Month 45 Update Navient -$12,845.07, NMAC – $11733.55, 401k -10635.70, Roth IRA – $3,308

Month 45 – Making Progress

Skipped last month and spent a ton of money on things. Some I needed, some maybe were more luxury in nature.

Credit card balance has been blowing up. I sold my bike earlier this month for $260 and put all of that toward it. Still almost $2k

Navient is down to $12,845. Haven’t been able to pay as much I want to on account of the CC but I have been setting aside $250/wk for either bill.

NMAC – Finally under $12k on my car $11,733.55 to be exact. I hate having a car note. I look at cars to buy daily on the used market. The deals suck though. Between financing, maintenance, the fear of buying someone else’s headache or dishonest dealersI don’t think it’s worth it. Only to save $5k or so and in some cases add 100k miles. It’s almost encouraging me not to sell / trade in. This thing can make it to 120k easy.

401k – Switched over future contributions to a Roth 401k. I still have decades left until retirement and don’t want to pay taxes on any appreciation. Taken a bit of a nosedive with the market the way it is, but I’m diversified and look long-term.

Roth – Contributions still on hold and still dropping. Numbers will go up so I’m only mildly concerned.

I semi completed my tax paperwork. Looks like I’ll be getting a refund of close to $2k. Waiting on some HSA files to come in the mail. May be able to get the student loan to $10k by March?

I have been feeling out of balance spiritually and emotionally. Maybe that’s the result of 4 days straight without having a meal with someone (dog doesn’t count) and being single / frustrated. I haven’t set foot in a place of worship other than to attend the wedding of someone who didn’t like me at all. I’ll have one good day where I see people and the rest will be crappy. I’ve faced worse challenges in life but the friends things seems to linger year after year since moving to Dallas in 2011. Kinda feel stuck… Made some plans this week / next week so it will get better soon at least.

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4 thoughts on “Month 45 Update Navient -$12,845.07, NMAC – $11733.55, 401k -10635.70, Roth IRA – $3,308

  1. When it comes to spending, I would try to keep those luxury items down. (Of course I say that because I now make so little that luxury items just don’t fit in the budget. Period. Unless they are second hand and from the thrift store, and even then, I don’t feel right buying them.)

    About your car, cars can go much more than 120K if you take care of them and you strike me as someone who does. You bought it brand new right? Then keep it and keep it until the wheels fall off. I had a Honda Civic that I bought with 66K miles on it when it was six years old and kept it until it was 14 years old and had 182K miles on it. I only got rid of it because the transmission started to fail.

    I say take whatever loan has the highest interest rate – maybe the car? And get rid of it first, plus it’s the smallest loan amount, right?

    About being single, well, it’s not the end of the world. I am 43, so maybe I look at things differently (plus I’m a straight woman and not a gay man, so again, maybe it’s different) but it’s usually a good time to work on yourself. Focus on what you do have, rather than what you don’t. Focus on making yourself the best person possible. I usually found I was at my best and strongest when single.

    And if you think you might be fighting depression, maybe talk to someone? I say this because I fought with it for many years. I’m doing good now but talking to a professional taught me a lot of coping skills.

    • You’re absolutely right about luxuries. It’s very easy to justify them as one-time occurrences. Then before you know it the one-times are forgotten and soon there is a bill left to show for it.

      It could go beyond 120k but I may grow tired of it by then. I do about a thousand miles a month. So at that rate we’re looking at the same car for a decade. Then again if I shift mindset from viewing a car as a means to get from point A to point B the age / style / features won’t matter as much. Mr. Money Mustache drives a Scion from 2005 I think. He also has way more money saved than I do.

      Looking at a FV of money calculator. My car was $24,500.. At 10% interest for 10 years that becomes worth $66k. In 20 years it’s $179k. In 30 it’s $486k, nearly half a million dollars. Not saying I won’t buy a new car again but postponing it could mean some really huge gains over time. The car loan is at a 0% interest rate. Student loan is 4.25% and credit card is around 12%.

      Being single isn’t the end of the world. I am kinda needy though. I am content by myself but over time I start to want a connection with other humans. The lack of that outside of work results in some frustration and eventually a feeling a loneliness. Especially on days where I ask 6 different people if they’re free. Not every day is like that though. There are ups and downs.

      I do need to keep talking to people. It helps me to stay focused on other things and realize that there are people who appreciate and want to spend time with me. Even if it isn’t always possible. Getting out the house and exercising helps too, one of the reasons why I do it like 5 times a week. 🙂

      I would say that not doing anything for a long period of time makes me feel alone. Then that alone feeling escalates to some feelings of gloom. Or seeing other couples together and knowing my dating life isn’t really going anywhere. Try to be happy for them but also feeling cold / alone inside. One last thing when I’m sleepy I tend to be bitchy and whine more. Usually I post late at night and am more on the emo side. 😛

      Last but not least, I do have a lot of things going for me. More than I ever have before really. At least as far as my income / financial engine is concerned. I’m in a small amount of credit card debt, my health is pretty decent, I don’t have to share my apt with anyone, my neighbors are pretty quiet, my rent isn’t $1500+ a month (long island, bleh), I don’t have to pay crazy real estate taxes or utility bills, I have three college degrees (I have a friend who is working on his associates) and I’m making progress in multiple areas of my life. 🙂

  2. Just wanted to drop by and say how much I enjoy your blog! I’m 24 (well I’ll be 25 in a week), and I graduated December 2013 with my Bachelor’s Degree in Business and almost $43,000 in student loan debt. I started paying on them the day after I graduated and have paid $14,094 to-date. I’m definitely on my own journey to being debt free, but your blog definitely motivates me to keep going!

    • I’m honored that I’ve managed to motivate someone else. Sometimes I forget how far I’ve come since the beginning. Never lose sight of the light at the end do the tunnel. I think the biggest thing I’ve learned is the power of a habit. Even paying an extra hundred dollars s month goes a long way to keep interest from compounding against you. That and the importance of steady employment. 🙂 sounds like you’re headed in the right direction Will. Keep tracking it and living below your means. You’ll get there possibly sooner than you think. 🙂

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