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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Fri Jul 01, 2011 8:40 am 

Joined: Fri Jul 10, 2009 6:57 am
Posts: 384
Saro,

I've been lurking for a while and I just wanted to say hang in there! I know what the slog feels like (though my numbers were not as high as yours, no judgment implied) and what impatience feels like too. When I get impatient I look back at my accomplishments, or I look forward month by month, to help myself feel like I'm making progress.

You. Are. AMAZING! You are doing something truly incredible: paying off 200K worth of debt in about four years. That would seem impossible to most people, but you are doing it!

Keep it up! You can stay the course! :clap: You can do it!

Cecily


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Sat Jul 02, 2011 9:35 pm 

Joined: Fri May 09, 2008 12:00 am
Posts: 132
Thanks Cecily! I appreciate it. You're right, I do need to look at what I've already accomplished. And I am close, much closer than I was before. I'll have paid off about $145k by the end of this week, not including the CC debt from many years ago. I'm almost there!

I also realized that I need to focus on my 'side-business' which I want to take full-time soon. So less staring at my student loan balance and more focus on my other goals.

Thank you again for the encouragement. :)


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Fri Jul 29, 2011 9:25 pm 

Joined: Fri May 09, 2008 12:00 am
Posts: 132
Just got paid for June, yay!

I checked my bank balance and it says the payment is 'processing' so I scheduled my student loan payment for later next week. I realized that my next payment, according to the company, is due in 2015. Previously, I just wrote 'please apply extra to principal amount' but this time I wrote 'Please apply all to principal amount'. I have to check if they are charging me the incorrect amount of interest.

If I push myself, I think I can pay off this loan by October (September salary but I get paid in October). Exciting!


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Tue Aug 16, 2011 3:18 am 

Joined: Fri May 09, 2008 12:00 am
Posts: 132
Just found out I have to travel suddenly and

1) will have to pay about $3k in travel and;
2) won't get paid while I'm gone.

Boooo. :doh:

Oh well, I'll be paying in cash for the travel and can swing the extra expenses, it just pushes back my student loan pay off about a month. I have a raise (backdated to 3 months ago), which should help a bit. It's not the end of the world, I've just got tunnel vision in paying off this student loan so it'll be a little frustrating, that's all. I think I'll have to push back the debt pay-off date to December...I'm trying to figure it out so I don't have to push it back, but we'll see.

At least I'm not going into debt b/c of this!


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Mon Aug 22, 2011 8:05 am 

Joined: Wed Oct 07, 2009 4:16 pm
Posts: 961
Gosh, your doing great with an awesome income and job to boot!

Keep going your almost there!

_________________
Be what you want to attract.


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Mon Sep 19, 2011 2:06 am 

Joined: Fri May 09, 2008 12:00 am
Posts: 132
Yeesh, our travel was delayed which resulted in lots of extra expenses. I'm finally back at work and waiting for my email to download. I haven't tallied up the final expenses but I know it's going to be about triple what we expected, including the lost work time. Oh well, positive points: 1) I've got some freelance work for an extra boost of income; 2) getting reimbursed for some of the travel; 2) and I'm healthy and looking forward to a promotion/salary increase!

It could be alot worse so no whining from me. I'll be adding up the final figures soon, paying off the cc bill and figuring out how much I can throw at the student loan. I sent in a huge payment while I was on break, so there has been progress.

I also need to turn in my invoice for the freelance gig. They are so quick at paying me, Bless them!


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Sat Oct 08, 2011 8:57 pm 

Joined: Fri May 09, 2008 12:00 am
Posts: 132
Well, I was able to make what I consider a 'full payment' but I don't know if I'll be able to pay off the loans by November. I have a smaller than usual paycheck coming for the month of September, and won't get paid for October until the end of December. Grrr.

I had my heart set on a full pay-off by November but now we'll see. Still I'm at less than a 1/3 of my original loan amount, so progress has been made.

I can't wait until my first paycheck that has no strings attached. WOOOO. :rofl:


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Wed Oct 19, 2011 6:38 am 
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Joined: Mon Aug 15, 2011 8:28 pm
Posts: 62
Location: Brisbane, QLD Australia
Hey Saro,
What a cool story. So are you going to be debt free end of this year, then? Thanks so much for sharing your journey! I have $29k left on mine, and I think it'll be about 12 months if done properly...
Best,

_________________
Jake
@DoMoneyBetter
domoneybetter.com

Subscribers get the new course for FREE: The Smash Sallie Crash Course! Visit:
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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Sat Oct 22, 2011 9:52 pm 

Joined: Fri May 09, 2008 12:00 am
Posts: 132
Yes, I hope so. I've been working pretty hard.

