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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Tue Feb 15, 2011 4:32 am 

Joined: Tue Jan 25, 2011 3:43 pm
Posts: 94
Saro, try half.com. It is a place you can buy used DVDs (and some times new). I have found them to be a lot cheaper and the quality has always been as described so I would recommend them.


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Mon Mar 14, 2011 11:19 pm 

Joined: Fri May 09, 2008 12:00 am
Posts: 132
Thanks Suz, I checked it out - it's a good resource. I've only used it to buy textbooks for my husband when he was in school.

General update:

Haven't been paid since January (yay for being a consultant!) but should be getting Jan & Feb soon. I'm looking forward to it. I want to send it all to my 'target' student loan (I've got two big ones left). After my March payment, I will be finished with that target loan and on the way to paying down the final and largest student loan. I went smallest to largest loan but they also ended up being highest interest rate to lowest interest rate.

I should be debt free by September 2011 at the earliest or January 2012 at the latest. I'm aiming for September, of course, but want to be realistic if I have any emergencies come up.

I thought about splurging once my student loans are paid off but I think that a more satisfying feeling will be to sit and revel in the fact that I am debt free.

Wow, it's almost feeling 'real' now. Exciting!!


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Fri Mar 18, 2011 10:59 pm 

Joined: Fri May 09, 2008 12:00 am
Posts: 132
Just got paid, put almost all of my 2 months salary towards my target loan. I scheduled it for later in the week just to make sure that it's processed all the way. Whew.

I saved enough for expenses and minimum loan payments for 3 months in case they take forever to pay me for March.

Expenses: Groceries and went thrift store shopping and got shoes (Under $20 for three pairs) and a drugstore.com purchase for vitamins.

I am going on a self-imposed spending ban. I am limiting my expenditures (no eating out and no more non-food shopping, thrift store or otherwise) for the next month at least. I don't feel deprived though, just really excited and close to the final goal.

After this loan is paid off (!) and I am focusing on the larger loan, I plan on giving myself a cash allowance.


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Sat Apr 09, 2011 3:43 am 

Joined: Fri May 09, 2008 12:00 am
Posts: 132
It hasn't been 'forever' but I'd really like my March payment.

Then, in turn, I'll put my entire paycheck, my current checking balance and a bit from our joint savings account to completely pay off my student loan (~20K)

Then I'm going to start with my law school loan. Currently ~98k. I should take seven months at the earliest and 12 if I take the leisurely route. I'm aiming for seven months but may delay it to build up our emergency fund, self-employment tax fund for the future or whatever is necessary...

Whew. Close but I'm so antsy. I just need to keep telling myself that I am blessed to have a good job, that pays well and in my field. Patience and gratitude.

I was over 200K in debt just three years ago. I got rid of the consumer debt two years ago but starting this last summer, I really got the opportunity to tackle my student debt. I wouldn't be able to do it without this job.

I'm already thinking about next steps, which I haven't really let myself do. Where do I want to go once I'm completely debt-free? What do I want my life to look like? I'm making notes on a business I want to start. I found a 'How to do a business plan' on sba.gov. It's been really helpful b/c it's pointed out a number of areas that I hadn't really thought of such as market analysis.

Sometimes I have moments where I think, why am I wearing thrift store shoes, I make alot? But you know what, it wouldn't feel right. I'm in debt and my thrift store shoes are quite cute ;) Another thing to think through - what should my spending priorities be? What do I enjoy? What do I not want to spend on?

Anyway, sorry for the blabber. I usually just want to post when I've made a payment but it's good to get this out of my head for a bit.


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Sat Apr 23, 2011 10:43 pm 

Joined: Fri May 09, 2008 12:00 am
Posts: 132
Got paid, scheduled a payment for later this week (just to make sure everything is cleared in the bank account!).

While it wouldn't let me make the 'pay-off balance payment', I am less than $100 away from paying off what was originally a $68K student loan.

Only one loan (albeit a big one) to go! My goal is October 2011...


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Sun Apr 24, 2011 3:53 am 

Joined: Mon Feb 04, 2008 7:35 am
Posts: 1148
Location: Maryland
Since it's your last/final payment, maybe you should call them, and schedule it that way. They probably won't let you pay it online so they can charge you a few more cents of interest. It's worth a shot, and if it's less than $100, just be done with it.

Congratulations!


