April 14, 2017 Alicia Castro 0Comment

Progress – April 13, 2017  

Total balance remaining is $11,972.95   😀 

Below is a thermometer I created to keep track of how much I have paid since November 2014

 

Wow, my new student debt balance is $11,972.95.  I cannot believe that I paid over $36,000 in 30 months!  30 freaking months!  Unbelievable!  That’s 75% of the $48,000 I was carrying when I first started making payments.

I look back and remember the days I couldn’t sleep.  My student loans used to stress me a lot and I refused to let it take over my life.  I needed to figure out how to maximize my savings with minimal spending.  I used to cry on the days I couldn’t eat at restaurants simply because I wanted to save.  Back then, I refused to buy new clothes for myself.  I still wear the same clothes I used to wear 3 years ago.  Why should I buy new clothes when they still fit and look good as new?

I managed to save a lot by spending at least $25 per week on groceries.  If my food budget goes over $25, I lower my spending on the following week to keep myself on track.  I am able to do this by not buying any dairy, juices, and sodas.  Besides, I hate sugary drinks and junk food.  I hate fast food too!  Except for the chicken breast from Popeye’s.  It is very rare when I buy fast food.  I eat outside 8 times per year.  I only drink water because it’s healthy and free – I bought the Brita on top faucet water filter system at CVS when it went on sale for 75% off three years ago.  I cannot believe that thing still works.  The filter is cheap to purchase too!  I know that my food budget is crazy but I got used to it.  As soon as my student debt balance turns zero, I don’t plan to go crazy over my spending on food.  Most certainly, I don’t plan to keep my food budget at $25 per week.  I’ll probably keep my budget at least $35 per week. 

My goal is to be debt free in 5 months!

Over the next few months, I will watch every dime I earn and spend.  I do plan to use 80% of my emergency savings to pay off my student debt.  May the force be with me and don’t get sick at all.

 

 

 

 

 

 

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