Finally. It has FINALLY happened. That moment when one of your debts finally dips below the $1,000 mark. My personal loan has dipped to $987.27 with my payment of $177 made on Friday. I now have 29 days from the date of this post to get it paid off, completely. I CAN DO THIS!
Sure, I won’t have anything to show for the last payment, in that it just pays off the balance on a car I no longer have, but it’s ok. I mean, I’m not thrilled about it, but it does mean that the only debt I will have left is my student loan debt, which has been an albatross around my neck for years now. Also, what it WILL mean is this: in the last two years, I will have beaten down my total debt balance by about $28,000 if you count the beginning loan balance on my car that I bought in July 2012 (approximately $20,000 and some change). Then, it’s full steam ahead with my savings dream for my little house or RV on the west coast, and beating my private student loan into submission until it’s down and just can’t ever get up again. All before interest rates rise again!
This is what the new figures look like as of December 1st:
- Simmons loan: $23,620.04 (paying interest only right now)
- Big Daddy loan: $75,390.94 (paying interest only right now)
- LAL loan: $20,564.98
- Personal loan: $987.27
GRAND TOTAL: $120,563.23
Do you have any idea what this means?? Well, For me, I’m now worth more alive than dead!! Between my retirement savings and debt, I now have a positive net worth! It’s not much but it’s not a negative!! (Hey, I try to have a sense of humor about my debt. You have to, or you will be constantly overwhelmed.)
Having sold my TV, I watch a fair amount of YouTube videos. A line I heard last night really stuck with me. It was “you will miss 100% of the shots you don’t take.” The speaker was Bryan Binkholder and he was talking about goals. While you might google him and think he’s kind of cheesey, some of what he says is pretty accurate, IMO. I used to miss 100% of the shots because I was too afraid to try and fail.
It may not be exactly what he was touching on, but for the longest time I felt this debt was hopeless to overcome, so I didn’t even try to think of drastic steps I could take to reduce it. I felt like to be a success in life, I needed all the same things I thought everyone else wanted.
Last week, I happened to take the chance of asking if they were hiring front desk help at my gym, and that evening, I found myself talking to the manager. By studying and taking small steps to be involved in the health and fitness industry, I’m taking my “shot” and I have to say, it feels good.
Takeaway from this post – have you ever thought something felt impossible to achieve but found yourself actually doing it? It’s an awesome feeling, isn’t it? Please drop me a line below if you’ve ever felt something was impossible to achieve, or if you’ve achieved what you thought was impossible!