Sunday, January 6, 2013

December 2012 Financial Update

Oh December, How I am so happy to be wrapping you up along with the rest of 2012

This month my spending felt out of control again.  We have been hosting several guests, celebrating several holidays and traveling - very unexpectedly.

As if my $700 freakout on food last month wasn't bad enough, I managed to upstage it this month to $770.  Are there even words for that??? *sigh* I know there was Hanukkah, Christmas, guests to feed, treats to make, and traveling expenses, but it's all just too much.  Then there are the gifts.  Between Sig. O's family and mine we gifted about 37 people.  It sounds like the whole neighborhood, but it's really just my immediately family and Sig. O's small extended family.  Nearly all of the gifts were homemade, with the exception being our parents.

While I love spending time celebrating with family and friends I think 2013 is going to be the year I finally learn to say NO!

For the month of December  $1,214.31 is the total I paid towards my student loans.

                   $944.31 Minimum Loan Payments
                   $270.00 Snowball Payment divided between #2 & #3

                   $478.26 Amount to Interest (39.4%)
                   $736.05 Amount to Principal (60.6%)

                   Percentage of Principal Paid (0.63%)

I made a $20 snowball payment to loan #2 and a $250 snowball payment to loan #3.  This month I added an extra tiny snowball to loan #2 because I was so tired of only seeing $50 go towards the principal from a $155 payment. 

Just like last month, I had trouble getting my student loan company to apply my payments to the specified loans.  Again, I called the loan company, again I had to explain why paying principal was better than paying interest.  Another letter had to be faxed, but this time they decided to remove my "Paid Ahead" status.  It's a little confusing, so I will save it for its own post, but the idea is that I am moving my payoff date earlier, instead of pushing my next payment due date farther back. 

Keep fighting the good fight,


  1. Hey Andi - hope you are well. Have you considered consolidating these? (maybe you've already addressed this.. ) ;)

  2. Hey Aaron, Things always seem to be a bit stressful, but they are pretty well. I would LOVE to consolidate my loans! Unfortunately, there are not a lot of options available for private student loans. I have only found options that would end up charging me a significantly higher (although fixed) interest rate. :/

  3. Hi, Nice post thanks for sharing. Would you please consider adding a link to my website on your page. Please email me back. Thanks!

    Aaron Grey

  4. ^ I'm glad that you opted out of that option

  5. Hey Snowball we miss you!! You are such an inspiration as we work to pay down our debt, too. Hope to here an update on your progress soon!