Financial Snapshot – December

This is my personal snapshot. Each month I’ll be posting our progress as we pursue financial freedom, but more importantly, pursue Jesus. I’ll have another post of our budget for the month, and how well we were able to steward what God has given us. I’ll also be posting what we are investing in and how well those investments are performing. This is going to be a hard journey that you all can now hold us accountable for. I hope the insight into our financial health would encourage you towards being financially healthy and good stewards. This financial transparency is a little scary, but I’m trusting that Jesus would help show where are hearts truly are, since that is where we put our treasures/money. If you want, you can read about the beginning of our journey out of debt.

So far, we have been paying down debt, but we haven't been treating this debt as an emergency.  Moving forward, we need to be more intense about paying off our debt, and not simply building our assets.  I'm excited about our progress, and am excited to see how well we will steward our finances and debt payments over the next couple of months.

This December update is later than I normally like to post because my wife and I recently moved in order to help reduce our expenses, morning commute, and to be closer to our church community.  My other updates will also have some funky numbers that reflect the effects of our move.

I’ve been a ReadyForZero user since Jul 31 2013.
I am using ReadyForZero to pay down my 4 debts.


 Hamlett December Debt payoff updateHamlett Debt and Cash tracker


    $17,627.74 - We actually have about $36,122 in debt. The reason why this chart only shows half of that is we have student loan debt that is being deferred while I finish my degree. That debt isn’t gaining interest, but if we make payments towards it before we are ready, and before I graduate, we will have to continue making payments. It is looming over our heads, and we haven’t forgotten about it, we just aren’t ready to tackle it just yet.  Hopefully, as we continue to make paying off our debt a priority, we can think of ways to pay off that student loan using CD ladders or other savings vehicles.


    $1,335 – this amount is from our checking as well as savings accounts.


I have paid off 0 of 4 debts, and am currently focusing on paying down Prosper Marketplace – Loan (6680).

  • Prosper Marketplace – Loan (6680)- 32.2% Interest

    • Loan – $6,248.63
    • Min. payment: $177.88
  • Chase (9900)- 22.24%- Interest

    • Credit Card- $2,687.24
    • Min. payment: $83.00
  • SECURED CARD (6333)- 18% Interest

    • Credit Card- $233.81
    • Min. payment: $25.00
  • FedLoan Servicing – Loan (0463)- 6% Interest

    • Loan- $8,458.06
    • Min. payment: $99.74


    The Prosper loan is the most daunting loan, as it collects $3 in interest ever single day.  We need to focus on making consistent payments in order to negate the effects of compound interest.  Compound interest is a lovely investment tool, but is a deadly wealth destroyer when it comes to debt.

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