I’ve been doing some thinking and since I update my personal debt numbers on a weekly basis and tally my budget numbers, I’dd the same here. I give the run down of my week of week from what I paid on debt to what I spent.
So on Wednesday I got paid $924 (my normal $847.50 plus milage reimbursement for driving). I pay my electric bill on the 2nd week of each month which was $99.70. After I paid myself $70 for whatever gas and groceries (I tend to buy dog food and chicken to help out my girlfriend). This week I was able to make a payment of $752.93 on my Sallie Mae loans.
Rant alert- I really hate how Sallie Mae allocates how you can pay off loans. I’m in the automatic withdrawal program to get .25% off my interest rate on each of my loans. The automatic withdrawal gets made the 21st of every month. My due amount on the 21st is currently $467.91, which they lower as I pay off the loans (my initial payment after college was somewhere around $900!). At the beginning of the month, if I want to make a payment, they don’t allow me to choose which loan the payment goes towards until I’ve paid the full $467.91, even though I make this same payment on the 21st. I guess it’s not terrible in the sense that I’m paying off each of my loans with 2 payments a month plus what ever extra, but I could pay off the lowest ones so much quicker!
So here’s my debt numbers for the 2nd week of January:
|Loan Name||Interest Rate||Original Balance- May '09||Current Balance||Total Paid Off|
|Sallie Mae 01||5.25||$27,837.24||$24,462.48||$3,374.76|
|Sallie Mae 02||4.75||$22,197.02||$19,189.15||$3,007.87|
|Sallie Mae 03||7.75||$20,692.10||$655.99||$20,036.11|
|Sallie Mae 04||5.75||$10,350.18||$7,723.61||$2,226.57|
|Sallie Mae 05||5.25||$6,096.03||$5,356.99||$739.04|
|Sallie Mae 06 & 07||4.75||$6,415.09||$0.00||$6,415.09|
|Sallie Mae- DOE 01||5.25||$5,000.00||$0.00||$5,000.00|
|Sallie Mae- DOE 02||5.25||$3,000.00||$0.00||$3,000.00|
And here’s how my budget stands:
My sister is currently 8-1/2 months pregnant. I bought her a bunch of gifts and had them sent out of state to where she lives. That’s the $116.53 showing up in the misc. category. My $70 didn’t last too long this paycheck. I ended up spending it on a couple of restaurant dinners (totaling $20, but could have been avoided) that I could have avoided, $20 on gas and the remaining cash on groceries. As I type this on Monday night, I’m penniless until Wednesday.
For the coming week, I don’t see too many expenses. I owe my student loans on Wednesday and my folks are coming to visit, which I should be able to use my normal $70 to pay for any expenses with this, but normally we just hang out around the house. Barring anything that comes up between now and tomorrow, I should be able to make a nice loan payment.