My studentloan; The final frontier!

Sorry for the lack of blog-updates these past two weeks. Work has been rather crazy and I’ve had a stomach-bug so I haven’t done much besides work and spend a lot of time in bed!

Back to business today though starting with my student loan!

As of today I owe $3,393.41 since beginning to tackle this loan at the beginning of the year when I owed close to $16,000 I’ve made quite a bit of progress while still allowing myself a little bit of fun (um for examples check  here, here, here and here)

It’s time to make a plan to get rid of this beast once and for all so this is what I’m going to do.

1. This week: On Friday I plan to make a payment of $1,114.76 and I will owe $2,218.65

2. A payment plan; Since the holidays are coming up and I haven’t bought any of my gifts yet I’m planning a little bit more conservative for the month of December;

December: $600 payment ($1,618.65 left)
January: $900 payment ($718.65 left)
February: $718.65 or whatever is left!

This means that at the very latest I will have my student loan paid off IN FULL by March 1st, and really that’s only 3 months and a week orso away. You’ll see that I didn’t account for any interest on the loan, it’s not a huge amount since it’s only 4% so I neglected to include that and it should make very little difference in the timeframe I’ve picked out.

So how about you, how are you doing, still managing to keep the debtsnowball going with all these (expensive!) holidays coming up?

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2 Comments

  1. I’m letting my debt payoff make me a bit of a stooge over Christmas. Sure, I could buy everyone $100 gifts, or I could commit to my loan payment and come up with a creative way to spend only $100 total on gifts, like the Saved Quarter.

  2. You’re so close! Yay! I try to keep a check on my Xmas spending, it’s so easy to go overboard and all the little things get me, like a $10 gift here and there. I’m hoping that keeping a running list of my spending will help me stay on budget.

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