We Survived January, but some of our debt didn’t.

 

Broke on Purpose January 2016 Debt Payoff Report

Paying off debt is a marathon, not a race.

This is something I have to constantly remind myself of. I’ve gotten to a point where I absolutely can’t stand that fact that we are debt. Well, nobody likes to be in debt, but for me, it’s like that itch you can’t scratch. I just want to get it over with, yet we still have so far to go. We ended the year 2015 on a high note paying off over $29,000 in debt. We wrote the vision and put it out into the atmosphere that our goal for 2016 was to pay off another $50,000 of our debt. We were going to do this by simply working our plan and trusting that God will make a way. That’s really all we can do.

The Breakdown.

We started off 2016 still working on the first student loan that popped up on our Debt Snowball list. At the beginning or January, we had a remaining balance of $6,000. This was super exciting for as the loan had a starting balance of  $21,000+.  Our goal for the month was to pay off $4000. Many of you know I work part time as a Digital Media influencer and we rely heavily on those earnings to help us pay down a lot of our debt. Unfortunately, we are in the dreaded first quarter slump and many of the freelancing gigs that I was able to do before are now far and few between. While I knew I didn’t have enough jobs coming in to help get us close to $4000 I knew that If we trusted and believed that God would make a way he’d do just that.

The Payoff

I’m excited to announce that the Wrights have paid off $3538.00 in debt this month bringing our remaining balance on the Student Loan to $2462.00! This is amazing as we are going into February knowing that if the Lord is willing we be able to officially pay off this debt in full. Once we have that one paid off we’ll be on to Student Loan number two (there’s a total of Adding the total amount we’ve paid off to this month’s total brings us to a Grand Total Payoff Amount of $33,044!

How’d We Do It?

Since we’ve started living Broke on Purpose, we’ve followed three main principles.

  1. Living a life of contentment
  2. Practicing Discernment.
  3. Living on a Written Budget.

These principles and so much more are outlined in the Broke on Purpose Ebook. This book shares exactly how we were able to pay off over $29,000 in just ten months and how we changed our way of thinking to make it happen. The Broke on Purpose Ebook now comes bundled with SEVEN new and improved printables to help you on your financial journey. Purchase the Ebook and Financial Worksheet Bundles here. Don’t want the printables? You can also purchase the book on its own here.

Broke on Purpose Ebook and Financial Worksheet Bundle FI

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