Paying off my Student Loan!

The last time I updated this, I owed $9950.00 on my student loan balance.  I am happy to say that I’ve paid $450 off and I only owe $9500!!  That feels like such a good number.  I am so proud of myself. 

I’ve been earning a little extra cash still, but not as much as I’d like. I’m hoping that with my recent decision to look for another job, that I may earn more money that I can save and throw towards debt.  I’ve got this loan at 0% interest right now, so honestly the only reason I am trying to pay it off quickly is for peace of mind.  I can’t wait to get it paid off!


My Personal Debt Reduction- updated!

Personally I love when people post their debt reduction and savings plans. I am updating my debt reduction this morning. I decided to take some money out of savings and pay on our student loan debt. I’ve also consolidated it at a much much lower interest rate. The personal peace of mind is priceless to me, so I decided it was worth it. We do still have a nice “cushion” in our savings account, but now that our student loan balance is down to a more comfortable level and I know we aren’t getting eaten alive in interest, I’m going to start saving more money for our emergency fund, a new car, and also for retirement. I’m proud to say we are under the $10,000 mark, and I hope to get under the $5,000 mark by the end of this year. I’m going to take half the money I make online and put towards this debt, and the other half I will put in savings. I can’t wait to get this paid off!


My Plan to Pay off Debt

$12,333.78. That is currently the amount that we owe on a student loan. This is our only “unsecured debt”, and I’d like to get this paid off as soon as possible. My ultimate goal to pay this off in a year, but I am not sure how well that’s going to work out.

Reading different articles says to not worry about paying off student loans, but for me, the peace of mind knowing we don’t owe as much (or any!) is worth it for me.

This is the amount of debt I will be focusing on eliminating. Any money I earn online, whether it be from eBay sales, survey sites, or whatever, I will be putting towards this. I will keep this amount updated to show what I have paid off!

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