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Archive for October, 2023

Conquering Student Loan Debt: A $1,000 Milestone and November's $30k Challenge

October 31st, 2023 at 08:57 pm

I'm thrilled to announce that I've successfully made a $1,000 payment towards my student loan, bringing my new balance to $30,709.63, with just $5.78 in interest. I am so thankful 

Looking ahead to November, my goal is to reduce the balance to under $30,000. To achieve this, I'm planning to make a payment of $709, in addition to the expected interest of about $174. I'm keeping my fingers crossed and hoping to meet this target.

Student Loan Payment

October 30th, 2023 at 07:00 pm

Between yesterday and today I was able to make $500 in student loan payments. I've met my goal of $1000 toward this debt for the month. For November I have to cut my monthly goal payment to $500. Which means I'd only pay about $300 on the principal. $200 would go to interest. 

I'm turning 50 next year and am planning a birthday dinner with friends and I want to pay cash for it. 

Crushing Student Loan Debt - A Decade Long Battle

October 29th, 2023 at 12:16 pm

I can't help but think student loan providers are acting like loan sharks. This daily compounding nonsense is beyond infuriating!

I set out to knock off $1,000 from this loan in October, and I achieved that milestone today with my $200 payment. When it eventually updates, my new balance, excluding the absurd estimated interest of $17, will stand at approximately $30,988.00. It's taken me a whopping 10 years of relentless payments, even during COVID, to finally dip below my original borrowed amount. SMH!

Tuesday can't come soon enough – it's payday, and I'm ready to hurl another $300 at this never-ending debt. My mission: squeeze out $1,000 a month to get rid of it. πŸ˜€πŸ’Έ

Side note, my ex figured out how to pay for his home repair, he never asked to borrow the money, I guess with me telling him up front I had no money he got the hint. 

Ex πŸ™„

October 27th, 2023 at 01:47 am

My ex recently called, but he didn't muster the courage  to request a loan. Instead, he went on about needing $300-$400 for a home repair. If he ever decides to ask, my answer is a firm "no."

Since our breakup, it's clear that he hasn't been able to improve his financial situation, and I'm skeptical he ever will. It's unfortunate because he's a genuinely kind and caring man, but it seems he's unwilling to pull things together.

On a different note, I participated in an interview discussing the challenges of repaying student loans. I'm eager to read the article about it.

Bonus and Potential New Clients

October 25th, 2023 at 01:14 am

I've been diligently tracking my student loan, and while the way interest accumulates can be frustrating, I'm making progress.

With an upcoming bonus, I've decided to prioritize paying off my Home Depot debt since the 0% interest period is set to conclude in January 2024. I'll continue allocating any extra funds towards reducing my student loan balance.

On the business front, I've identified two potential new clients. I've already sent a questionnaire to one and an introductory email to the other. I'm hopeful that these opportunities will be new business ventures. Fingers crossed for a positive outcome!

Quick Update

October 21st, 2023 at 04:55 pm

As you all know I had the new car itch, it comes and goes. 


A family member recently bought a new car, a Lexus, and I’ll admit I was a tad bit envious, and even considered a new car as well. Long story short, i didn’t buy a new car, and got the sense that this person wasn’t happy with the purchase, they’d make little remarks. Well, finally yesterday the person mentioned that it was the worst thing they could have done. 


I said to this person, that I felt like they weren’t happy with the purchase. $600 a month car note, and I’m not even sure how much the car insurance is. Wow, crazy. 


I’m thankful that when I get the urge, I manage to talk myself out of it. 


Regarding  the student loan, it appears as though the interest corrected itself(?) today, either way I’m glad it’s the $5.80 vs the $11+ a day amount. Can’t wait for pay day so I can make another payment. I’m estimating the interest will be about $98 when the payment is made. 


Other news I’m turning 50 next year, I’m planning a nice dinner with a few close friends. It’s been a significant year for me, so much has happened in my life. There was a time that I attempted suicide, twice, but now the thought doesn’t even cross my mind. 


Do I get down sometimes, and still make bad financial decisions, yes. I just pick myself up by the bootstrap and keep going. It’s only by the grace of God, that I’m still here. 

Lastly I'm just sitting on my porch enjoying the R&B 90s music station and this beautiful south Florida weather




1 Hour and no Luck

October 21st, 2023 at 02:24 am

I spent a hour on hold with my student loan provider and still no luck. 

This is absolutely ridiculous. I was told that this is common practice. Meanwhile my student loan is accumulating $11+ a day in interest. 


Help! Student Loan

October 20th, 2023 at 10:00 am

I diligently monitor my student loan balance, interest, and payments on a daily basis.

On average, my daily interest rate used to be approximately $5.80, but it has now surged to $11.70, nearly doubling.

This increase is perplexing, especially since my loan balance has decreased. I plan to reach out to the service provider for clarification. Does anyone have information on where I can report this matter?


