The Big Bad Debt Number

Alright everyone. It’s time to get real and put it all out there. I was scrolling Insta and saw this post about how secrecy breeds shame. I will find the instagrammer that I saw it on and link them in this post. It made me think about how for so long, I was ashamed of how much per month I am spending on debt for things I cannot even remember what I bought. I am no longer ashamed, but motivated to stop being a slave to the debt and lender! Like NGTW says, be a Debt Slayer. I have my wooden stake and my leather on!! (get it? like Buffy and Blade 😉 )

So here is the breakdown of my big bad number and how I plan to get out of debt!

Student Loan – $3,600

Medical Debt – $1,273.72

Credit Card – $6,500

Dental – $547

Total – $11,920.72

I believe it is just a new starting point. I have paid off 4 debts before getting serious, just by the nature of paying money here and there. I have devised my plan as a debt avalanche because my highest interest rate is my highest balance. It makes sense to me because I want to stop paying ~$150 in interest every month. I know I will not have the quick successes, but if I am going to tell my money where to go, I want to make the most out of every penny! (plus I checked both ways in the debt payoff app and it was less money spent over the course of my debt marathon if I did highest interest first 😉 )

Here is my plan in avalanche form :

Item Original balance Current balance Min payment Current Payment
Victoria Secret  $                  145.65  $                          –  $                     –  $                  –
UAMS  $            203.84  $                    –  $                 –
Mercy  $            243.77  $              118.77  $           25.00  $         25.00
PCM  $            407.70  $                     –  $                 –
Velocity  $           308.00  $                     –  $            –  $              –
OB/GYN  $            291.42  $             165.42  $           25.00  $        25.00
Mercy Doc  $            537.00  $             537.00  $           25.00  $        25.00
Dentist  $            547.00  $             547.00  $         100.00  $       100.00
ER Visit  $         1,200.00  $             452.53  $         100.00  $      100.00
Student Loan  $         3,600.00  $          3,600.00  $                –  $       –
Capital 1  $         6,500.00  $          6,500.00  $         190.00  $       425.00

Consider me bought in and just past the starting line in my debt marathon.I was semi-serious the past two months, but recently I have seen so many success stories and I want that! I am happy for them and I want that freedom so badly! Over half of my pay outside of joint expenses goes to debt right now, I want that to go into investing in experiences and to see the world!

Let’s Do Work!

The Transplant Arkansan 

P.S. It is so hot in Arkansas! I am still getting used to it.

( I need a side hustle that is friendly with working full-time and student full-time, if you have any ideas, comment below and hook a sista up! )

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