With the COVID 0% student loan interest rate coming to an end, I had to make a choice. I pondered whether my 3.4% interest rate which I considered low would be worth keeping so I could invest the money instead. As August was coming to an end, with a remaining balance of $4,317.17 on my federal loans, I realized I’d rather take the guaranteed return. So down to the very last day before my loan would start re-accruing interest, I…
September was a crazy roller coaster of a month when it came to my net worth. For the first time since I started tracking my net worth, despite working full time and not blowing off all my money, my net worth has gone down this quarter compared to what it was six month ago when I last reported. 3rd Quarter Net Worth I touched the elusive $250k net worth last month a couple times but it never seems to be…
Wow what a month September was. I can’t say I’m looking forward to reviewing my spending for September which is why I’m late in posting this update. I went on two vacations merely 3 weeks apart which made the month go by so fast. Although it felt a bit rushed, it was far from a bad month. I will however predict that it’s likely to be a spendy month when I assess my spending in my budget section. I just…
Welcome to my September 2020 financial progress! If you are new here, every month, I post the progress I’ve made on paying off my student loans and on my savings. I’ve done this since I first started paying down my loans in July 2017 and it has been so worth it. I do this to hold myself accountable and to share my progress with others who are also facing debt payments of their own. Debt paid this month: $880.77 Debt…
Welcome to my June 2018 student loan debt progress! If you are new here, every month, I post the progress I’ve made on paying off my student loans. I do this to hold myself accountable and to share my debt progress with others who are also facing debt payments of their own. Debt paid this month: $6,000 Debt remaining: $110,806.26 Check out my debt progress so far from the very beginning here. As I predicted, I made fewer contributions to my loans…
I have to admit, over the last 2 months, I had seriously considered stopping payments on my student loans. I can make excuses all night long but at the end of the day, I was simply losing the motivation to pay off my debt. Since I’m on the REPAYE plan and just graduated last year while making almost no income, I have $0 per month minimum payment for the next 12 months. This means I am not obligated to make payments until…
I love my loan repayment plan. Not many people can say that but not many people can also say that they are able to make $0 monthly payments with interest rates cut in half. I can and that is why I love the REPAYE plan that almost everyone with federal loans is eligible for. REPAYE stands for Revised Pay as You Earn. It is an income-based repayment program offered for those with federal loans. It is the newer, more inclusive…
With graduation season around the corner, you are probably filled with excitement to finally finish two decades worth of education and finally start entering the work field. Maybe you are currently struggling on the job hunt or feeling anxious at starting your first “adult” job. But there is also a hurdle coming your way. Now that you’ve graduated, you have to start paying your student loans. While you may be tempted to put off thinking about it while you’re in…
Responsible. That’s a word that gets thrown around by people who know me, but from the title of this blog post, many will assume that I am anything but, especially where money is concern. So how did I amass this much debt? Student loan is the answer as you may have expected. After graduating from undergrad, I went right into graduate school where the cost of tuition per year was $45,000 for my first year up to $50,000 when I finished. That was tuition by itself without the added cost of…