October 17th, 2023 at 02:48 am

I just came across a post where a mom shared that her mortgage is three months overdue, and she's seeking a remote job. She lost her previous job in January 2022. When someone suggested looking for an office job, she explained that her daughter uses the car for school, cheer practice, and basketball.

I've made my share of financial missteps, but if I were in her shoes with a three-month overdue mortgage, I'd consider finding a way for my kid to get to school for example the school bus if possible, carpool with a friend or I'd drop her off while I search for a job.

I  remember 2008 during the Great Recession when I took a job that paid just a little over $10 an hour to cover my rent, after being laid off, even though it was much less than what I used to earn.

I genuinely hope this woman finds a solution. I'm not judging her choices; we all do what we believe is right. πŸ™

Weekend is Over Already

October 16th, 2023 at 01:49 am

The weekend always seems to slip away so quickly; I blinked, and it was already Sunday night.

This weekend was rather packed. I had to travel an hour away for a funeral on Saturday, so I ended up spending most of my day away from home. 

On Sunday, I enjoyed a  half-day of sleep, I guess I was exhausted from the day before. I dedicated some time to inputting receipts into my financial tracking software, prepared a few meals to last the coming days, and finally got my fall decorations in place. I love fall.

 I also looked at a few budgeting items that I want to incorporate for 2024. 

While I'm not particularly eager to head back to work, I am certainly grateful for the opportunity.

Here's to a new week, everyone!

Fingers Crossed

October 14th, 2023 at 02:00 am

I have 18 days left until my next student loan payment. With daily interest at $5.85, that adds up to $105.30 in total interest. To bring my balance below $31k, I'll need to make a payment of at least $300. It's a bit challenging but definitely achievable.

I've already adjusted my budget, so I should be on track. Fingers crossed for a successful outcome!

Happy Friday!

October 13th, 2023 at 11:31 pm

Today was payday, and here's how it all unfolded:

I managed to save $1,147.50, which accounts for approximately 41% of my take-home income. It's worth noting that roughly half of this amount is earmarked for future expenses through sinking funds, but I'm still quite content.

Another chunk of $516.13 was allocated towards debt repayment, accounting for about 19% of my take-home pay.

I also set aside $490 for my everyday spending fund, which I manage using cash envelopes. This amounts to around 18% of my income.

An additional $240.52 was directed towards various bills, such as internet and phone, making up less than 1% of my take-home pay.

I allocated 10% towards tithes as part of my financial plan.

To top it off, my payment posted, and I'm thrilled to report that my student loan balance has now dipped to $31,106.85, with only $5.85 of that being attributed to interest. I'm incredibly close to breaking the $31,000 mark this month, which is a source of great excitement.

All in all, it was a  successful day on the financial front.

Exciting News on Pay Day! πŸš€

October 12th, 2023 at 02:43 am

It's that time of the week – payday Friday! And guess what? I was so pumped to have the funds I budgeted for this week's student loan payment, that I couldn't resist paying it early. No more agonizing weekend waits for the funds to post! πŸ’°πŸ’ƒ


Drumroll, please... According to my calculations, my new balance on Friday should stand at $31,148.22 for the principal, $17.70 in interest, totaling a jaw-dropping $31,165.92. πŸŽ‰ It's all part of my plan to achieve my goal of paying $1,000 a month! πŸ˜„

But wait, there's more thrilling news! The client I was anxious about possibly losing has thrown a game-changer my way.

They want me full time, and if everything falls into place, I'm ready to hire an assistant to help manage the workload.

This means the potential for an additional six-figure income this year, and even after paying the assistant, I'm looking at around $75k! πŸ€‘ of course I'll have to set aside for taxes  

If the blessings keep flowing, my student loan could be a thing of the past by June next year.

My excitement is off the charts! πŸŒŸπŸ’«

The Joy of Paying Extra on My Mortgage: A Personal Finance Journey

October 7th, 2023 at 04:13 am


In the world of personal finance, making decisions about where to allocate your money can be a bit of a puzzle. One might argue that I should have applied this extra cash towards my student loans, but there's something about paying extra on my mortgage that I just can't resist. I've been doing it consistently for over a year now, and today was no exception.


Earlier today, I made an additional payment of $60.35 towards the principal of my mortgage. It might seem odd, but I've always had this habit of rounding up to the nearest hundred. So, instead of the paying  $57.35, which would have been $300 to wards the principal, I opted for $60.35


To some, it may sound like a financial quirk or even an addiction. But for me, it's a source of comfort. I don't feel quite right when I don't do it. Each time I make an extra payment, I see that principal amount decrease, even if it's just by a little bit. Though the actual amount should have been $57.35, but that extra $2.65 makes a difference in my mind.


In a world where financial decisions can be stressful and complex, paying extra on my mortgage has become my peace. It's a small, simple act that brings me a sense of satisfaction and control over my financial journey.

