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Goals: 1. get current on student loans (currently owe like....2k in order to make them current) 2. start paying regularly on the loans, and on the one I am defaulted on (Thankfully it has no interest now, but I can only pay it over the phone....) 3. make sure I just keep doing this 4. try to consolidate my discover loan, which is now at 12% interest, which is insane I have about 80k in student loans with an income of 32.5k or so before taxes... no bach though.......rear end degree though. I still can't budget for poo poo so I'm relying on my SO to help me budget/pay for these (mint/ynab doesn't help me, I need a physical verbal reminder) I also have over 1k in my job's HSA, if that matters I guess... other goals: stop smonking (2 packs a week) drink less (lol yeah right) probably about $100 a month budget atm keep our food budget below $250 (we recently spent $150 this month to make 5 freezer ready meals and I can see that (even with larger portions) lasting us an entire month to feed two people) I paid off my $410 credit card debt though! GreenBuckanneer fucked around with this message at 06:56 on Jan 29, 2017 |
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Jan 29, 2017 06:47
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GreenBuckanneer posted:Goals: Status: - Got a 2k CC (not rewards version), and only have about $20 on it on auto pay. Our goal here is to just make small payments to it, and then immediately pay it off. - Got approved for another 1k CC (rewards card), and have zero balance on it (haven't gotten it yet). same use case as above for this one - I am current on all of my student loans now! - I was unable to consolidate my discover loan (12.125% Variable interest) because I didn't graduate and because this loan was sold from one loan vendor to discover, then someone bought the loan? but discover manages it?? - One of my student loans is defaulted and is in collections (this happened before my first post and I didn't realize) but it's 0% interest as long as we keep paying so we're saving that for last. - Creditwise says my credit score was 467 in March 2017, and now is 649 in November. 651 Average. Is that a lot? I don't know these things. Creditkarma backs up this number as well, as 651. That sounds amazing, almost 200 points of credit in 9 months! - Discover, Great Lakes (federal), Citizens Bank, and Navient are my current loans. - Discover was $17,000. At the highest balance it was just under $29,700 in January before I started catching up. It is on track to be paid off by January of 2019 and is around $23,100 right now. - 92.5% of all principal payments EVER MADE to this loan were in 2017. - Along the way, the Navient loan (another $20,000+) stopped qualifying for rate reduction, going from a 4% interest rate to 10.5%. That will push this loan to a later payoff but also means that it is next up in pay-off order, after the Discover. Currently set to pay off in November 2019. - By April of 2020, the highest interest rate left is 4.25% and at this point, I can choose between increasing retirement contributions or continuing blasting through the last $21,000 at this accelerated pace, for a pay-off date of January 2021. - I also started up a 401k finally! I will hit $1400 in my 401(k) this Thursday and I'm contributing 5% of my gross pay (company match = 4%). The funds are invested in a mix of four Vanguard index funds to keep fees low. - Stopped smoking 2 packs a week, now I just vape now and then. I went from $25 a month for cigs. I bought a bunch of atomizers and liquid (120ml) in May, and last purchase was June 21st. Have not smoked real cigs since then. - Drinking went to $63~ a month now, it was $89 in February (it fluctuates sometimes) - Paid off 2 medical bills, and have less than $500 in the HSA now, but that's growing too. Company contributes $300 a year. Some graphs:  Discover progress:   Overall net progress:  TL;DR: 1. Increased personal net worth by 12% in 10 months. 2. Got $3,000 of available credit card potential 3. Got current on all my loans, and started making avalanche payments to them, with a current payoff of January 2021 for currently 84k in debt. I started off at 94k in February or so. (I realize my previous post says 80k, but that was incorrect information.) 4. Stopped smoking and started vaping, reduced drinking somewhat. 5. Food budget went to $230 from $250 6. Paid off 2 medical bills I forgot about since 2015. Subnote: A lot of this progress has been due to YNAB (You Need A Budget) software, so if anyone needs a referral (the screenshots are from that) just PM me. I am pretty proud about my progress. What do you think?
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Dec 1, 2017 22:09
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