42K x 30: Month 9 Update

Close, but not cigar is the theme of this month’s student loan payoff update.  I was shooting to payoff a loan this month, and it didn’t happen.  Boo.  I knew it would be tight, but finances have shifted at home and the race to payoff my student loans has to be put on hold for a bit.

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Oh well, life happens.  Even if I have to eat PB&J sandwiches for lunch every day, I’m determined to reach my goal – but keeping a roof over our head and paying the electric bill (which isn’t cheap during a heat wave!) come before student loans. C’est la vie.

  • Starting Balance: $36,279.91 (7/1/13)
  • End Balance: $35941.22 (7/31/13)
  • Paid Towards Loans$477.22
  • Interest Paid: $161.53
  • Principle Paid$310.69

Although I wasn’t even close to my goal this month, we are approaching the $35K mark! In 9 months, I’ve paid off over $6,000 in debt (and a bunch more to interest too).. so although I’m falling short of my long term goals, every month I have less debt, so that’s always good!

July Goals

  1. Pay off Sallie Mae Loan 1-07 ($737+interest)  –No 😦
  2. Pay minimum on other Sallie Mae Loans CHECK!
  3. $40 bi weekly to VSAC Loans CHECK!

There was no way I was getting close to paying off that loan this month.  And next month will be the same deal… so lets be a little more realistic for August and just hold the fort down…

August Goals

  1. Pay minimum on other Sallie Mae Loans 
  2. $40 bi weekly to VSAC Loans

So, this means I’ll have to back up my goal date for paying off this loan.  Maybe I can pay it off by the end of the year?  Reasonable goal, especially if Grams sends $20 with my birthday card and some gift cards at Christmas…(just saying).

Short Term Goals  Pay off this loans in this order (deadline)

  • 1-08 @ 6.55% (February ’13): $0
  • 1-07 @ 6.55% (April Jul Dec ’13): $739
  • 1-05 @ 6.55% (2014): $3099
  • 1-06 @ 6.55% (2014): $4989

I realize it’s hard to look so far ahead for picking goal dates to pay off other loans – as finances are a monthly changing thing.  I just have to keep my goal in mind and keep chugging along.  Maybe I won’t pay these off until I’m 31 or 32… but they WILL get paid off! And when they do, I’m gonna party like it’s 1999 – and you’re all invited!!!

Are you totally bored of me blabbing about my student loans every month?  If not, read these and then I’m sure you will be…

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8 thoughts on “42K x 30: Month 9 Update

    • Thanks, Nina – I look forward to the day I pay them off completely… then I’ll be rich! Well, not rich but at least not shelling out $1k a month for student loans!

  1. You’ve accomplished so much with the one
    s you’ve paid off. I’ve made it a goal to try and pay off my car note sitting at about 8K. It’s so close it’s making me angry to write out that payment every month. Grrrrrr. Lol.

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