tell all thursday day late but not dollar short edition

September 10th, 2009

Tell All Thursday, Day Late But Not Dollar Short Edition

Yesterday when I posted my latest post, I was reminded of all the things that frustrate me about blogging – the technological side. I’ll be the first to admit that technology has far outpaced me – when I was a kid with my Commodore 64 I was cutting edge (really!) but as things have become more complicated I have somehow become… less so. I posted that post originally at about 1:30 pm, and when it posted it went from the nice, ordered thing I had created with formatting and spacing to a big blob of type that had no form, rhyme or reason. After almost 3 hours of tinkering, re-editing, and basically pulling my hair out, I finally got it to behave. Losing a comment in the process by mistake.

Ah, computer technology. How you thwart me so.

Luckily, I found paying down my student loan this month not as complex. After starting with four debts 2 years ago – a credit card, a car loan, and two student loans (one for me and one for my spouse), we’re down to just my student loan. After paying $800 towards it this month (and $1000 last month) it is down to $5392.09. A far cry from the over $12000 it was at two years ago.

This means we’ve paid off a little over $31000 of our debt as it stood in June 2007. Our total percentage of debt paid off is now 85.21%, which means we only have ~15% to go! :)

To pay that off by the end of the year, with only 3 months of payments left, we’d have to average almost $1800 a month in payments, which unless some crazy economic thing happens to shower money upon us, is not going to happen. But, paying half that each month, or about $900, may indeed be doable. Paying off the student loan by March 2010 doesn’t sound too bad to me.

Of course, something could happen to derail that – but for today I am an optimist, and I’l got this thing in my sights. No more Ms. Nice Gal. or something. :)

And now to see if posting deletes all my formatting…. Heh.

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6 Responses to “Tell All Thursday, Day Late But Not Dollar Short Edition”

  1. congrats to you on all the progress! I know it’s a great feeling to have the end in sight – it won’t be long now! We paid our house off {way earlier than we ever dreamed} this past week and it was the most fabulous, freeing feeling ever – definitely only by the grace of God! Best wishes as you continue down this journey!

  2. Being able to actually chart and see your progress has a remarkably invigorating after effect to it :)
    Way to go!

  3. I’m so glad to see that you updated! I was worried about your family. :-)

    Hope it’s downhill all the way now!

    As somebody once said to me, “Life is what happens when you’re paying off debt.”

    I know you want to be debt-free, and I admire that, and aspire to it myself. I’ve been following you for a while. But sometimes, carp happens. Sometimes, opportunity calls.

    All this to say, I thought you were being rather hard on yourself in your last post. If you do need a new car, or a major home repair before you pay this off, that doesn’t make you less responsible. The important thing is that you’re in a MUCH better position than you were before, and a better steward of your family’s money. But if reasonable, intelligent debt happens (and I’ve pretty much come to the conclusion that it’s inevitable in this society), I hope you won’t beat yourselves up over it.

  4. ETA: We were actually totally debt-free, for about 15 minutes. (We’re older.) We had the cash for a bathroom redo I’d wanted very badly for several years. While finishing that bathroom redo, the contractors realized our hot water tank was leaking. The boiler and hot water tank were 27 years old, so it made sense to replace them with something energy efficient. So now we have a very low-interest 5K loan for the new boiler. Monthly payment 155, and a tax break (not that I did it for the tax break, but since we had to do it, I’m happy for the tax break.)

    Also, our car is on its last legs (we share one car) and we’ll probably end up with a car payment sooner rather than later (for the first time in our lives).

    All this to say, when you do pay off that SL, I would suggest that you set part of that money aside for other things. You probably have at least some “deferred maintenance”, as they say. There will ALWAYS be things that come up.

  5. So close!! It makes the dratted car’s unreliability all the more frustrating.

    Tho’ you can probably get a car for a lot less than the original debt, the things cost way too much, considering that most of us can’t get by without one. I set money aside in savings to replace mine, but over the years so many expenses have nibbled away at it and the cost of cars has gone up so much that my savings won’t buy anything other than an old junker. Wish we had decent, speedy public transportation!

  6. did you pay it off by march 2010?