Saturday, January 30, 2016

Taking Care of Things

Now that I have paid off that nasty, hairy student loan I have been more willing to purchase the little things that are needed around the house.  I used to put off the little things so that I could save more money to put towards the student loans.  For example, I purchased a new litter mat for my cats. In store the mat costs $40 (petsmart).  I found it on Amazon for $26 (taxes included).  I needed a new mat because my cats like to claw the mat and rip it to shreds.  Until they began ripping it, it worked like a charm to cut down on the litter that they would spread across the room.

I also finally ordered a new filter for the refrigerator.  Of course, now that I ordered it, it's been back ordered.  Sigh. 

The last thing I ordered was a new set of checks.  I moved into this house 2.5 years ago and never had new checks printed.  I found some inexpensive checks online for a total of $15.93 (checks, taxes and shipping).  Bank of America was charging over $25 for the same amount of checks! 

Now, here's the confession.  I feel guilty for spending the money.  I have the money in my budget, but I still feel inclined to save and sacrifice. I should have saved some of that money to be used to replace the money I took out of savings to pay off the loan.  I can't wait for this weird mindset to dissipate so that I feel okay spending a little.  

Friday, January 29, 2016

Mortgage Payments

So when I arrived home from work yesterday I checked the mail and my yearly escrow analysis for my mortgage arrived.   The statement predicted a $182 shortage which means I can pay that $182 now or spread out during the course of the year. 

Sounds like Wells Fargo found out I paid off my student loans. 

Of course I will pay the $182 now.  I don't want my mortgage payment to go up.  In case hard times ever fall upon me, the smaller the mortgage payment the better.  I hate how it seems that the universe can sense a little extra money in your pocket. Oh well.

Now I just have to wait for the homeowner's association dues invoice to arrive...

Tuesday, January 26, 2016

New Worries

I only have time for a quick post today.  I'm already running behind as far as getting ready for work today. 

I just wanted to take a few minutes and jot down some new worries I have been experiencing since becoming debt free.  This is the beginning of a new phase of my life and now I am worried that it could all be taken away.  What if I lose my job or get fired before I rebuild my emergency fund?  What if I lose my job before I can start saving for retirement?  What if I fall back into debt? 

There's more and more of those similar thoughts brewing in my head.  I want to save money and be financially secure and I'm worried that something bad will happen before it get there.  I know my fears are irrational, but they keep popping up.  Does anyone else have this little worries creep in? 

Thursday, January 21, 2016

Mark the Day...

I am debt free!!! Well, except for my mortgage!! I pulled the trigger and pulled money out of savings to pay off my student loan.  I really just couldn't bare waiting any longer and paying $0.14 a day in interest.  I did not feel the elation that I had hoped to feel, instead I feel a bit nervous.  I pulled the money out of savings so my emergency fund is down to $8,316 (but my online savings account remains at $4,023).  I hate having my emergency fund below $10,000, but by mid- February it should be back where it was.  Less than a month away.

It's weird how being debt free is not as exciting as I thought it would be.  I felt way more excitement paying off loans and credit cards along the way. Strange...

Oh well, now I can start planning my journey to build wealth and give.  Here's a lovely snapshot of my account:

Wednesday, January 20, 2016

January Budget 16-31

$190 utilities
$100 groceries
$100 HOA dues
$79 car registration
$98 dentist appointment
$1622 student loan
$33 home alarm
$200 spending
$100 gas

I don't think I will have to pay the $98 for my dental exam because the firm just recently started providing dental insurance. However, I will probably use that money for a voluntary bar association due payment ( I am a member of a local bar association and the dues are $90).

I already paid and blogged about my student loan payment. Now, that the balance is down to $1,693, I am seriously considering paying it off- like today.  I accrue $0.14 in interest a day and I already owe $0.68.  I'm just tired of paying on this thing.  I will let you know what I decide to do!

