Budget Talk: Eliminating Debt

My latest obsession is watching YouTube videos of people who are working hard at chipping away their debt. I find these videos extremely inspiring and motivating, so much so that last week I took a good hard look at my own budget and in particular… debt. Of course, I currently pay what’s owing each month on each individual debt that I’ve lumped myself with, but to be honest I never pay much attention to it beyond that. Which is a mistake. I’m not going to include my mortgage in this little eliminating debt challenge that I’m sharing with you all, because honestly I think I’ll be old and grey by the time I’m done with that. However, I do have some lesser amounts, that I’m happy to share in the hope that I will inspire others to start eliminating their debt. I’m using the “debt snowball” method, and currently focusing all of my attention on my smallest debt. My goal is to completely clear that amount before the end of this year. I’m going to keep a running tally of what I pay off of the smallest debt, and bring you all along for the ride. Here’s hoping I can get this debt GONE by the end of 2015!

Paid in August: $175
Currently Owing: $2371.94