We will be sharing monthly debt summaries to show our progress and use it as a way to reflect and keep us accountable and motivated. This month we paid off less than expected. A bit disappointing but we had some extra expenses. Hopefully, we can make it up in the coming months. Let’s get into it. Below is our monthly debt update.
What We Did Well
• No eating out – we are on a streak with this one and saving lots of money by sticking to our grocery budget and eating at home.
What We Can Improve
• Side hustling – we relaxed a lot in October and need up the ante for end of year.
At A Glance
7% of the total debt paid.
The Breakdown
| Account | Starting Balance | Current Balance |
| Vehicle | $2,832.30 | $0 |
| Rental Property #1 | $41,455.52 | $19,151.60 |
| Rental Property #2 | $51,290.16 | $50,771.65 |
| Primary Residence | $282,163.00 | $279,905.59 |
| Total | $377,740.98 | $349,828.84 |
Focus Debt – Rental Property #1
Sometimes looking at the big picture can be discouraging, so we like to focus on one debt at a time. It makes this large debt pill just a bit easier to swallow. The current snowball is Rental Property #1. Progress chart below.
Wins
We hit 2 milestones this month for rental property #1!
• Under the $20k mark
• Hit the halfway point with just over 50% paid
Our Goal Tracker!
That wraps up this monthly debt update. We’ll see you next month.
Find previous Monthly Debt Updates here.
How are you doing with your financial goals? Update us, we’d love to cheer you on!
With Intention,
Sean and Simone
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