Debt Free Journey: January 2021

Looking back on January 2020 versus January 2021, there are very unique differences. For starters, we were not in a pandemic in January 2020. At that time my debt free journey was serious but not as intense as it currently is. Last year I was standing in a pile of debt valued at over $30,000. As of January 2021 my debt is valued at less than $5,000. How the heck is this possible? First, the Lord blessed me with a job where I continued to work during a pandemic. Second, simply put: budget and behavior.

I realized that when the pandemic hit (labeling this a legitimate financial emergency) my attitude towards debt repayment had to change. Intensity was the new normal. I attacked the debt using the debt snowball method and changed my lifestyle completely.

Last month I spoke about the holidays not being a surprise and my budget not budging for anything. I continue to live by the budget and keeping it in tact. After paying down an additional $2,900 and having line items left over, I am proud to have this debt down to less than $5,000!

Total Balance: $4,709.29

This month I had a few work trips that allowed me to save extra money to put towards the debt. One negative thing that happened was my initial student loan payment for January. . . My payment did not go through because I selected the wrong account to pay from. No worries though! I sent the payment from the correct account and it has processed.

All of my tax items have been received and I anticipate having my taxes filed as soon as they are being accepted. Tax returns, and some other items I will explain next time, will potentially put me at a zero balance by the end of February. If that is the case, I will be debt free one month early!

Someone may be wondering why I even bother paying student loans when the interest rates and payments have been paused. Basically I just want to get ahead and not feel like I’m drowning while repaying on recurring interest. If you would be interested in a separate post on this subject then let me know.

I continue to be amazed and give God glory for where I am at and for the ability to repay debts. There is a moment where we say, “I have had it” and get serious about where we want to be. In this case, I want to be debt free because I have had it with living a normal life of debt and living as if owing money is just a part of life. This is untrue. By not owing someone money I have the ability to live differently and make my hard earned money work for me in the end. This is the way.

Looking forward to sharing what ends up happening next month. Will I be debt free? Will I be close? Stay tuned to find out!

Be strong. Love God. Love others.


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