Student loan payment kicks back up in October. I wish I was in a position to be much more aggressive with paying things off but hey, I got this thing down to just over $32,0000 when I was close to 90k, so I’m happy with that. I’ve been throwing extra when ever I can, sometimes the amount is as little as $8, by doing this for the month of July I paid $584 towards my student loans.
My fence is falling apart so I had to get a replacement, HOA requires it. I was able to pay cash (half down) to get the job started. I also took the money out of my money market account and paid off my shutters and kitchen. It stung, to take $8k out but it’s better than paying interest on a CC, and I still have enough saved to cover my expenses for about 6-8 months.
I feel like everything with the house is falling apart all at once. I had to replace my water heater, refrigerator, cabinets, and now the fence.
I also decided to do something fun for myself once a quarter. I know I should throw at debt; however, I need these breaks. Good thing is, I’m able to pay cash.
So basically I’m just bracing my self for the student loan payments to start back up.
August 1st, 2023 at 08:18 pm 1690921122
Every month, the interest amount will decrease and more will go to principal.
Do you have a list of every possible thing that could need replacing or repairing in your house - including what you have already done? You can then put it in order by a guess of ‘what’s next’ and put in estimates. You’ll see how much is already done and get a sense of what you will need to spend in the future. Your estimates won’t be exact but you’ll at least have a plan and a goal of what to save for.
And I agree with your decision to pay off the credit cards from your savings. Why give interest money away when you have the cash.
You are doing great!
August 2nd, 2023 at 01:44 am 1690940696