Blogiversary: Year 1

Excuse me while I put on a bit of Tony! Toni! Toné! and host a very low key celebration of my first blogiversary. This is a rough moment in many ways but I owe it to future Ms. Afro Penny, as well as to the sacrifices made by immediate past Ms. Afro Penny, to celebrate this milestone in debt repayment and keep chugging along.

I started this blog a year ago, on July 4th 2019 with the intention of documenting my student loan debt repayment journey. In my first debt post I shared that my current debt stood at: -$133,259.74; and, I set a payoff date December 9, 2025. So, a year later, am I any closer to my goals?

As of July 1, 2020, my debt stands at -$119,119.98. That is a reduction of $14,139.76. Yay! Not bad. Not…great. If I continued at a similar rate of repayment for the rest of my desired payoff term, I would not make my goal.

While it is my usual pattern to do a deep dive into the numbers and create new and elaborate plans for what the upcoming year will bring, I’m just not mentally there at this moment. Instead I will outline my list of five very moderate goals. 

Second Year Goals

1) Move my blog from Blogger to another platform and improve the overall appearance and readability.

2)  Post at least twice per month including a student loan balance update post on or about the first of the month.

3) Establish an alternative income stream bringing in at least $500.00 more each month.

4) Reduce student loan debt below $100,000.00.

5) Refinance student loans at more favorable interest rates.

That is it. I could be a lot more elaborate with my goals and do a much deeper dive as to the feasibility of any of these goals, and perhaps I will, but for the moment, this is it.

I hope this extended weekend finds you and your loved ones safe.

My debt has an end date, but this blog no longer does. Maybe.

Originally entitled, “This debt, and this blog, has an end date.” Published July 4, 2019 on Debt End Date.

It’s July 4th and I’m starting a blog about debt (because like many Americans, I have the day off from work), so I will try to refrain from corny jokes about declaring my independence from debt. Instead, I will use this first post to explain the title of the blog (I promise, the “Who am I” and “How I got here” posts will come soon…perhaps later today. Perhaps).

During my time in debt, and I have been in debt for some time, I have followed many personal finance blogs focused on debt repayment. Many of these bloggers use their blog as a means of earning additional income to put towards their debt; although, some don’t. Something that I have noticed, which is common to many of these blogs, is that many bloggers continue to blog even after their debt is paid off. The content of their blog slowly evolving to cover topics like savings, minimalism, being frugal, etc. This is not one of those blogs. This blog, like my debt, has an end date.

UPDATED August 7, 2020

A year into blogging and my perspective has changed a bit. I find blogging about my personal finances to be (financial) anxiety relieving. I can post here and obsess over my repayment plans with little fear of censure and I don’t have to annoy my friends or family…or unnecessarily embarrass myself. My debt still has an end date, but my blog no longer does. Maybe.