Frugal-nomics Pay Off Your Debt Challenge

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How I Paid Off $13k in 11 months debt1




$13,369…that’s the amount of credit card debt I was blessed to be able to pay off in the past 11 months. But before I throw up the celebratory confetti I’ll be honest and say that if you had asked me a year ago how long I would have speculated it would have taken me to do this, I probably would have erred on the side of caution and said least a couple years.  I mean, after all I had semi-tried before and always had to resort back to using my cards in times of financial emergency….but I’ve never gotten it all paid off.

Don’t get me wrong….the commitment to “knock it all out” was loooooong overdue.  It hadn’t been enough for me to calculate the small fortune I’ve forked over to landlords in NYC rent with nothing to show for it….nooooo.  It wasn’t until I had paid over $10,000 for a 2-year acting conservatory out of pocket,  that the lightbulb went off for me. It was then that I asked myself “if I had it to give someone else….why and the heck couldn’t I do it for myself?”  I had had enough of the debt merry-go-round, and I was ready to get off. Who’s ready to come with me?!

In honor of my blog’s 3 Year Anniversary on May 19th (wow…time sure flies) I am doing something frugal, yes…but a little more than you’re used to hearing from me.  I am gearing up on May 1st for my next challenge — paying off my student loans of $8,654.65 (they were much higher before, trust me) in the next 365 days.  Let me just put my cards on the table and share that the fact that I’m declaring this publicly, scares the beejuz out of me. After all…I wanted to chronicle my credit debt pay off mission with you all before I began last year….but what if I failed — miserably? If no one knew…no one could bare witness to the peaks and valleys I had experienced along the way. But I want to conquer this one (along with anyone else who wants to join me).



WHAT: I’ll be paying off $8654.65 worth of student loan debt by any means necessary. I’m a freelancer, so having a direct deposit taken out every month doesn’t work for me….but I will take on extra work and systematically assign the respective checks for that work, towards getting the debt down.

WHEN: The next 365 days; from May 1, 2014 – May 1, 2015.

HOW: I’ll be ringing in about once a week to give you an update on my progress. Keep in mind that some weeks there may not be a lot of movement, but it’s a mini-marathon, and not a sprint.

Have any debt you’d like to kick to the curb in 2014? Done it before and have tips you want to share?  Tell me below. #FrugalnomicsPayOffYourDebtChallenge.


  1. Chris

    July 30, 2014 at

    Much luck to you. Starting on my journey of credit debit repayment myself so I can have a more carefree lifestyle in the end.

    • frugal-nomics

      February 16, 2015 at

      Thanks Chris…and best of luck to you. The possibilities are endless once we get through the debt and can invest in ourselves and our future!

  2. Esta Fiesta

    July 7, 2014 at

    Wow! Congratulations on having paid off over $13,000 in loans and best of luck trying to get rid of this last $8655! I’m in a similar position – I want to pay off my credit card in the next year.

    I’ve done something like this before – it’s simple but only if you stick to it. I budgeted myself to $120/week outside of fixed bills like rent and phones. I also did my own version of a ‘Keep the Change’ program, meaning if at the end of my week I had any money left from that allotted $120, I’d put it towards my bill (so if I’d managed to only spend $102 that week, I put the extra $18 towards my debt. Also if you have multiple incomes designate your pay from certain projects to be just for your loans.

    I’m looking forward to reading more about your journey while I work on paying down my debt too!!

    • frugal-nomics

      February 16, 2015 at

      Hey Esta, thanks for the encouragement and best of luck to you. I listen to a lot of self-improvement audiobooks like: Think and Grow Rich, the Automatic Millionaire, The Millionaire Next Door…and while I think I’ve heard of something like your approach before, I think when I heard it they suggest you spend the extra money on something you want. I like your way though where you use it to chip away at your debt. I think it helps you build momentum. Let me know how it’s going. Congrats again.

  3. credit card debt services

    June 11, 2014 at

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  4. Lorna Remy

    May 21, 2014 at

    Thank you so much for sharing. Your blog is everything. So many great tips and inspiration to read up on. I;m new to the blogging world, but that hasn’t stopped me from starting on my own journey into blogging. I will join you in this challenge if you don’t mind. My goal is to buy a new car before the end of this year and knock out some of my college debt as well. I can’t wait to share my progress with you. 🙂


    • frugal-nomics

      May 21, 2014 at

      That’s so exciting Lorna….welcome to the blogosphere! So happy you’ve set your goals and you are going after them. It’s great to have you along for the journey!

  5. Erin

    April 30, 2014 at

    LOVE IT!!!!

    • frugal-nomics

      May 21, 2014 at

      Thanks Erin….you have always been so great with debt payoff/savings — you’re such an inspiration!

  6. VintageNut

    April 28, 2014 at

    This is Awesome B! Very inspiring! I’m in it with you! Shhhh don’t have the courage to tell the amount $$$ 🙁

    • frugal-nomics

      April 28, 2014 at

      Thanks Cess! Not to worry, we’re in it together 😉

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