Tuesday, December 30, 2014

Debt, so refreshing!




It's a beautiful morning! and -13 with the windchill.  Brrrrr.

Last month I was just remarking to a friend about how I dipped a few dollars below $100k of debt.  Now after this month's payments that 6th significant figure is gone for L-I-F-E!

This just feels like such a major achievement. Woooooo! (Suck it, interest!) 

Today $100,000+ of debt feels almost incomprehensible. Huh? Why? How? Wait...What? I did that?  Yep, and now I'm back to DESTROYING it.  :)

Strangely, it feels so refreshing to only owe $99k+ of debt.  It makes me feel a lot savvier than those people who owe over $100k of debt. I mean, $100,000 of student loans? How can anyone be that dumb?  Ohh... wait...

At the very least I am glad my degree is in engineering and not something  like underwater basket weaving.

Ok, here are the numbers for December!



          Total Payments $1,579.12  ($879.12 Base and $700 Snowball)
          Total Principal  $1,514.20  (73% of Payments)
          Total Interest    $   425.70  (27% of Payments)


I think I spoke a little too soon for my debt pay off goals for 2015.  I mentioned that I hoped to pay off $21,316 worth of student loans, but I forgot to factor in how interest digs it's little claws in.  So the revised goal is roughly to pay $21,000 total towards student loans and by doing that eliminate about $15,000 of principal.  Interest, you are my B...!  I can't wait to see those numbers start to collapse in the New Year.

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