The Official* 2022 Debt Smackdown!

Happy New Year! Here’s hoping that 2022 isn’t “2020, too”. Either way, we’ll be paying off some debt this year! 😀

Although YNAB is not hosting the 2022 Debt Smackdown this year, we know how impactful this is each year, so some of us volunteered to host! With over 200 participants and more than $2.4 million in debt payoff, 2021 was absolutely incredible for the debt smackdown group! We know some of us are still left with debt to knock out in the new year or you're joining in for the very first time. Either way, you've come to the right place. We'll use this group for accountability and support as we crush some (or all!) of our debt in 2022!

Thanks again to BritishMuseum for hosting for so many years, and thank you to Veronica for hosting last year! Onward to smacking down our debt!

If you want to pay off some debt this year, here's how it works:

1. List the amount of total debt that you owe. 
This step is to give you an awareness of your current debt situation. Feel free to share, this forum is a safe and nonjudgmental place. You can also decide to keep this information private, you don't have to post your total here if you are not comfortable doing so. 

2. Post in this thread the total amount of debt you would like to pay off during the 2022 calendar year. (This part is required.) 
Feel free to break down the amounts by credit card/type of debt. Also, if you have a specific plan or some ideas on how you plan to pay down the debt, you can post that too. Maybe your plan will spark some ideas for others on how to tackle their own debts!

3. Post monthly on the 2022 Debt Smackdown Sheet to track your progress. (required)
Claim a line on the spreadsheet, and post your total debt to be paid off, and the monthly amount that you send off towards it. Some people track their total payments and don't account for interest, some people account for principal only. The method you choose is up to you!

4. Check in monthly in this thread and report on how your debt smackdown is going. (required)
Bookmark this thread and sheet so you can find it quickly at the beginning of the month!

If you come across this challenge later in the year, no worries, you can always jump right in. Just put zeroes in the months where you had not joined the challenge yet, and start in the month you join in.

Pro-tip 1: You can use ctrl+F (or command+F on a Mac) to search the spreadsheet for your name when the sheet gets filled up.

Pro-tip 2: To bookmark the spreadsheet so your row is always visible (without searching or scrolling):

-       Open the spreadsheet

-       Scroll down to your row

-       Right click on your Row # all the way to the left (in column A).

-       Select 'Get link to this range'. It will copy the link to your clipboard. Then you can put it in a browser tab and bookmark the link.

-       When you click on that link, it will open the spreadsheet like normal and move to the specific row you selected.

(Thank you @Peripherie for that second tip last year!)

Last year, we paid off over $2 million! Let's make 2022 even stronger!

In the event you have any issues with the sheet - please tag or DM Orchid Falafel. You can also tag/DM mandiferous but note that neither of us are YNAB staff so we won't be able to answer right away.


*Official meaning we have a spreadsheet. Not official in the sense that YNAB is hosting this. :D

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  • Good to see you all again! I have claimed line 87 this time around. I started in 2020 with four maxed out credit cards, a phone installment plan, a car loan, and 16 student loans. Now I have one credit card balance at 20% utilization, and 13 student loans. Progress, baby!

    Discover It: $2,175.89

    Loan #4: $900.00

    Loan #5: $1,668.73

    Loan #6: $2,464.80

    Loan #7: $2,514.29

    Loan #8: $3,604.10

    Loan #9: $3,710.09

    Loan #10: $4,716.89

    Loan #11: $5,017.76

    Loan #12: $15,786.10

    Loan #13: $14,258.54

    Loan #14: $14,528.64

    Loan #15: $21,207.23

    Loan #16: $23,521.98

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    • Gold Projector This year's goal is $14,000 out of $116,075.04. If I can stretch to get total debt into the five figure range I'll be stoked ^_^

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