Saturday, June 27, 2015

The 27th

I am still working on my ugliest loan 1-10. I paid an extra $423.19 on it. Here is the breakdown:

5/30-I saved $124.19 from my paycheck which are my raises from the past two years that I pretended that I did not get.

6/13-I saved $224.29 from my paycheck which are a combination of raises that I pretended that I did not get, plus pay from an extra 4 hour shift that I picked up.

6/18-I got a check for $43.22 from my local consignment shop for clothes and other items that I no longer needed

I always put aside $200 which was my monthly payment for my student loans and since I have been paying them off, the automated payment goes down. This month, my automated payment was $168.51 which subtracted from $200 is $31.49

Grand total: $423.19 extra added to my 1-10 loan bringing the balance down to: $3809.06

I hate this loan. I hate the 6.8% interest rate and I just want it gone. The motivation to get rid of this one and the 1-12 loan of $4066.20, also at 6.8% is very strong. I plan to keep a baseline in my savings account and when I get about $4050 over the baseline, I will put it towards the 1-12 loan, just to get rid of it, while still whittling away at 1-10.

My goal is to have both of these loans gone by October so I will have no more loans at 6.8% and have the rest at 2.3% to pay off.