The following is a collection of financial statistics of the PayItBack household, updated monthly (last updated 6/2/21).

The Big Picture

My tracking started in 2010 when I entered medical school, and it saw my net worth drop to a low of -$219,840 in July 2014.

The largest dips represent my getting married in April 2014 (and consequently including my wife’s debt with mine), and two car purchases in July 2017 and February 2019, respectively. Otherwise it has generally been a slow steady march upwards at best, and treading water at worst.

That is until I finally finished my training, when things became somewhat more…exponential.

Debt Progress

Dec ’10:     -$21,360     -$21,360

Dec ’11:     -$54,770     -$34,410

Dec ’12:     -$93,320     -$38,550

Dec ’13:     -$137,160     -$43,840

Dec ’14:     -$219,130     -$81,970

Dec ’15:     -$215,590     +$3,540

Dec ’16:     -$200,010     +$15,580

Dec ’17:     -$219,220      -$19,210

Dec ’18:     -$221,690     -$2,470

Dec ’19:     -$236,700     -$15,010

Dec ’20:     -$147,990     +$88,710

Dec ’21:      TBD

My goal is to have our debt paid off within 3-5 years out of training, or between July 2022 and July 2024.

Time to PayItBack

The top chart is our progress toward wiping out our non-revolving debt (cars and student loans).

The bottom chart represents the amount of time remaining until these debts are gone completely, contingent upon various monthly debt payment amounts.

My current goal is for no more than $3,500 per month to go toward non-revolving debt, while I prioritize building an emergency fund and filling retirement accounts. This has changed over time, based on the movement of their variable interest rates and my desire for liquidity during the COVID-19 pandemic.

Financial Independence Date

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