$200 Spent, Not Expected

October 6th, 2023 at 04:39 pm

Checked my student loan balance and today it’s $31,381.61, of that interest is $23.61, on average the daily interest is about $5.90 a day. By Friday next week, the interest accumulated would be about $76.70, smh. I’m thankful that I can make payments, about $600 a month, but I tell you this sucks. Goal is to have this loan paid off by the end of next year. 


Changing gears, this was supposed to be a no spend month and it’s costing me. 


A while back I asked a friend to install a screen door, well the friend finally showed up. I’m thinking no more than a hundred bucks, well the friend initially quoted me $130, not bad. This friend had to leave and come back because something was needed, my new cost $200. That’s right $200. This was not a necessity but a want. I’d asked about it months ago and since the friend showed up I said okay. WTH. It’s my fault for not asking upfront the cost. I’ve learned some very hard lessons this month. One ask up front the cost before any work is done, even if it is a friend. 


I didn’t count yesterday as spend day wind today I’ll be paying for the screen. 


Edited to add that the screen looks good. 

Catching Up

October 6th, 2023 at 01:42 am

I don’t know where I got mixed up but my software didn’t match the balances of my account and what appeared online. In many cases I had less. It all started when my account was hacked and I had to create a new account using my software and I wasn’t balancing but checking my accounts online. Either way I’m back on track. 


I also started declutterring all the paper I have accumulated over the last couple of years. I’ve scanned and shredded so many items, that I can’t believe I allowed this to get do bad. I decided to do a little at a time so that I’m not overwhelmed.  


I’m just glad to be back on track with things 

Student Loan Payment Posted

October 5th, 2023 at 12:15 am

My student loan payment of $109.75 hit today so my new balance is $31,369.81. I’m hoping to get the balance below $31k by the end of the month. 


I also read that the Biden-Harris administration just approved another round of student loan forgiveness.  It includes forgiveness for 51,000 borrowers enrolled in income-driven repayment plans; I am enrolled in this program,  fingers crossed that I get the forgiveness, if not I’m still happy for those who do and I’ll keep paying. 


Other financial news today was a no-spend day so I added $4 to my challenge fund. 


The exterminator came out and didn’t charge me. He was here last week and it was $25 but I saw roaches again so he came out and re-sprayed. I offered $20 for gas and he declined. Now I’m wondering if I should add this to my challenge fund. 


Today was a great day at work, I’m so thankful that things are falling into place. 


Garbage Disposal

October 4th, 2023 at 02:11 am

Today marked a day of a lesson learned on finances,  I had to call the plumber to fix my garbage disposal, which resulted in a $40 bill for simply pressing the reset button. It turns out, my initial suspicion might have been right, but with an electrical issue and a disposal problem, I felt it was best to call for help. I am still counting today as a no spend day  Lesson learned!

Shifting gears, I managed to squeeze in a workout session, successfully checked off all the tasks on my to-do list, and I'm gradually growing more confident in my role. It's all about balance and progress. πŸ’ͺπŸΎπŸ’Ό 

Day 2 No Spending

October 3rd, 2023 at 12:24 pm

Day 2 and I didn't spend a thing, I'm so happy. I was really tempted to buy a few items but remembered that I had committed to not spending on things I didn't need. 

I went to Aldi to get grapes, their grapes are always seeet and a lot less. Any way I  was heading to Walmart to pick up a few other grocery items when I decided to purchase the bacon from Aldi. It was $3 less than what I would have paid at Walmart and $4 less than Publix. I hope it's good. 

Headed to Walmart and picked only what I needed. 

Cheers to another day of not spending. 

Student Loan Payment Posted

October 2nd, 2023 at 08:10 pm

Exciting news! My student loan payment has finally posted, and guess what? My new balance is a thrilling $31,441! πŸŽ‰ 


Since my payment on 9/29, the interest accrued is  $17.75, which means my loan is now accumulating under $6 a day in interest. πŸ’° 


There's more good news! I received an unexpected check for $200. I immediately put $100 towards my student loan, $25 into my emergency fund, treated myself to $20, and the rest went towards paying down my credit card debt. 


Next Friday is payday and I’m trying to see how I can trim the budget to get $300 to pay towards my student loan. 


It feels fantastic to make progress on my financial goals! πŸ’ͺπŸΎπŸ’Έ

Hello October!

October 2nd, 2023 at 01:28 am

October 1st is here, and I'm absolutely pumped to kickstart this month! Today marks day one of my financial reboot, and guess what? I didn't spend a single cent, not even on that tempting bacon!


As I dive into crunching the numbers, I can see that some spending categories were over the top, while others fell short. It's crystal clear—I need to step up my game.


One thing that's been bothering me is the delay in my student loan payment posting. It's infuriating because that higher balance keeps racking up interest, and the provider seems oblivious to adjusting it. SMH indeed!


Despite lounging in bed for most of the day, I managed to squeeze in a productive 20 minutes on the treadmill.


My goals for October are crystal clear: hydrate more, spend wisely, tackle that student loan balance, save diligently, and, most importantly, find joy in every moment! 🌟πŸ’ͺπŸΎπŸ’§πŸ’°