March 15th

I’ve made huge strides this month.

My deeply regretted car loan is finally under $17k. I made some extra payments before I started the debt snowball that gave me a bit of a head start.

One of my student loans is under the $1k mark. I’ve never had a student loan reach that amount. I made a $502 Payment on it this month that kicked it to under $1k. This was incredibly exciting. I don’t think I’ve ever been happier about such a small accomplishment. In comparison to what I still have to pay off, it really isn’t much, but I don’t care. It’s nice to see my student loans slowly fading away. I need to make some sort of ticker or counter that I can post at the beginning of each month.

So this is where I’m at now (roughly):

Debt Totals

I don’t know if I’ll be able to, but I’d like to pay off Student Loan 1 next month.

I’ve still got a long way to go, but I’m really excited to see my progress over the next few months.

My head is killing me.

I went out last night for my last, carefree spending moment for a while. I went out and had some drinks with my friend Kristina. I don’t see her as often as I should. I’m paying for it this morning. My head is killing me and I’m a little dizzy. I can’t drink like I’m 21 anymore. Mornings like this make me feel ancient.

So, today is the day. It’s March 1st. I’ve been counting down to this day for a week or so now. It’s the first day of my debt paydown. I’m really nervous about throwing a large amount of money at a bill, but I have to tell myself that it’s money I would have spent on frivolous things anyway.

The first debt I’m going to pay down is my smallest student loan. It’s comprised of 2 loans. One is from 2004 and the other from 2005 (!!!!!!!). I’ve been paying these loans since then, and the amount has stayed virtually the same since the beginning. For the last year or so, I’ve been making $100 payments instead of $70. I currently don’t have to make a payment until September.

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I’ll be attacking Group A first. If my math is right, I can pay down that full loan this month. I’ll be making my bulk payments at the end of the month just in case a big expense comes up. My job is completely commission based, so the fear of not having enough money is always there.

Money I should Have Paid My Student Loans With….

I’ve spent a lot of money on things. THINGS. This money should have gone to my student loans. I’m going to start taking some pictures of these THINGS on Instagram and cross-posting them here. Here’s the quote from my Instagram:

I’m starting a new series of pictures including things I purchased with money that should have gone to my student loans. #1 – Hamilton Beach Breakfast Sandwich Maker. I can’t return you now, so every sandwich I make with you will now save me some money. Average Panera breakfast for me $7.01. Cost of breakfast sandwich and half a grapefruit – $1.75.

I work 6 days a week and take a one week vacation every 3 months. After federal holidays, I’m working about 288 days a year. I was spending an average of $7.01 at Panera on mornings that I worked. I go other places for breakfast, but I’d say the average was no less than about $6.00 a morning. At $6.00 I’m saving $4.25 a day. That comes out to about $1224 a year. That’s $1224 that can pay down my student loans.

Not all of these things will net a profit, but at least this one did.