Tax refund! (and other life/debt-related musings)

Woah, I was majorly surprised this afternoon when I checked my bank account and noticed this;

Surprise tax return!

What’s going on with that? I guess I shouldn’t complain but the worrier in me is immediately suspicious that there’s some sort of mistake and they’ll take it back tomorrow, highly unlikely of course. I ended up with about $800 of tax refund more than I thought I should have gotten and unfortunately didn’t get to do anything fun with it, boo! I threw it right on my student loan. Which leads me to this;

I’ve realized that I am very passionate about becoming debt-free and that I will go to great lengths to ensure that will happen. My student loan isn’t in repayment yet,  I could be paying $200 a month and take care of it slowly and instead invest my money, save it, renovate my house and take the time for a nice vacation paid in cash, of course. But I’m not doing that and although it’s ultimately liberating to go through this experience of partial deprivation to becoming debt-free I’m starting to get cabin-fever BIG TIME.

I’m human, I’m not perfect. So I’m still spending a little bit but on the other hand I’m being extremely strict with myself, I’m on a budget and it almost feels like I’m punishing myself because not all the debt I have on the student loan is debt that was necessary to go to school. I feel like at the moment I’m putting everything in my life on pause to take care of this debt and sometimes it feels suffocating. Can you tell how torn I am on this issue? It’s liberating yet constricting.

A little sunshine

I have learned so much compared to 90% of my friends and yet I feel I am losing so much time by pausing my life for a year while I get rid of the student loan. A major part of my feelings on this may be the cabin-fever issue, I love to travel, I’ve moved a lot (thrice across the Atlantic Ocean, among others) and when I am in one place for longer periods of time I long to get out.  The last time I felt these types of feelings this strongly I ended a relationship, went on a 2 week vacation, changed jobs and went to school. Am I having a quarter life crisis? Maybe I shouldn’t be writing blog posts in the middle of the night.

Hmm. On a more positive note, back to the issue at hand; When I get my pay cheque after the weekend I will have paid… drumroll…. $5,134.47 down on my student loan since  December 21sts balance of $15,551.28.  (in 3 months and three weeks, to be exact) Now that’s something to smile about! (edit: WOW, just updated my financial progress bars on the side, I’m 99% of the way there for my 2011 year end goal for my student loan… :/ nuts!)

/insert enormous happy face/ Have a great weekend everyone! 🙂

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8 Comments

  1. Nice surprise!! The debt pay off will be worth it in the end, even if it feels like there’s so much more you could be doing with the money.

    • I know I know, I’m feeling this pressure to just go for it 110% and get it done, exhilarating yet scary!

  2. You’re making some killer progress Andrea, keep it up. It’s never a bad thing to spend some money on yourself, however. It just needs to be purposeful spending. Save $100/mo for something you really want to do. Or save $50/mo for something you really would like to buy. If you don’t do any of these things then I think it’s easy to get burnt out and who knows what will happen then. I think personal finance is all about balance.

    • Very true, I’m having a hard time keeping that balance right now… I’m feeling so pumped up to get it done that I feel guilty when I ‘indulge’ you are so right though!

  3. Getting so much paid down on your student loans is AWESOME! My wife and I are trying to do the same thing, and while we don’t necessarily enjoy funneling every spare buck towards the loan, it will feel so good to get it paid off. Good post… onward to more of NBN!

    Austin

  4. Don’t worry about it, just enjoy it!

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