Tag Archives: debt

Debt free by 30 progress – June 2017

Here is our debt free by 30 progress for June 2017!

Debt free by 30 progress – June 2017

debt free by 30 progress - june 2017

As of June 1, 2017, we are $49,716.72 in debt – a $675.14 decrease from May 2017.

Not going to lie – we didn’t make as much progress as we wanted to this month. But alas, a decrease is a decrease.

Debt free by 30 progress – June 2017 breakdown

Here is the breakdown of our debt for June 2017:

debt free by 30 progress - june 2017

Per the chart above, our debt breakdown as of June 1, 2017 is as follows:

  • Car loan – $6,522.79 (down from $6,871.30 last month)
  • Credit cards – $20,255.55 (down from $20,390.82 last month)
  • Student loans – $22,938.38 (down from $23,129.74 last month)

Here’s a breakdown of our debts on an account level:

debt free by 30 progress - june 2017

Debt free by 30 progress – June 2017 updates and notes

  • This is our smallest decrease in debt yet. Granted this is only our second month doing these monthly updates, but still – seeing less than $1k of progress doesn’t feel any good.
    • Also, we made negative progress on Credit Cards #2 and #5. Rookie mistake – we paid these bills a day late. #facepalm
  • The plus side is we’re under $50k of debt officially! Even though we didn’t make as big of a dent as we should have this month, seeing the numbers go from $50k+ to $49k+ did feel the tiniest bit satisfying. Now to get to $48k… then $40k… then $20k… you get the picture 🙂 Baby steps, people!
  • On the side income front, nothing really happened this month. I listed some clothing items on eBay in May (see the vlog here) and was completely discouraged when nothing sold in May. But right when June 2nd hit (the day after I gathered all these numbers for an update), I got my first sale! And shortly after, my second! It was definitely a lesson in patience.
    • In addition to eBay sales, we are going to try our hand at selling with Amazon FBA. This will be our side income experiment of the month. We budgeted a couple hundred dollars this month to see what kind of return we can get with this. Will keep you guys posted!

In short – not the best month in my opinion. However, the rest of June still awaits and I’m hoping to do some real damage!

How did you do with your debt this month?


Debt Free by 30 Progress – May 2017

Here is our debt free by 30 progress for May 2017!

Some bloggers have income reports, I have my debt report 🙂

Debt free by 30 progress – May 2017

debt free by 30 progress may 2017

As of May 1, 2017, we are $50,391.86 in debt – a $1,213.33 decrease from April 2017!

We’ve made a small dent in our debt free by 30 progress in this first month. It’s not exactly where we need to be, but it’s a great start I think.

Debt free by 30 progress – May 2017 breakdown

Here is our breakdown of our debt for May:

debt free by 30 progress may 2017

Per the chart above, our debt breakdown as of May 1, 2017 is as follows:

  • Car loan – $6,871.30 (down from $7,233.56 last month)
  • Credit cards – $20,390.82 (down from $21,055.37 last month)
  • Student loans – $23,129.74 (down from $23,316.26 last month)


Here’s a breakdown of our debts on an account level:

debt free by 30 progress may 2017

Debt free by 30 progress – May 2017 updates and notes

  • Juan received his yearly bonus last month, so we put that to good use (see next bullet point)!
  • We’ve completely eliminated Credit Card #1 last month! This is great because last month I predicted that we could only throw an extra $200 to our avalanche. Instead, we made it work and we’ve paid off the $500+ balance on CC#1! Woo hoo – bye Felicia 27.99%!
  • As far as side income goes, we haven’t really started quite yet. However, this month we are planning on selling a bunch of our clothes and other items around the house online. Probably on eBay, but if you’ve got a suggestion on where we could sell that you find is better than eBay  – let me know in the comments!

All in all – so far, so good. Paying off Credit Card #1 entirely was a great motivation boost! Also, I know exactly what we need to work on (cough SIDE INCOME cough).

Let’s do this!


The state of our debt – April 2017

This post wasn’t easy to write.

In fact, I’ve been dreading it for months.

But in my recent declaration of becoming debt free by 30, I promised to document our journey to becoming debt free on this blog – including the ugly numbers.

So, here we go…

The state of our debt – April 2017 – $51,605.19

As of April 1, 2017, we are $51,605.19 in debt. And that ain’t no April Fools joke.

Alright, alright – let me have it! I can already hear the groans, the disappointment, the eye rolls all the way from here! I know, our debt is unbelievable to me, especially because I can read back to a previous post on this blog where I’m literally describing how close I am to debt-freedom. *sigh*

Life moves fast, y’all.

The state of our debt – April 2017 breakdown

Let’s get into what kind of debt we’re in. Here’s our breakdown:

State of our debt - April 2017

Per the chart above, our debt breakdown as of April 1, 2017 is as follows:

  • Credit cards – $21,055.37
  • Student loans – $23,316.26
  • Car loan – $7,233.56

The state of our debt – April 2017 updates and notes

  • Even though all of our non-mortgage debt fits into three categories, it is made up of fifteen different loans (see below).
  • We have decided to tackle our debt using the debt avalanche method. This means we’re paying the minimum payment on all of our debt and any overage is going to the debt with the highest interest rate. The order of the payoff of these 15 loans is as follows: State of our debt April 2017
  • I mentioned in my first post of debt free by 30 that we can only afford the minimum payments on our debt. Well, this month, we’re vowing on throwing an extra $200 to Credit Card #1. It’s not as big of a dent as I’d like, but it’s a start. Hopefully next month we can pay off Credit Card #2 completely.

