We may earn money from the purchase of items mentioned in this post.

Wow, another month has passed, and we are quickly closing in on the end of 2017.

I can’t believe it.

Call me a nerd, but the end of the year means I soon get to do our end of the year financial recap. Yes, I like calculating numbers, creating debt payoff projections and setting financial goals.

debt snowball motivation

I have felt defeated a lot recently in regards to our debt payoff. It feels like that stupid student loan is going to be around forever. I probably spend more time feeling defeated than empowered in our ability to get rid of this debt.

I was lamenting its existence, yet again, and the staggering amount we still have left. When I shared this with Brian, he was quick to remind me that we have come a long way. We are now under $30,000. That amount is still scary, but given where we started it is quite amazing.

Sometimes when the road gets long, we forget how far we’ve come and how many obstacles we have overcome to get where we are.

To fully comprehend how far we’ve come, I took some time to sit down and think about where we started.

Since June 2013 we have paid approximately $64,000 towards student loan debt, and we cash flowed $33,000 for the following: roof and siding on our garage, a complete kitchen remodel, refinancing our home and two vacations to Disney World.

That means in 4 ½ years we have paid off $97,000 that equals about $1800/month.

The 20 minutes it took me to collect this data was well worth it. I have a new perspective on how well we are doing on this journey. It seems like it will take forever to pay off that $30,000, but we are well over 2/3 done.

I need to stop focusing on how much faster we could have paid off the debt if we had made different choices (no vacation, no kitchen remodel, etc.).

Instead, I need to focus on the progress and just keep plugging away.

If you are working on paying off your debt, take a moment to look at how far you’ve come. Sometimes we need that reminder, so we don’t beat ourselves up, and we stay motivated.

It would be easy to see the amount you still owe and decide it will never get paid off. That type of thinking leads you to start paying only the minimum and spending your extra money on things that make you happy in the moment.

Remember a little sacrifice now will pay off in the long run.

There will be a day that you no longer have to put all of your extra money towards debt. You will be able to enjoy spending money more freely and without guilt.

Imagine a life where you don’t owe anyone any money.

Take a moment to remember why you are doing this. What is your goal?

For me, it’s a brand new couch in my living room and to be able to give generously.

debt snowball motivation

I am proud to announce that we broke the $30,000 debt mark. We now owe less than $30,000!

So here’s the update for November:

Income report from November

Money from Varage Sale                                 $38

Money from credit card cash back                  $53

Mileage check for work                                    $236

Total extra income                                         $327

Extra from paychecks                                    $623



Amount extra put towards student loan        $950



Current outstanding student loan debt        $29,950

Yes, that’s right we now owe less than $30,000.

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