Breaking it all down
When I first added up all of my debt, it felt overwhelming. But once I broke it down by category, I finally saw where my money had gone — and what I needed to tackle first.
💳 Credit Card Debt
Credit Card Debt
Include:
- Number of cards – 5
- Current balances – $59,766.97
- Interest rates – avg 21.59%
- Any cards in collections or closed – 0
- Plan of attack – Not sure yet
🎓 Student Loans
Student Loans
Include:
- Total owed $15,332.90
- Interest rate(s) – 7.45%, 6.55%
- Monthly payment – $114.07
- Payment plan – Graduated Extended plan
🧾 Personal Loans
Personal Loans
Include:
- Total number of loans – 4
- What they were used for – Emergencies, debt consolidation
- Current balance – $60,793.06
- Thoughts on loans – I regret taking these on, at the time I did use them to pay off higher interest debts but things escalated and now I’m in deeper water.
- Plan for paying them off – Trying to tackle one at the time, not sure what method.
🚗 Other Debts
Other Debts
- Any Buy Now Pay Later, Care Credit, etc. – Yes, two buy now pay later, one Care Credit and one line/syncrony loan for home improvements
- Even smaller accounts that are still active – 4
- Current Balance – $18,932.60
Current State of Emotions
When I finally laid everything out — debt by debt — I was overwhelmed with emotion. The sheer weight of it was distressing, and it hit me just how deep I was in. This isn’t something I can erase overnight, or even in a year. But I’ve made a promise to myself: I’m going to give this everything I’ve got. My goal is to become debt-free within the next five years. It won’t be easy, but my eyes are on the prize — and I refuse to give up.
📊 Summary
Debt Breakdown Overview
| Debt Type | Amount Owed | Interest Rate | Minimum Payment |
|---|---|---|---|
| Credit Cards | $59,766.97 | 21.59% avg | $1213.00 |
| Student Loans | $15,332.90 | 7.025% | $114.07 |
| Personal Loans | $60,793.06 | 15.5% avg | $1736 |
| Other Debts | $18,932.60 | 14% avg | $873 |
| Total | $154,802.52 | — | $3936.07 |