Well, I’m getting there. Been doing really well with the freelance work so I should be receiving a second payment this week. My financial adviser suggested I set aside 30% for taxes, and then it might be good for me to split the remainder between savings and paying off my private law school loan. She thinks that if I do something like that, based on what my invoices have been for, I might be able to bring down the student loan from the roughly $19,485 that it is sitting at today, to around $11K. Imagine that!
However, there’s just something in me this time, that I just want to put it all into savings. I’m not sure why – maybe because that would give me the most savings I’ve ever had in the bank. EVER. So I think that’s what I am going to do with this payment, and then, going forward, do the splitting routine. There’s something about knowing these loans have been around for so long, and feeling like they’ve kept my bank balances down for so long, I feel like putting it all in the bank is like giving a giant middle finger to my loans, as in “you have no power over me ANYMORE!!!” (Did you hear me roaring when you read that? You shoulda.)
Ok, so back to reality. They do control me in a way in that I can’t just do what I want to do whenever I want to do it. But I suppose they also teach me discipline, especially lately. I just wish I had woken up to the reality of trying to really attack them more, earlier on. Instead, I just went on with life as so many of us do, paying the minimum required, or even forebearing on them, thinking I couldn’t afford to pay them then. (If only I had had my priorities straight…) But you live and you learn, as the saying goes, right?
It feels good, for both January and February, I made extra payments of $430 each month (total $860) onto that loan. Of $430, about $397 (ohhh soooo close to $400!) went to principal. That felt awesome. I’m making triple-and-a-third payments every month on that baby!
Anyway, just wanted to give you a quick update on the debt situation. But, a quick question – if the end of the world ever comes, do you think that student loans just wouldn’t matter anymore?? As in, wouldn’t it be more important for the government to keep control over riots rather than trying to get student loan dollars?? (Yes, these are the thoughts that go through my head some days…)
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