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Sun Apr 24, 2011 10:12 pm 

Joined: Fri May 09, 2008 12:00 am
Posts: 132
Hi Peachy,

Thanks!!

I tried doing that with my other student loan that I paid off a few months ago and they wouldn't do it over the phone. Lame, I know. They want to drag it out, I guess!

The last time, I ended up paying much less than what they had originally projected as their payoff balance so hopefully this will be the same situation!

I am living overseas with a time difference so I just decided to schedule they payment and not put it off.


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Fri Apr 29, 2011 9:03 pm 

Joined: Fri May 09, 2008 12:00 am
Posts: 132
Yay! A student loan that was 70K (it went up from 68K to 70K) is now paid off.

Whew. 3 loans down, 1 to go. 6 months! YayYayYay!


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Sun Jun 05, 2011 9:43 pm 

Joined: Fri May 09, 2008 12:00 am
Posts: 132
Haven't gotten paid for April yet and just put in the invoice for May. They made a mistake so I should be paid for my April on Thursday. I don't have any payments, but I wanted to make a payment to my big student loan.

Oh well, at least I am getting paid soon! :)

Haven't spent very much money either, I have kept everything under $200 for the last two months, including lotion and gifts for my extended family.


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Mon Jun 06, 2011 8:41 am 

Joined: Mon Jan 21, 2008 6:40 am
Posts: 55
I am superimpressed by your dedication to paying down your last loan. It must be tempting to spend a lot more with such a high income, but you are doing a great job. :)


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Mon Jun 06, 2011 9:15 pm 

Joined: Fri May 09, 2008 12:00 am
Posts: 132
Thank you Leila!

It is tempting but I remind myself that I want to try some other things in my life where I won't get a regular salary (starting my own business & some other ventures), so not buying stuff will get me there faster.

It is also helpful not being in the U.S. - I find that I want more things when I'm there, even though I try to avoid magazines.


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Fri Jun 10, 2011 10:50 pm 

Joined: Fri May 09, 2008 12:00 am
Posts: 132
Well, my April invoice was paid this morning. I immediately did the following things:

- paid off my credit card $104 (I'm on drugstore.com probation for at least a month...well, maybe ;) ). Most of those purchases on drugstore.com were basics and things for our household. But ouch. I was planning on a little splurge with this paycheck but I think I'll wait until the May invoice comes through.

- Transferred some money to our joint savings account.

- Made a big ole payment to my student loan. It was a little painful. I knew I should do it but I had to fight off the temptation to send most of it to our savings account rather than the loan. I had a moment where I thought, "Oh, I should make minimum payments, put all of the payments in our savings and then pay off the loan all at once." Knowing myself, I truly doubt I'll be able to do that. At least I wasn't tempted to buy something!

I need to get back on the organization wagon. I have a few things to do to get more cash - but I haven't been doing it. Oh well, every day is a new day.


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Sat Jun 11, 2011 10:29 pm 

Joined: Fri May 09, 2008 12:00 am
Posts: 132
I sent in the invoice for my part-time gig. He said he'll pay it in a few days. Yay!

That money will probably just go into our joint savings account. We have some travel and other expenses coming up, so this will go to that.

I've also completely re-arranged my office. I had two rooms and 4 staff. I basically re-arranged it so the part-time worker and I share the office and the other three are in the other room. Smaller space for them but they get the better a/c and this other room has more traffic, files and conference table.

quiet. bliss.


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Sun Jun 19, 2011 10:00 pm 

Joined: Fri May 09, 2008 12:00 am
Posts: 132
I'm at the point now where it's starting to feel like a slog. I don't want to spend any money, I just want more money to pay the final loan off! We have to save up for taxes, health expenses and travel by the end of the summer.

And that just may push back the pay-off date.

I want that loan gone! I need to just think positive at this point. I've had these loans with me so long, it's almost like I can't even imagine 'not' having debt.

Oh well, I will plug away and feel blessed that I have a job and that I am so close. :)


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Thu Jun 30, 2011 4:08 am 

Joined: Fri May 09, 2008 12:00 am
Posts: 132
Checked my bank statement and saw that my June payment is going through. So I've already scheduled a huge payment to my student loan for the coming week and paid off my credit card. We didn't spend too much last month. DH spent a little but he rarely buys anything online.

Still kind of feels like a slog to me right now. I can't wait until this student loan is paid off. I can't see past it right now, it's such a huge hill to climb. Still, it's more manageable than it was this time last year (or heck, even the year before).


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