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Weekly Debt Update #15- One More Paid Off and Support Groups


Sorry for the late posting today, but it’s been a very busy couple of days at home- lots to do now that the weather has turned for good!

I’ll start this post with a debt update because I have some wonderful news to share- I paid off Sallie Mae 05!! That’s right- gone!! Another one bites the dust, lol.

So here’s what the numbers look like now:

Loan NameInterest RateOriginal Balance- May '09Current BalanceTotal Paid Off+/- Since Last Week
Sallie Mae 015.25$27,837.24$23,985.23$3,852.01$0.00
Sallie Mae 024.75$22,197.02$18,820.44$3,376.58$0.00
Sallie Mae 037.75$20,692.10$0.00
Sallie Mae 045.75$10,350.18$7,407.64$2,942.54$0.00
Sallie Mae 055.25$6,096.03$0.00$4,840.64$1,255.39
Sallie Mae 06 and 074.75$6,415.09$0.00$6,415.09$0.00
Sallie Mae- DOE 015.25$5,000.00$0.00$5,000.00$0.00
Sallie Mae- DOE 025.25$3,000.00$0.00$3,000.00$0.00

I’m also super close to another milestone (a milestone that felt like an eternity away only a year ago)- below $50,000. I think seeing a 4 as the first number is going to have a very big impact on my psyche moving forward.

I also want to talk about something that can very much make or break a debt payoff- the support of your family and friends. I’m extremely blessed in the sense that for the most part, I have this support, with most of my blessings aimed towards my parents and my GF. BUT, it hasn’t always been this way for me. When I originally told my parents, I got a lot of “why’s?” and “don’t you make enough money not to worry?”. They still make jokes at my expense about it, but I take it in stride, since they really do support me. It took some convincing that I’m on the right path FOR ME, but I finally got them to agree that I’m making the right choice.

When I graduated from college (with a butt load of debt and 40K/year in pay) I had a girlfriend of a year. When my student loans were coming due and I had to make cuts (which included, dates, gifts and the like), we did NOT see eye to eye and was one of the big reasons for our eventual breakup.

I even went on a date a couple of years ago where the girl spent the whole date asking me about my personal financial situation. After I told her I was an engineer, but I didn’t have much money to spend, she couldn’t believe that I chose to live my life in such a frugal manner. There was no 2nd date.

As for my close friends, I don’t remember having many issues. They supported since we were, and some of us still are, all in the same predicament, being as we all graduated from the same, very expensive, school. Some of us still talk financials on a regular basis.

This is a hard subject for me to bring up, because I’ve haven’t been on the other side of the fence too often. I had the one breakup many moons ago, but other than that I haven’t found any of my friends or family to be roadblocks. To me, it seems like such a crapshoot, which boils down to: are you lucky enough to have people around you, particularly family members (as you can’t pick your family, like you can friends) that got your back? Since I really feel we’re all in this together, I’d like to open a discussion on the topic in the comments section for anyone willing to share. I have a couple of questions:

  1. During your debt payoff, do you feel like you did or didn’t have the support of those around you?
  2. How do you think it affected your debt paydown?
  3. Did any of you NOT reach your goal from lack of support?
  4. Did any of you reach your goal IN SPITE OF the lack of support?

Thanks, and have a great week!


Hi! My name is Matt and welcome to Blogging Away Debt! As one of the bloggers here, it's clear that I'm in debt, but how much in debt, you may ask? Well...when I graduated college in 2009, I nearly fainted when I saw the price tag- $110,000. $110,000! For school! Add to this my car loan and my total debt topped $126,000.

In September of 2013, I had an epiphany to pay of the remainder of my debt ($104,000) as fast as I could. With my sights set on a debt free date of November 2016, I'll share my journey with you to reach this goal, every step of the way.

Latest posts by Matt (see all)


  • Reply Sue |

    My husband and I have always kind of been at the same “stage” of life – over our 33 years of marriage we have done MORE than our share of useless spending, not saving,etc. and now, at this point of our lives we are still on the same page, but have different priorities. We want to get the car, HELOC, & mortgage paid off before he retires in 9 years. With both of us on the same page and willing to sacrifice for the sake of our retirement (albeit a little late….but…..) it WILL happen. I don’t think it would though, if we weren’t both on board with this!

    I worry about my kids though – we set a terrible example for them growing up and I don’t think any of them respect money or put value on saving for emergencies or their future….I hope that by changing our habits now, they will at least learn the right thing to do!!!

  • Reply Brooke |

    Both of my parents discouraged me from going to graduate school because I was going to finance it with loans. Now, on the other side, they are very glad I am being responsible about it. We don’t talk about money much with my in-laws or that side of the family. For this reason when it comes to gift giving I am afraid we come off as cheap. Lots of misconceptions about our salaries / cost of living etc.

    The biggest force in paying this stuff off is my husband. He’s totally on board for paying off debt aggressively as long as we don’t cut our lifestyle to the very bare bones. We don’t have cable, pay $25/pp for our cell phones, live in a trailer park — but we do give nice gifts for Christmas and birthdays, spend our gift money on gifts vs. paying off debt and go out to eat about once a week. But you can’t argue with progress, either. We’ve paid off 15K in principal so far this year.

    We have to do it together or we won’t succeed. But, there’s not much point in paying off debt so aggressively that your marriage doesn’t survive. Gotta find the balance that works for both partners.

  • Reply debtor |

    i think the biggest thing for me – is never wanting to give the big wedding presents especially if i had to buy a ticket to attend – most folks think because I work in a job that looks like it pays well and i have no kids – i should be able to “afford” more…. but i just do me.

  • Reply Annymous |

    My husband and I have been on the same page financially since we met as teens. We are averse to most debt! We have always had a lot of fun together, and we know that it doesn’t always take money to do this. We managed to put 4 kids through college without debt, theirs or ours. Fortunately, we both come from frugal families, so what we do seems normal to everyone. We are also generous, so that is a good balance with our frugality! I think it is very important for young people to talk about finances when they begin to get serious in dating. If you are miles apart in your thinking about money, there probably will be trouble in the relationship.

  • Reply April |

    I was selective about whom I chose to tell about my debt repayment plans. I could tell in a minute or two of mentioning it to those I did if they were supportive or not. If they made some flippant comment, then I’d pretty much shut my mouth about it. If they seemed genuinely interested, then I could talk more openly. This goes for friends and family and the boyfriend I had for longer than I should have. That certainly factored into my decision to end that relationship! As for friends and family, I didn’t sever any relationships, but I would just not share that part of my life with them if I didn’t feel supported by them.
    And CONGRATS on paying off another loan!

  • Reply Mary |

    Congrats on paying off another debt! You’re doing great! My only debt is my mortgage and I’ll probably start paying that down next year. I am cash flowing some medical expenses and big ticket home improvement expenses this year.

  • Reply Judi |

    Congratulations! Your progress has been amazing! I hope you celebrate your milestone when you reach it by treating yourself to a day out in the nice weather, maybe a long hike or bike ride.
    My parents have always been supportive of us paying down our student loans. It took a while for my husband to get on board but now that he is, he is probably the strongest motivating factor in our debt pay off. As for friends we don’t really talk about it with them. Most of them have more loans than us (my husband is a lawyer and lawschool is expensive) and will comment on how we shouldn’t worry or say we re lucky, so I feel awkward broaching the subject.

So, what do you think ?