Month 27 Update – Sallie Mae: 29,719.74 Car: 16,762.21 Total: 46,481.95

IMG_5264 IMG_5257 IMG_5229 IMG_5004 IMG_5174So as I mentioned in the last post, I now have an automobile loan. The current balance is 16,762.21 at 0% and the payments are 280/month. Next payment isn’t due until 8/14 which is almost a week after my 31st birthday. As a proactive measure I am putting $75/week a separate savings account.

 

month27update

Cutting back my student loan payment of $1,000 / month to $720 / month. I may be getting a raise next month. Assuming I receive it, my estimate is $30 / week, $137 / month $1650 a year. So that and eating out less at work ($40/wk savings) I may not have to cut back on paying things down as much as I think.

Have some household expenses coming up over the next few months that we are not looking forward to.

  • Plumbing work. The pipe running from house to the main line on the street has tree branches growing through it. This has resulted in sewage being backed up into our downstairs shower about 5 or 6 times now. We are working with a plumber to get it repaired who said the cost could run as high as $5k. He later mentioned the city would do the work for free. I e-mailed him asking him what I should tell them, went to the city and they basically said that the expense would fall on the homeowner. E-mailed my plumber back and am still waiting for an answer. Our downstairs shower also won’t get hot. It was working at one point, most likely due to a washer or bracket of some sort, but not any longer.
  • Shower – Both bf and I want a new shower. The upstairs one has mold growing in the crevices, no matter how much we clean it. Also the tub is showing wear. No idea how old both are but my gut tells me at least 20 years. I’d guess around $10k for the job.
  • Driveway – Roots pushing up on the driveway from the two trees in the front of the house. The driveway is sticking up a few inches. Have contacted the homeowners association for advice on both issues. They have been of very little assistance. Guess I shouldn’t expect a whole lot more for $99 / month. I expect this will run around $2k.
  • Dining Room – Dining room table is shot, it’s at least 8 years old and has travelled across the country. We checked out some new furniture at Haverty’s & Freed’s Furniture. This will happen around Labor Day as the sales get more competitive.

So here is an update on the Sallie Mae situation. Making progress. Want to keep it going at the same rate I have been for the last year. Momentum is power. I think worst situation is it takes me an extra year to pay things off.

 

Our cruise trip was amazing. 7 days, got to experience Roatan, Honduras, Belize City and Cozumel Mexico. A much needed break from the 8:30-5:30 shift I was working on too little sleep, and self-imposted lack of taking breaks. Too much of that cycle just made me miserable with life in general. Didn’t have the energy to go workout, to socialize, to cook diner. Just ended up feeling like a slave to work. I realize we all have crises to deal with, but making time for yourself is essential.

Here are a couple of pictures. Before this, I never left the US and was afraid of travelling. Now I’m starting to fall in love with the experience, minus the stresses of flying or dealing with unforseen occurrances.

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2 thoughts on “Month 27 Update – Sallie Mae: 29,719.74 Car: 16,762.21 Total: 46,481.95

  1. Beautiful pictures! How does it feel to now look at your total debt and see it went up? To me, that would stress me out. But then again, my debt level is so high, anything added to it would be insane!

  2. Thanks yeah we had a great time. You know there is some stress about incurring more debt. I think I went about it in the smartest way possible. I try to look longer term though and just because I have a car note doesn’t mean all my other goals are falling by the wayside. I’d say it’s more motivating to me.

    I feel like I have something nice I will cherish and get maximum enjoyment from. A friend of mine has a $600 car note with an extra year for a fancy coupe I could barely fit in. He makes about 20k more than me per year and is always stressed about money. My old neighbor in ny was dumb and bought a Maserati. He can’t even take care of his kid or help his mom with work around her house so perspective is key too… 🙂

    0% is huge my last car note was 6.99%. The amount financed of is also less than 1/3 of my gross vs 50% last time around.

    I do hate debt though. Not in a rush to buy anything else big apart from house repairs. Even then really working hard at getting the best deal.

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