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Post by pattya925 on Jul 21, 2012 17:19:00 GMT -5
Had the chance to make a ridic amt of money today but am home with lil man and no regrets We had lunch with my friend, her sis, and her husband.. spent some time at a little park, played with her puppy, and watched a movie. Now visiting at my sister's before heading home in a bit... after crunching numbers, if I budget well until the next pay in two weeks, I can make my first payment towards that nasty 6.55% student loan. $352.35 paid today, bringing the balance to $4900. It's gonna be a lil tight but absolutely doable and I HAD to see that loan balance below 5K, Just had to!!!
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Post by tanya on Jul 23, 2012 8:33:13 GMT -5
Whooo Hooo! Girl you have got this!
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Post by pattya925 on Jul 24, 2012 10:11:37 GMT -5
Thanks, Tanya! Side bonus... I just realized my new balance on all student loans is $16,944.45... I about cried when I went under 20K...now under 17K and still plowing away!
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Post by pattya925 on Aug 3, 2012 11:55:32 GMT -5
Made an extra payment today... new balance $4700!
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Post by pattya925 on Aug 16, 2012 11:22:40 GMT -5
Chug Chug Chug... Another $200 (plus a small amt of accruing interest) gone! New balance $4500...
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Post by tanya on Aug 16, 2012 13:37:08 GMT -5
YAY!!!!
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Post by pattya925 on Aug 16, 2012 15:20:36 GMT -5
This is awesome!! Plus now my "auto-debit" amount is $300/mo... It was $372 to start but keeps shrinking as I pay off individual loans... I now can apply the difference to the highest interest one.. And thanks, Tanya, for always being my encouragement!
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Post by tanya on Aug 17, 2012 8:23:25 GMT -5
You are an inspiration to me! I know when the time comes for me to start paying my student loans I can look back and read what all you have done. It will keep me focused!
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Post by pattya925 on Aug 23, 2012 19:42:24 GMT -5
Irked... one of my student loans had a change in interest rate from 5.7% to 6% .. Lol, I have paid two off in full, saving thousands in interest... Guess the bank figures they will squeeze every last dime out of me - in one way or another! On a side note, though I am still staying focused on debt repayment, I am going to be likely making smaller payments as I need to allocate money to savings. The plan is to save about $220/pay to be split among several accts (home repair, tires for next year, new roof, emergency savings, vacation).. Some are long-term goals and some short-term. Picking up several extra shifts at work and still trying to keep the healthy balance between being fiscally wise and having life experiences
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Post by tanya on Aug 24, 2012 9:09:32 GMT -5
That stinks! But I know you can do it!
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Post by pattya925 on Sept 3, 2012 22:46:49 GMT -5
Half my shift is time and a half - woot!!! That's 7 hrs of 1.5x and 7 hrs regular ... That will definitely help! Loan balance is just under 4K and shrinking!
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Post by pattya925 on Sept 12, 2012 16:06:03 GMT -5
Those hours of extra time I have been working are def helping! Scheduled a payment of $250 (in addition to regular auto-debit) for this Friday. New balance is just under $ 3750! That's almost a thousand bucks in a month and a half... progress!
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Post by pattya925 on Sept 16, 2012 10:28:38 GMT -5
Just got my July child support plus a $10 rebate check. Since I have already paid all of DS10's July expenses, I am going to apply this money towards the debt. My rationale is twofold: 1. I am teaching him about fiscal responsibility and how difficult debt repayment is and 2. By paying off our debt, I am ensuring that I can give him the stability he needs. The new balance is $3495! Can't believe I am under $3500 on the biggun!! Next goal is to get under $3000. The monthly auto-debit should be taken out tomorrow as well. The savings is going ok as well. Been setting aside $220 with each pay, split into different savings categories. Money has been tight, but we are learning to live well on much less money w. an occasional splurge. We haven't touched the credit card in forever and overall, I feel much more confident about our money situation. Looking forward to the day that I have NO debt and my 6-month's income available in savings.. that day is far away but we are taking the steps we need to take.
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Post by tanya on Sept 17, 2012 11:22:29 GMT -5
That is so awesome!!!!!!
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Post by pattya925 on Sept 26, 2012 15:37:52 GMT -5
Well an increase in my property taxes means I am taking my "savings" money to apply to that this pay. Able to make an extra payment to the loan, albeit a smaller than usual one... New balance is $3300
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