Wednesday, July 28, 2010

Oh boy

I'll be honest. This is the first time since I started this blog that I have been considering not doing an end-of-the-month recap, because I'm HORRIFIED at how much we've spent. Seriously, it's out of control, especially the eating out. We've been to brunch almost every weekend, out with friends...we still owe some friends a $100 dinner, and I'm going out for drinks again tomorrow.


Well, don't you worry. I'll still do a recap this weekend and see what the damage is. Peanut and I are both just a little more social than usual lately, and we're rolling with it.

In more exciting news, I made my first official student loan payment today. (I previously paid $263 to knock out the only unsubsidized loan I had to take out; the rest has been subsidized while I was in school and through my grace period which ends next week.)

I looked into consolidation again and it would just increase my interest rate by .75%. Uh, no, thanks. So instead, I scheduled a $4,000 payment against my $19,568 balance. That $4,000 was tuition reimbursement that I've received from my company that I hadn't already used to pay out-of-pocket for summer classes. I expect another $2,200 in a few weeks which will also be immediately applied to the balance. My monthly minimum payments are $225.20; I'll be putting more like $500 against them each month after the wedding, plus whatever other snowflake money I can come up with.

At this rate, Peanut and I will pay off $46,746 in less than two years. If we get really hardcore and try to live off one income and use the other for debt payment, it would take us only about a year. I'm suddenly very exciting about dwindling numbers!


  1. Thats really exciting! I can't wait till I make a bit more money so I can start saving up for school and hammering student loan debt. I can't wait to see your progress. When do you and Peanut plan on trying to live off one income? After the wedding?

  2. We definitely won't try to live off one income until after the wedding -- while we have some joint accounts, our money will remain separate until we're legally wed.


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