*Deep breath* Alright. There it is – all of our debt in its ugly, all-consuming entirety. The first step is acceptance and knowing your numbers. Well, $51,605.19 is our number.

We’ve got a lot of work to do.


Debt free by 30 – our new goal

Today is my 28th birthday and today I’m calling it – I will be debt free by 30!

Debt free by 30 – our new goal

I think Juan and I are finally ready to start fully attacking our debt. Debt free by 30 is our mantra for the next 2 years and I’m committing to blogging all about it!

Debt free by 30 means getting rid of all of our non-mortgage debt by the time my 30th birthday rolls around. This also means staying out of debt once and for all!

I’ve been MIA on this blog mainly because we have been moving, travelling, and getting over sickness. But all throughout these past few months, Juan and I have been talking and talking about how we’re sick and tired of sending our hard-earned money to someone else. Well – now we’re sick and tired of talking about it! It’s time to finally do it!

Debt free by 30

Debt free by 30 – the why

Why is it so important for us to be debt free by 30? First of all, for me at least, our debt gives me anxiety. I worry about not being able to make the payments if one or both of us were to lose our jobs.

Secondly, there are so many things Juan and I would love to do (such as travel, invest more time in our hobbies, and saving more for our retirement), but instead of saving up for these things, we’re throwing money at our debt.

Overall, becoming debt free by 30 will allow us to say “yes” to more things we actually want to experience and “no” to things we are simply doing just to make our debt payments.

Debt free by 30 – the challenges

Debt free by 30 will be a huge challenge for us. First of all, we have a ton of debt! More on the actual numbers later. Secondly, we’ve got some other non-debt financial goals this year we want to crush.

Lastly, we only have enough room to pay the minimum on our non-mortgage debt. Paying the minimum on our debt will have us debt free in approximately 5 years – by then I’ll be 33 and although “debt free by 33” does roll off the tongue better, I still prefer to be debt free by 30. The sooner, the better!

Debt free by 30 – the how

Obviously, we won’t be debt free by 30 if we’re paying the minimum payments on our debt – that’s simply not going to cut it. So, first thing’s first – we’re going to commit to pay more than the minimum each month.

The second thing we are committing to is increasing our income. We are both your average 9-5ers with decent income for our location, but we need more if we want to truly be debt free by 30. So we’re going to commit to build a side hustle or two with the goal of the extra money going immediately to our debt.

Debt free by 30 – accountability

At work, we have these things called “BHAGs” which stands for Big Hairy Audacious Goals. That’s what becoming debt free by 30 is for us – it’s big, it’s hairy, and it’s incredibly audacious.

The only way we can conquer this BHAG is to continually track our progress these next couple of years. That’s where this blog will come in. I hope to update the blog with our debt progress monthly as well as any updates on our side income. I’m also hoping to post more vlog-style updates on the Lisa vs. the Loans Youtube channel.

Debt free by 30 – who’s with us?

I know we’re not alone. If you haven’t turned 30 yet and are sick and tired of your debt, feel free to join us! I want to hear all about your goals and would love it if we can all encourage each other in this effort.

Take the Debt Free by 30 pledge with me and don’t forget to follow me for updates on this BHAG of ours!


Our 2017 financial goals

Our 2017 financial goals

Here our 2017 financial goals! I hope it’s not too late to share these 🙂

Sure, it’s a few weeks past New Years Day, but cut me some slack! We’ve been super busy over here because – surprise – we’re moving!

We’re just moving across the Bay so we can be much closer to work. Our commute times will be so much shorter and hopefully that means more time to spend with each other and on our passion projects *cough* this blog *cough*.

Anywho, enough about that. Here are our 2017 financial goals!

We're only focusing on four financial goals in 2017!

1. Move closer to work

Well, technically – we’ve already accomplished this! In fact, on the day that this post goes live, we will be moving all of our stuff in a U-haul van with some friends.

It did take some moving around of our money to pull off. But after almost a year of living more than an hour away from work, we decided it was worth it to move closer to work. Rent ain’t cheap – but we are at peace knowing that we’re paying for the convenience of living close to work. We’ll have a lot more time on our hands, and I think that alone is worth the money we will spend.

2. Replenish our starter emergency fund

We had to dip into our emergency fund recently to cover some family things. I feel so vulnerable not necessarily having anything right now in our emergency fund. But hopefully this will get done in the next paycheck or so. We just want to get our emergency fund back to $1,000.

3. Decrease our debt by 20%

We are in a ton of debt. Seriously. It’s not good. More on those numbers in a future post.

We know it’s not possible to pay it all off in one year. Especially since we’re paying to move much closer to work. But we do want to keep debt repayment a high priority for us. So as soon as our first two financial goals are taken care of, all of our extra money will be thrown at our debt. I assigned 20% as our 2017 goal. Hopefully it’ll be more than that, though!

4. Save for travel

This year is full of travel plans! Next month, we’re going to Rome to celebrate our anniversary. In July, we have 4 weddings to attend (maybe 5). We’re going to Hawaii in November for another wedding. These travel plans are so exciting! But if we don’t plan ahead, these travel plans can really reverse all the progress on the other three financial goals we have.

So, we are going to be putting money aside each money just for travel. I know that this money would probably do better if we targeted it all to debt, but I want to make sure that we spend only cash for all of these trips. What good is debt repayment if we have to finance our trips?

So there you have it – our 2017 financial goals. I’m keeping it simple this year. Four financial goals is totally doable. The less we have to focus on, the more damage we can do to each of our financial goals.

What are your financial goals this year?

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