adventures in the black

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galactic
Posts: 580
Joined: Sat Dec 29, 2007 9:30 am

adventures in the black

Postby galactic » Sat Jan 08, 2011 6:11 pm

we got out of the red and into the black for the first time in late 2010. figured it was about time to start up a new journal for the new phase.

goals for right now include:

1. knocking out the rest of our student loans
2. building up retirement savings
3. building up the emergency fund to reflect new cost of living
4. save for a down payment on a home

galactic
Posts: 580
Joined: Sat Dec 29, 2007 9:30 am

Re: adventures in the black

Postby galactic » Thu Jan 13, 2011 9:37 pm

i'm really annoyed at how long it's taking to get a direct deposit moved from our old bank to the new one. we've been writing ourselves checks from the old account and then depositing them at the new bank, but there's usually several days of delay using this method.

this is really not a desperate problem or anything. we have food, the rent is paid. frankly that's better than we're used to. but the sooner i send the payments off to sallie mae, the less money gets frittered away.

i'm thinking if we stick to this very heavy payment schedule, we can be done with these loans in 2 months (or less, maybe). i've got 25% of the remaining balance scheduled to go in as a payment, but i can't click that "send payment" button till this stupid deposit clears!

every drop in balance is a reward. especially now that we're at that point where each payment makes a really giant dent in the balance.

galactic
Posts: 580
Joined: Sat Dec 29, 2007 9:30 am

Re: adventures in the black

Postby galactic » Wed Jan 19, 2011 8:36 pm

payment applied. it's really great to see that loan balance drop so much lower. it's very motivating. just a few more of these payments...

unfortunately the net worth trend is moving laterally this month after quarterly estimated tax payments. took a chunk out of the tax savings account.

galactic
Posts: 580
Joined: Sat Dec 29, 2007 9:30 am

Re: adventures in the black

Postby galactic » Sun Jan 30, 2011 10:30 pm

another sizable payment heading out this week. barring anything unexpected, we will be serving sallie mae a final eviction notice the second week of march. she will be out of our lives for good. that day can't come soon enough.

suzwantstobefree
Posts: 94
Joined: Tue Jan 25, 2011 3:43 pm
Contact:

Re: adventures in the black

Postby suzwantstobefree » Mon Jan 31, 2011 4:40 am

Galactic,

It is such a good feeling to pay off the student loans. It will feel great once you can finally push the button for the last time!!!

galactic
Posts: 580
Joined: Sat Dec 29, 2007 9:30 am

Re: adventures in the black

Postby galactic » Wed Feb 02, 2011 10:30 pm

thanks Suz! i'm really looking forward to having this shored up. all that school was enough work- paying it off makes for a nice, final closure.

t-minus 2 days until the next payment goes out. i've got just over 25% of the remaining balance ready to send. drop, principal, drop!!!!!

our net worth calculations come to just shy of $13k at the end of january (not including non-liquid assets and checking account balance, but this is what we feel comfortable counting). we hit the black in mid october- that's just 3.5 months ago! i feel like we're playing an intense game of catch-up. i think after this loan is paid for, we are going to need to reward ourselves a little for buckling down so hard.

peachy
Posts: 1146
Joined: Mon Feb 04, 2008 7:35 am
Location: Maryland
Contact:

Re: adventures in the black

Postby peachy » Fri Feb 04, 2011 6:52 am

You definitely need a reward. Go to Jaleo for dinner! hee hee.

You are so inspiring the way you pay things off, and get your money saved up so quickly. Have a great weekend. :)

galactic
Posts: 580
Joined: Sat Dec 29, 2007 9:30 am

Re: adventures in the black

Postby galactic » Fri Feb 11, 2011 9:39 pm

jaleo looks fantastic! peachy, either we need to head up your way or we'd love to meet up down here for dinner one of these days! :)

so we ran across a bit of a setback this week- a $300 up front expense to be reimbursed. fun. i had to shuffle some things around a bit. i'll get it caught up monday with the next payment. about a month from now, i'll be sending out the last payment!

we splurged on a nice high-capacity humidifier for the apartment, oh what a difference that makes! we both feel so much better. we just had a cheap little one before, and it was really insufficient. we moved that one into the bedroom. quite the luxury life we have here.

Kate1
Posts: 90
Joined: Sat Feb 12, 2011 5:47 pm
Location: Ontario, Canada
Contact:

Re: adventures in the black

Postby Kate1 » Sun Feb 13, 2011 11:45 am

Sounds like you are making great progress. Keep up the good work!

Kate
Kate

galactic
Posts: 580
Joined: Sat Dec 29, 2007 9:30 am

Re: adventures in the black

Postby galactic » Sat Feb 19, 2011 10:04 pm

aaaaaand start the countdown!

$3100

nossorc
Posts: 173
Joined: Wed Nov 12, 2008 9:47 am
Location: FL
Contact:

Re: adventures in the black

Postby nossorc » Tue Feb 22, 2011 9:33 am

Congrats on finding your way onto the bright side!...oh how I am looking forward to that day (hopefully in a couple years), your hard work and dedication has certainly paid off.

galactic
Posts: 580
Joined: Sat Dec 29, 2007 9:30 am

Re: adventures in the black

Postby galactic » Fri Feb 25, 2011 7:46 pm

thank you, Kate1 and nossorc. it's a tremendous thing, to see all that hard work realized. and nossorc, keep on keepin' on even when your goal seems forever away- that's how we got here.

found out my insurance isn't going to reimburse me for any of that $300 or the $150 that's come up since. it all goes to the deductible. argh. a setback, annoying but not insurmountable. just have to live a little cheaper for now.

countdown update: today is payday. scheduled another $1000 to go out. we're in the minimal-interest-accrual phase. so.... roughly

$2100 to go.

more soon...

fantasma
Posts: 962
Joined: Wed Oct 07, 2009 4:16 pm
Contact:

Re: adventures in the black

Postby fantasma » Fri Feb 25, 2011 7:59 pm

galactic wrote:thank you, Kate1 and nossorc. it's a tremendous thing, to see all that hard work realized. and nossorc, keep on keepin' on even when your goal seems forever away- that's how we got here.

found out my insurance isn't going to reimburse me for any of that $300 or the $150 that's come up since. it all goes to the deductible. argh. a setback, annoying but not insurmountable. just have to live a little cheaper for now.

countdown update: today is payday. scheduled another $1000 to go out. we're in the minimal-interest-accrual phase. so.... roughly

$2100 to go.

more soon...

Gosh I am stoked for you! I look foward to my turn when I can say that!
Be what you want to attract.

galactic
Posts: 580
Joined: Sat Dec 29, 2007 9:30 am

Re: adventures in the black

Postby galactic » Sun Feb 27, 2011 10:49 pm

thanks, fantasma! i kinda don't believe this is actually happening. so many years went into it. i know your day is coming too!

i can't say i've ever been excited to send someone this flippin' much of my hard-earned money, but we're into the 3-digit range with one payment to go...

$800!!!

10 more days till i send out the payoff. ten! eek!

galactic
Posts: 580
Joined: Sat Dec 29, 2007 9:30 am

Re: adventures in the black

Postby galactic » Thu Mar 10, 2011 9:47 pm

scheduled the last payment tonight. that plus tomorrow's auto-debit will give us a balance of

$0!!!

will not believe this is true until i see the zero balance on the website. still, well.... whoa.

also not believing the net worth numbers right now.


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