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End of 2020 Debt Report | Divi Monopoly

Image of End of 2020 Debt Report | Divi Monopoly

Beginning Student Loan Debts: $17,304
    Ending Student Loan Debts: $16,407.05

Beginning Credit Card Debts: $4,587.70
    Ending Credit Card Debts: $2,281.62

Beginning Car Debts Owed: $2,000
    Ending Car Debts Owed: $0

Beginning Total Debt: $23,891.70
    Ending Total Debt: $18,688.67

This year, I went ham on the purchases. Most of these purchases had dual or tertiary use cases which I can expense as business expenses during tax time next year. However, upon doing an audit on my spending habits, I can for sure tighten it even more. This year I have been more disciplined and strategic. I have been frugal, yet not insofar as to delay gratification on strategic long-term expenses. Although I could have chunked down my student debts and credit card loans even more, I chose to purchase products and services that provide long-term or time value.

I have socked away 30 to 40% of my income this year into investments, strategically chunked down credit card debts, and balance transferred the remainder to another promo rate for a 0% APR for another 12 months. All this while increasing my credit score from 740 to 781 currently.  

I started a College 529 Plan to invest in my future Masters Degree at some point, which is slowly growing in size. I also significantly invested time into my health, which has produced dividends in and of itself. 

It took me a long time to learn all of these systems on my own, but I'm glad to have had this journey. I started blogging here at www.dividendraptor.com, rebranded as Divi Monopoly, out of a long-term vision to teach unorthodox personal finance to people like myself; people who weren't taught these valuable life skills in school or by their parents. I also started www.dividendhack.comto teach people what compounding interest is and how it can change their lives by developing multiple streams of income. Thank you for tracking alongside my journey, and I hope you can track with me in 2021 as well. 

Cheers,

CEO of Divi Monopoly & Dividend Hack

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