On Let’s Throw Some Money at Our Problems: October 2014 Check-in

I paid off my highest interest rate loan at the beginning of this month! Sep balance: $991 Oct balance: $0 Now I'm starting on my next federal loan, which had an original balance of $5055 and an interest rate of 5.6%: Sep balance: $4678 Oct balance: $3639 This means my overall interest-bearing student loan balance is just under $6000, down from $17,500 a mere two years ago. I'm pretty happy about that.

Posted on October 30, 2014 at 7:03 pm 2

On Kids Trick-or-Treating Across Class Lines Makes 1%er Feel Faint

@ATF Yeah, my first thought was that parents/guardians were taking kids to the nice neighborhood because it was safe and walkable, not because they want to mooch off the doctors or whatevever.

Posted on October 23, 2014 at 7:07 pm 1

On What Will You Do With Your Extra $200?

@Sloane But those who pay the most into social security don't "get the least out of it". Your SS check increases in proportion to the contributions you made to SS over the course of your working life, up to a point. http://www.socialsecurity.gov/pubs/EN-05-10070.pdf

Posted on September 30, 2014 at 3:08 pm 0

On Let’s Throw Some Money at Our Problems: July 2014 Check-in

I have several student loans, but right now I'm focused on paying off the one with the highest interest rate (6.8%). Original balance: $9000 Last month's balance: $4492 This month's balance: $2969

Posted on July 30, 2014 at 10:00 pm 1

On Time vs. Money

Also, it's worth pointing out that he repeats a myth about pensions/Social Security when he says that because the retirement age coincided with average life expectancy, no one expected workers to collect benefits for years before they died. Life expectancy was greatly affected by higher infant mortality at the time, so SS benefits and pensions were absolutely intended to support retirees into their 70s and 80s. http://www.ssa.gov/history/lifeexpect.html

Posted on February 10, 2014 at 5:32 pm 0

On Time vs. Money

My hunch is that if you asked someone over 50 with no or minimal retirement savings whether time was more important than money, you'd get a more nuanced answer. Money can buy you time, but the reverse isn't usually true.

Posted on February 10, 2014 at 5:25 pm 2

On Credit Card FAQ Copywriter Is a Mad Genius

The level of condescension here is amazing. Late fees could be avoided by simply making on-time payments? Haha thanks BOFA I had no idea! Are they still doing that thing where they change the due date of your payment by a few days each month without telling you, thus ensuring you will make late payments, or is that illegal now?

Posted on February 7, 2014 at 12:02 pm 0

On Ways to Figure Out Who You Are Really and What You Want in Life

@sea ermine Who are you

Posted on January 28, 2014 at 4:55 pm 1

On I Bought a House When I Was 21

@aetataureate Yeah, the fetishization of home ownership, and the idea that one would sacrifice so much, (including other financial goals) in order to own property is pretty baffling to me.

Posted on January 28, 2014 at 4:41 pm 3

On Hang in There, Humanities Majors

@la_di_da This is one of the financial conundrums that keeps me up at night. I'm lucky to make enough money to have a few hundred extra dollars each month that I could either use to pay extra on my loans or save for retirement. One of my loans is at 6.8%, so I've been using the extra to pay it down, but I wonder if that's the right choice if I might be able to make more by investing now and reaping more of the benefits of compound interest. At the rate I'm going, I could pay the loan off in a couple of years, but then I'll be 30 with minimal retirement savings, which is alarming.

Posted on January 23, 2014 at 2:51 pm 0