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August 2016 Debt Repayment

August 26, 2016
AUTHOR: Emilie
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I mistakenly published a draft of this post earlier this week. Sorry if you were confused! Thanks for putting up with my human mistakes. Now, let’s talk about debt!



Change Percent Change


ECSI 8413.61 8355.67 57.94 -.7%
Upstart 4661.67 4498.06 163.61 -3.51%

Credit Cards

Southwest (Chase) 2967.83 267.74 2700.09 -90.98%
Discover 965.99 2369.00 -1403.01 145.24%
Combined CCs 3933.82 2636.74 1297.08 -32.97%
Combined Debt 17009.10 15491.08 1518.02 -8.92%


So here’s what happened: I earned a lot of money in July that I got paid for in the beginning of August. The result: when I got paid, I attacked my Discover card. I had wholly paid that off and was very excited to be able to share with you at the end of this month.

But then… I got an offer from Discover for a 3% transfer fee at 12 months with 0% APY. Umm, considering I was paying 16% interest on Southwest, I transferred $2600 of my Southwest debt there. With the 3% fee, it went up to the $2369 that’s currently on my Discover Card.

A couple of weeks ago, I filed a claim for a charge for my Southwest card. My movers had damaged some of the furniture in my move and they had refused to pay the insurance. Southwest ruled in my favor to the tune of $500. (Two hundred more than I had been expecting from the movers, but I’m not complaining.)

Altogether now, I’m excited to be below 16 K. Can you believe that I’ve paid over 6K of debt since January 1, all while cashflowing a move and everything else I’ve got going on? Remember when I had FIVE credit cards to pay. I’m thiiiiiiiis close to having only one with 0% interest. (I’m half cheating because I already scheduled the payment for the first of the month and will have that paid off.)

In case you missed it, my car broke down this month. It cost me a whopping $500 which I pulled out of my emergency savings. I will have to rebuild that.

I also got a scholarship to FinCon and have already spent $381 on the hotel (borrowing from my September paycheck, so not debt because it’s currently just from my bank buffer). Now I need to figure out how to swing the flight. I’ve thought a lot about it and FinCon is a worthwhile investment because it should pay for itself over the next year. I have wanted to go to FinCon and I really truly believe this scholarship was the confirmation from God that I should be going.

Sometimes I feel like things are really hard, but then I put things like this post together and reflect on how lucky I’ve been. Next week marks my one year at my current job. What a blessing it has been that I’ve had twelve months of stable income and 8 of them to focus on aggressively paying down debt. From nine debts, I’m down to four (three-ish) to go.

Let’s talk: How did you do with your debt repayment this month?

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