It’s been another month, which means it’s time to check in with our debt payments. If you’re joining us for the first time, you can read about our decision to publicly keep track of our debt here. And then you should totally participate, because watching those numbers go down each month feels good. So let’s get to it, shall we?
Logan is paying off her J. Crew Credit Card, which currently has an APR of 24.99 percent, and a minimum monthly payment of $29.
July 2012 Balance: $550.12
August 2012 Balance: $513.61
Mike is paying off one of his Sallie Mae Private Student Loans, with a current interest rate of 4.5 percent, and a minimum monthly payment of $55.
July 2012 Balance: 1,559.61
August 2012 Balance: $1,497.71
It’s time for you to give us your updates below! Remember, if you’ve paid off your debt feel free to send Mike your address and he’ll send a note to congratulate you. Not a joke! People are doing this, and he’s already taken the time to write to a few people who’ve paid off their debt.