I've just had great news where I'll be hired on as an employee and my break from work can be counted as a vacation...So I may just be able to pay off my school loans next month! :clap:

I've just been imagining writing my 'success' story post. Yay!


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Sun Oct 23, 2011 5:17 am 

Joined: Wed Oct 07, 2009 4:16 pm
Posts: 961
Hey Saro, in another post you said your going to have a baby, money wise so far what are your new expenditures?

Supplies, clothes and stuff.


Congrats on the baby!

_________________
Be what you want to attract.


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Tue Oct 25, 2011 1:33 am 

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

Thanks for the congrats! We're excited!

This is what we've purchased so far:

- Cloth diaper covers: $110
*I plan on buying about $10 on flat folds/cloth wipes and that should be more than enough until the baby is at least 9 months or older (depends on the size).

- Baby Accessories (wet bag/changing pad/spray for cloth wipes): $63.75
- Used baby clothes (ebay) - 20 pieces of fall/winter for 0-3 months: $25
*I plan to buy some new onesies, some baby pants, socks and bibs and I should be set.

- 3 books & 1 DVD (baby related) $58

We still need to buy a car seat, bottles, breast pump. (estimating $300 for these)

The baby bed and blankets, we plan on getting here (overseas) for under $100
= $256.75

So, not too bad. My friends with babies have said that they didn't use 75% of the stuff they bought, especially in the first three months, so I am trying to stick to bare essentials. I figure I can buy the fun stuff once the baby is born if I feel the need. Of the three books I bought, only one is what I consider truly essential (Mayo Clinic Guide to Pregnancy). The DVD is a workout DVD and umm, I've watched it, haven't even used it. :oops:

Health care costs will probably be reimbursed by my company, but if not, they will be under $10k (probably closer to $5k). We already have saved up for this. My husband and I have a joint checking and savings account and once my student loans are paid off, I will either convert my sole bank account to a joint account or just close it.


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Wed Nov 09, 2011 3:17 am 

Joined: Fri May 09, 2008 12:00 am
Posts: 132
Still waiting for my salary (Sept/Oct) and obviously, want to get paid so I can be debt free. I was due to be paid last Friday. Ho hum. Sent in an email and copied the big bosses - hopefully it'll come through soon!


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Wed Nov 16, 2011 9:42 pm 

Joined: Fri May 09, 2008 12:00 am
Posts: 132
Well, I got paid and it was significantly less than what I was expecting, I think payroll made a mistake. I was hoping to pay this loan off and also throw some more into our emergency fund. But I had enough to mostly pay off the loan and completely pay off the loan if I used our savings. So that's what I did.

I put in a payment and it's processing. I guess since the money is still in my account and the payment is pending, it hasn't hit me yet. I certainly don't feel the euphoria that I imagined I would feel.

I did email the company right away and ask them to send me a letter confirming that my student loan is completely paid off once this payment went through. They said they would do so w/in 45 days.

Even if it doesn't feel that way yet, I guess the next phase of our financial journey has begun. We will have no student loans, completely merged expenses (I plan on closing my personal savings/checking account the next time I'm in the states) and look into buying a home. Oh, and a baby (!).

I think I'll wait a bit before posting in the 'success story' forum. I imagined doing it right away but it doesn't feel real just yet.


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Thu Nov 17, 2011 8:11 am 

Joined: Mon Feb 04, 2008 7:35 am
Posts: 1148
Location: Maryland
Congratulations!!!
I'll cheer for you now.

I paid off my motorcycle early, and wanted to post in the success stories. All my other payments went through on the exact due date, but the final payment took a week longer to process. It was so tiring waiting for the payment to go through that when it happened, I was like 'meh'. hee hee.

I can't wait to read about your next steps. Woohoo!!


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 Post subject: Re: Saro's journal - or my road out of debt...
PostPosted: Sat Nov 19, 2011 12:28 am 

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

Yes, the payment went through and I gazed at the 'Paid in Full' on my student loan account deadline. Pretty exciting but I think it'll be more fun once I have an entire paycheck to play around with!

I'm seriously battling the urge to online shop. Don't know what that is about!


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