How Much Debt Did We Pay Off in 2016?

Debt Payoff

Happy Saturday!

I can’t believe the first month of 2017 is almost over. I hope everyone is still sticking to their resolutions/goals for the year. You can do it!

We made a goal two years ago to pay off our $145K+ of debt in 3.5 years, and let me tell you… we are still sticking to it!

I almost cancelled my subscription  for this blog at the end of 2016. I wasn’t writing anymore. I was/am having difficulty finding time to write. I subconsciously forgot to cancel before it automatically renewed. I kept getting the notifications that it was going to renew but just never followed through with the cancellation.

It made me realize I need to take this blog to the end of our journey. Its ok if I don’t post as often as blogs on blog writing tell me too. Its ok if I don’t reach as many people as I would like too. I started this blog to help keep us accountable and to inspire others and show others they, too, can pay off their debt. You know what? It has done both.

Folks (a few) have reached out to us and told us we inspired them. Even if it is one person, it is still one person that took a step to change their financial life.

Even though I haven’t blogged in over 6 months, it absolutely does not mean we stopped tackling our debt. Two years in and we are still going strong.

So enough blabbing, how much debt did we pay off in 2016?!

$59,464.11 – Wowsers!

I really wanted to get to $60,000 but our Christmas gifts got a little out of hand. Oops.

The actual reduction in our debt was $55,889.11, meaning $3,575 went towards interest. Yuck. That is better than 2015 though!

As of the first week of January, we have $56,666.04 left to pay off!

With this post, I just really wanted to show that we are still around. We are still doing it and we don’t plan on stopping any time soon.

I have a few things I want to post about in the upcoming weeks (goals, comparisons, where our money went, our travels). I just don’t want to guarantee a specific time frame for them. When I feel like writing, I will write.

One of our favorite sunsets – Croatia

In the meantime, if you have questions on how we have been doing it, post a comment!

Cheers to a great year!

2 Comment

  1. I’m glad you are sticking around to blog through the end of your debt reduction! You’ve definitely inspired me.

    1. Erica says: Reply

      I am so glad! That makes it worth it. I am looking forward to getting back into the swing of things.

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