About Me

I am a full time student, married to a wonderful husband. I am trying to pay off my student loans and not accumulate any more debt while in school. I am also trying to pay off our mortgage early, build up an emergency fund, and increase our contributions towards our retirement funds. Ooh and also graduate in <2 more years!

$20 Savings Challenge 2007
==================
January 2007: $547.25
February 2007: $709.72
March 2007: $1352.30
April 2007: $1441.99
May 2007: $1697.00
August 2007: $2001.29

Total Debt: (Student Loans and Mortgage)
===================
October 2006: 132,961
November 2006: 131,747
December 2006: 131,043
January 2007: 130,250
February 2007: 127,706
March 2007: 126,343
April 2007: $125,389
May 2007: 124,859
June 2007: 123,680
July 2007: 122,695
August 2007: 120, 214

Assessing Where I am

November 4th, 2006 at 06:06 pm

I went back to school much earlier this year, after leaving my job. Living on one income has been a little scarey. I have been so used to having lots of extra money and no debts (other than the mortgage). So, to have lost half of our income and acquiring new debt is a new experience.

I thought I would be okay with the debt, as I know we'll be able to pay it off quickly after I finish school and start working again (2 more years). I have decided to rethink our plan, by decreasing the amount of new debt we take on, and starting to pay off my school loans much earlier if possible.

I'm going to try to get an idea of where we really are financially right now, and work month by month to hopefully have no more debt (except the mortgage) by the time I get out of school.

-J

Posted in My Life Dreams (i.e. Why I'm Doing All This) | 7 Comments »

7 Responses to “Assessing Where I am”

LuxLiving Says:
November 4th, 2006 at 06:11 pm

Welcome J!
janh Says:
November 4th, 2006 at 07:34 pm

That's an awesome goal.
PRICEPLUS Says:
November 4th, 2006 at 09:07 pm

Welcome J! It is always a good thing to reassess where you stand financially! Good Luck we are pulling for you!
tinapbeana Says:
November 5th, 2006 at 07:07 am

nice to have you here, J! and kudos on trying to tackle debt while only on 1 income. imagine if you can get comfortable living on just the one salary, so that when you start working everything you make can get stashed....
Ima saver Says:
November 5th, 2006 at 07:32 am

Hi j, glad you are here.
genmed Says:
November 5th, 2006 at 02:34 pm

Thanks for the encouraging words and welcome from everyone. I hope we all make our goals - financial and otherwise.
Broken Arrow Says:
November 6th, 2006 at 06:28 am

Ah, I wish I was smart enough to minimize my loans and start paying as soon as possible.

Unfortunately, I wasn't, but at least I learned now instead of later.

Anyways, good luck!

A Path to Achieving My Life Dreams

Trying to stop sacrificing my dreams for immediate gratification

Assessing Where I am

7 Responses to “Assessing Where I am”

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