Debt Free Journey: September 2020

In keeping with my vision for this series, here is another real-time update. I challenged myself to share this journey in real time because it’s easier to talk about success after the journey is over. It is often more difficult to talk about a journey as it is happening. Commence the update.

This month I was able to pay down another $2,700 of the student loan debt. Being the last day of September, I am planning at least another $80 from unused line items to pay down the debt.

Total Balance: $18, 692.36

October starts a new Fiscal Year. This is only significant in mentioning because my military orders are approved but not processed yet. By my orders not being processed I am in a position that my first paycheck will be delayed. I anticipate by mid-October I will have both pay checks deposited and I can resume my debt repayment as usual.

I do anticipate starting to pay $3,000/month starting in October, however, my current October budget is set at $2,900. The leftover line items will most likely bring the repayment amount to $3,000. Not too worried.

Not mentioned in a previous post, I dabbled in single stocks for a short time during the height of the pandemic. This is relevant because I am hoping a certain price point occurs so I can sell and use that money toward the debt. By the way, I do not recommend dabbling in single stocks just for fun during a pandemic. Stay tuned!

By the time we complete October I should be down to a student loan balance of about $15,700. Getting close to beating this thing! For those counting at home, I’ve paid off more than $11,000 since May. Praise the Lord for providing and helping me accomplish this feat. See ya next time.

Be strong. Love God. Love others.


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