Paying off my Student Loan & Car Loan!
By Mrs Money on May 22, 2009 – 6:16 am -
It’s been awhile since I’ve updated on our car loan and student loan balances. As you can see by the nifty tracker on the right side of my blog, as of today we’ve paid off 67% of our student loan and 44.8% of our car loan. Add those together, and it looks like we’ve paid off 111.8% of our debt. Too bad we’re not over 100% on one of those! I can’t wait until that day!!
Remember when I thought I was going to lose my job? The company says they are not going to lay off anyone in the branches from the branch manager level down, so I’m feeling semi comfortable as far as my job goes. I’ve come to the realization that I’ve got a pretty good emergency fund set up, so any extra funds can go towards these two debts.
I’m shooting towards paying off the student loan by the end of the year. I think that’s definitely doable. How is your debt payoff coming along?
Posted in My Debt Reduction | 11 Comments »
May 22nd, 2009 at 1:17 pm
Go go go! You can do it!
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May 23rd, 2009 at 3:14 pm
Awesome! It seems like the banks are starting to turn around, that should be good news for you. I’m pretty comfortable in my job too, definitely helps feeling safe when the world is so unsettled. Good luck with wiping out that debt!
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May 26th, 2009 at 7:05 pm
Thanks, Kacie and Miss M! I can’t wait to be debt free!
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May 27th, 2009 at 12:43 pm
Having a paid off car is one of the most wonderful feelings (besides having a paid off home). I paid off my car last year and I never want another car payment again!!
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May 28th, 2009 at 5:37 pm
Single Guy Money- That’s awesome! I am sure my time will come soon!
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May 29th, 2009 at 12:29 am
Paying off my Student Loan & Car Loan!…
It’s been awhile since I’ve updated on our car loan and student loan balances. As you can see by the nifty tracker on the right side of my blog, as of today we’ve paid off 67% of our student loan and 44.8% of our car loan. Add those together, a…
June 17th, 2009 at 6:23 pm
Isn’t the interest from a student deductible indefinitely below a certain income level, while you get nothing for the car loan? Why not focus everything on the car loan first?
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June 22nd, 2009 at 5:40 pm
Jamison- We’re so close to paying it off and the interest’s tax deductibility wasn’t fantastic, so we decided to knock that out first. We bought the car last August and hadn’t planned on getting a new car.
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January 29th, 2010 at 8:18 pm
you guys are doing great! It is worth every struggle. Debt free is the way to go!!
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Mrs Money Reply:
January 29th, 2010 at 8:38 pm
Doug- Thanks! I am sure that this year is the year we will become debt free except for the mortgage!
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March 10th, 2010 at 9:08 pm
Hello. My wife and I bought our house about 6 months ago. It was a foreclosure and we were able to get a great deal on it. We also took advantage of the 8K tax credit so that definitely helped. We did an extensive remodeling job and now I want to refinance to cut the term to a 20 or 15 year loan. Does anyone know any good sites for mortgage information? Thanks!
Mike
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