Saturday, January 16, 2016


Yesterday was payday and I made a large payment on my one remaining student loan.  I used the entire $400 I received in travel voucher reimbursements, the $1622 I budgeted for the payment and the excess money I had left from last budget period.  The total payment amounted to $2,154!  That payment brought the balance down to $1,693 (with interest calculated through 1/31/16)!!!  I am paid up for over 9 years, my next payment is not due until May 16, 2025!!

 Literally, only $1,693 stands between me and being DEBT FREE (except for my mortgage)!!  I am pushing my pessimism aside and I am going to be debt free by the end of this month! If I am able to pay this off at the end of this month, I will have cut over 14 years off of the original repayment plan!

Thursday, January 14, 2016

January 1-15 Budget

Hey guys and gals, January is flying by and I have not had the chance to put up a new post in awhile.  Since it is almost the end of this budget period, I figure it must be time to put up my budget post! lol!
Anyways, this is how the first 15 days of January were budgeted out:

$1,480 mortgage
$592 student loan
$60 pet plan
$90 groceries
$200 spending
$100 groceries

There will be major changes coming to the budget in mid- February once I pay off my student loan and I have already made a couple of draft budgets just to see how things will fall out.  Oh I just received a $400 travel voucher reimbursement and have decided to put that money on my student loan, so I think as of tomorrow I will have the student loan paid down to about $1,800 or $1,900 (depending on my spending today and tomorrow).   Yay!

Sunday, January 10, 2016

2015 Goal Review

 I made 10 goals at the beginning of 2015.  I did a  status update on June 5, 2015 and Octotber 4, 2015. Below are the final results

1. Pay off $10,000 on my student loans.

PASS- - I paid off $20,317 on my student loans!

 2. Pay off the smaller student loan completely.

PASS- the loan was paid off in April of 2015!

3. Cash flow the dental work I have left.

4. Be a better friend to my friends.
PASSISH I was definitely there for a good friend of mine when her mother passed away this year.

5. Read at least 24 books
FAIL- I ONLY READ 18 BOOKS! I don't know what happened.  

6. Give more (time and money).
FAIL!!- I did not give much time or money to any charitable organizations. 

7. Lose weight = 30lbs. OMG!! Weight loss to date--3lbs. Sigh.

 8. Find a new job.

9. Be more positive!

10. Increase online savings account to $3,500.

Thursday, January 7, 2016

Student loan Numbers Through December 2015

I tracked my student loan payoff amounts (somewhat) for 2015.  The total amount owed at the end of each month is shown below.

December 2014: $23,650
February 2015 $22,226 
April 2015: $19,408
May 2015: $18,939
June 2015: $16,632
July 2015: $14,824
August 2015: $12,392
September 2015: $9,999
October 2015: $8,019
November 2015: $5,692
December 2015: $3,844

I paid a total of $20,317.22 to my student loans in 2015, of that amount $506.26 went to interest.  I made my final goal of paying $20,000 to my student loan in 2015!! I'm so excited that I accomplished that goal.  It was a great year for student loan payoff.  My next payment is not due for over 8 years! 

Coming soon, an analysis of how I did on my 2015 goals!

Friday, January 1, 2016

$3,000s and Happy New Year!!!

Happy New Year Everyone!!!! Welcome to 2016!!

I accomplished both of my most recent goals for my student loan! I paid over $20,000 on it in 2015 and got the balance down into the $3000s.  The exact amount owed is $3,844 (with interest calculated through January 15, 2016).  The next payment is not due until 3/16/2024! I'm so excited to have gotten the balance down into the $3,000s because I wasn't sure that I was going to make it, but I had just enough leftover Christmas money to make it happen.  See the snapshot below:

My goal is to have the loan down to $2,500 my mid-January and then pay it off at the end of January.  I will have to make over a $1300 payment in mid-January and hopefully (fingers crossed) I will receive a travel voucher reimbursement before the end of January so that I will only have to pull a small amount of savings to pay this thing off.  Boy, the idea of getting rid of the risk associated with this student loan is making me so happy!  I constantly fret about what would happen if I lose my job and can't make payments on it.  I would hate to have it paid it down so low and then have a bunch of interest accrue and raise the balance back up.