AmEx): 233.49 (-70.8%)
Starwood Preferred Guest (AmEx): NONE

Combined Debt: 21,226.18 (-902.75 or -4.0%)

 photo January Debt_zpsdpfscgxu.jpg
This was a big debt repayment month and I made big strides towards getting rid of that American Express card debt. I went on a work trip, though, and added $219.93 of work expenses to my Gold Delta Skymiles card, but paid that off immediately with the reimbursement (so $219.93 of that debt repayment is that). With that, I will be able to pay that off in full next month!

In case you can’t tell, I’m using the debt snowball method. My Southwest credit card has the lowest interest rate, so all my debt is there. It kills me the amount of interest I’m paying on all that, though. I really really really want to just get this all done.

I guess one thing that was kind of a bummer was my flat tire, which I wrote about here. That tire cost me $197, which could have put me in the perfect position to pay off that AmEx next month AND take a huge chunk out of that Discover card. Now, I can’t promise it, but I sure am going to try.

Theoretically, I pay off at least $635 each month towards debt, but $131 goes towards the minimums for Southwest & Amazon, leaving me with $504 which lets me pay off my Delta in full, leaving me with $270.51 to throw at my Discover, leaving me a mere 1 month away from paying that in full. Of course, this is all theoretical- let’s see how the month goes.



Emilie is a data engineer by day and lifestyle blogger by night. A Jersey girl at heart, she is currently living in her fifth home in three years, Savannah, GA with her college sweetheart. She’s learned the hard way that home is wherever the Army sends them. She enjoys eating food, cuddling with her dog, and binge watching HGTV.