@Drea I'm with you, so don't worry too much! And I totally agree: it feels so much better to finally track my debt (even if it is big and scary) and to have some kind of plan of attack to bring it down. Unfortunately, there is no silver bullet for debt, but having a monthly/yearly plan gives me a sense of control that I so desperately need sometimes. Just keep chipping away, and I'll be right here with you, chisel in hand!
Student Loans: Private: October 2013 balance: $18,590.68 November 2013 balance: $18,531.43 Dept. of Education: October 2013 balance: $63,433.81 November 2013 balance: $63,017.24 TOTAL STUDENT LOAN DEBT: October 2013: $82,024.49 November 2013: $81,548.67 My secret goal was to get under 82k before the start of 2014, so I'm simultaneously happy/in awe that I need to keep doing this for the next 17 years (at the current payoff rate, at least). Will the Billfold still be around in 17 years? * * * * Savings (my goal is $3,500.00): October 2013: $800 November 2013: $900
@Eric18 We freak out in hopes of influencing said government decision to shut down. Adults like snow days too.
Student Loans: Federal and Private: September 2013 balance: $18,641.28 October 2013 balance: $18,590.68 Dept. of Education: September 2013 balance: $63,640.10 October 2013 balance: $63,433.81 TOTAL STUDENT LOAN DEBT: September 2013: $82,281.38 October 2013: $82,024.49 (Slow and steady wins the race? Slow and steady wins the race.) * * * * Savings (my goal is $3,500.00): September 2013: $700 October 2013: $800
@EDaily Like I said, it is relative. But I think it's a mistake to compare your own income against that of the 1 percent. After all, they represent only 1 percent of the entire population. Compared to the vast majority of households in the country, $100k-150k is indeed quite well-off (or, dare I say it: rich). I think we need to adjust our idea of what exactly "rich" means in this country. As I said before, I'd consider the 1 percent to be considered "super rich" or, as @seaermine puts it, "Scrooge McDuck rich."
"I was curious about what it was like living with the rich without being one of them." Maybe this should say "super rich," because I'd consider ~$100k/year to be pretty affluent, especially since that's almost double the median household income in California (and $100K is only one earner!). But then again I guess it's all relative.
@highjump So I pay for everything through Sallie Mae, which breaks my loans down into these two categories for some reason. If I understand their operating procedures correctly, they hold (bought) a number of my federal loans (the federal/private group) but service other federal loans on behalf of the Dept. of Education. @PrettyNicola I wish I understood half the things Sallie Mae does with my loans.
Student Loans: Federal and Private: August 2013 balance: $18,705.35 September 2013 balance: $18,641.28 Dept. of Education: August 2013 balance: $63,782.95 September 2013 balance: $63,640.10 TOTAL STUDENT LOAN DEBT: August 2013: $82,488.30 September 2013: $82,281.38 (Interest payments are killing me slowly.) * * * * Savings (my goal is $3,500.00): August 2013: $600 September 2013: $700
Why does it often seem that every writer lives in New York? If you're writing for the internet and working from home, can't that home be anywhere? Why prohibitively expensive New York? I'm not trying to criticize life choices, just trying to understand the rationale from a personal finance standpoint.
@Allison I thought you can only deduct up to two thousand dollars each year? I like the way you think, though: aggressive debt reduction each spring. (Although I'll need to resist the urge to spend my return on something else. Eyes on the prize, Jay!)