Not perfect. Maybe I’m full of bs but hear me out.

It took me a while to make this decision.

I traded in my 2014 Altima 2.5SL for a 2016 Maxima SV. I have no remorse. I have no kids, not in a relationship. The last guy I dated wasn’t really even dating and he said he can’t pursue his relationship with God and act on his homosexuality. Blah. After seeing all the costs of home ownership it will be about 3 years before I can afford a house that I really like as opposed to a starter home that would need to be completely gutted. My rent is cheap at $800/mo and locked in until next year.

Do I feel hypocritical? Sure. I’m writing a blog about getting out of debt but now I’m getting into more debt.

Why did I get rid of the car I had?

  1. The old one was slow. I really wanted a car that had some punch to it when I would floor it. Not a delay and hope it goes somewhere. After driving a 4 cylinder for 6 years before I thought I’d get used to it.
  2. Black. Never ever. Again. Swirl marks, 5 minutes after I’d get it washed I’d see spots on it. No garage to put it in. Pollen galore.
  3. Value. I knew I didn’t want to keep it long term and the longer I kept it the more it would depreciate.
  4. Deals – Got a decent deal considering MSRP and financing at 1.9%.
  5. I can afford it on my current salary. My payment is about 16% of my take home pay not including any bonuses. The old one was 7.5%…
  6. The last point and this is a big one. *Motivation* – I need a big enough why to get me going. I have watched friends buy homes, 3 sets get engaged, go on trips, fancy restaurants, do a lot of traveling. I’m sure I will do more of that. I just haven’t lit the spark in my soul to want more. Paying the student loan off just felt like a chore. With little to show for it other than the paper.

    I rationalized doing nothing because I was comfortable. Comfortable people don’t try to learn new skills and make money on the side. They don’t have the desire to do their best job at work. They don’t network because they see themselves staying at a company for life or at least many many years. It’s time to get un-comfortable and start earning some extra money. Some people say when they have kids it helps inspire them to get on track. It’s a similar experience for me.

I can still budget, make my own meals, cut back in other areas I see fit.I will still be making student loan payments. Maybe not as much as a mortgage payment might be but the total is still going down. We’re looking at about 20 months till it’s gone paying just the minimums. I may start a new blog. More to come but it’s bedtime…

Month 47 -Navient $10,282, NMAC – $11,454, 401k – $13,575, Roth IRA -$3,588

Navient $10,282
Car Loan – $11,454
Total Debt: $21,736

401k – $13,575
Roth IRA -$3,588
Total Retirement: $17,163

Making progress. I asked Scott Alan Turner a question and it got mentioned in Episode 51 of the Financial  Rock Star show. I changed the number of allowances on my W4 from 0 to 2 after listening to this episode. What does that mean? $82 more in my bank account with each paycheck. That makes it easier to drop a G each month on my debts.

12 Months ago. My student loan balance was $12k more, my car note was $3,632 more.

I had a thought the other day. Paying over 3x as much on my student loan each month as my car note. Most people have a car note way higher than I do. $280/mo doesn’t kill me. Gas is ridiculously inexpensive right now, around $1.60/gallon here.

My retirement accounts have been going up as a result of some upward momentum in the stock market and an employer match.

This week I had a phone interview with a recruiter. She approached me on LinkedIn. I knew nothing about the job, but long story short I wasn’t qualified for the position. Probably 2-3 times the amount of work and a week less of vacation time. Being a millennial I’m big on work / life balance. This company only had one good review and the other 7 were horrible. It’s been making me think about my future. Working for myself over the long term may be the best shot I have at long term wealth.

In the meantime, having little or no debt is really liberating in the grand scheme of things. So that will continue being my primary goal over

I don’t mind working hard but I’m not going backward for no reason.