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Panic Mode to Inspiration – The Call (Part I of 3)

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Mondays are my least favorite days.  They require from 3-5 hours straight in the car for me.  I run the twins and sometimes Princess to another city to work with their competitive robotics team, run back here to drop off the Gymnast, a few miles down the road to coach Princess’ volleyball team and then back to the other city to pick up the twins.  It is a grueling day…and this is all after I take Princess for a couple of hours of volunteer time at the local shelter.  I am not complaining, although it does sound like it, I choose this, I could say “No” – I own that this is my choice.

But this past Monday was a whole other roller coaster in and of itself.  First the day started out on a high…we celebrated four years of being a family which I wrote about on my personal blog.  In years prior to our tiny space living, we would celebrate with a visit to the local pottery painting place where we would all paint a dish including the number of the anniversary and a meal out.  This year and last, we opted to skip the painting due to financial reasons and because we just don’t have space for more dishes.  But we did go out to eat.  So a good day.

However, in between my marathon chauffeur duties, I got the dreaded call.  My biggest, longest running client, the bread and butter of my business for the last 8 years…they are downsizing.  They gave me three weeks notice.  Tears sprang to my eyes.  All the plans for housing, out the window, all the debt pay off plans, out the window.  All with one phone call.  I was devastated.  But I had to pull it together and go coach Princess’ first ever volleyball game….we WON!

There have been sleepless nights since then as I toss and turned, panicking, wondering what if as I look back at how I got here, and just worrying.  It took me a year when I first started my business to get to the level where I could support us.  And I have to admit while I do have some smaller clients and occasion bigger projects, I’ve become complacent.  So I will essentially be starting from scratch again.

I ended the day with dinner with my kids to celebrate the four years that we’ve been a family…since the day the twins moved into our life.  They all knew about the call as I couldn’t hide the devastation.  But we spent the meal reminiscing about those first days, learning more about the twins’ feelings at the time and being grateful for the experiences we’ve had to this point.

 

Weekly Debt Update #27- One More Down, Two to Go!

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Hey everybody!

I’m feeling pretty awesome today! The reason? I paid off Sallie Mae 04 this weekend! I paid off the last $1,221 in one swoop. When I graduated college in 2009, the original balance of this loan was $10,350.18. The balance as of mid-May ’15 (when I started hitting this loan hard) was $7,407.64. It feels fantastic to have paid this loan off in essentially 4 months (I took off in July). Now, I only have the 2 big ones left. After I replenish my EF and get my car’s annual inspection (end of October/early November) I’ll be ready to hit Sallie Mae 01. Here’s my updated balances:

Loan NameInterest RateOriginal Balance- May '09Current BalanceTotal Paid OffPaid Since Last Week
Sallie Mae 015.25$27,837.24$23,662.64$4,174.60$0.00
Sallie Mae 024.75$22,197.02$18,556.32$3,640.70$0.00
Sallie Mae 037.75$20,692.10$0.00
$20,692.10$0.00
Sallie Mae 045.75$10,350.18$0.00$10,350.18$1,221.75
Sallie Mae 055.25$6,096.03$0.00$6,096.03$0.00
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
AES6.8$9,000.00$0.00$9,000.00$0.00
TOTALS$110,587.66$42,218.96$68,368.70$1,221.75

I’m shooting for having a paid off Sallie Mae in August of ’16, which would only give me 10 months to do it. It’s aggressive, but I definitely feel it’s doable.

Funny story concerning my student loan payments: I had a meeting with my bank to go over my checking/savings accounts and to see if they could offer me anything else. The lady that I met with must have gone through my account activity because she asked me a couple of specific questions: 1) Why do you pay estimated taxes? (Easy explanation concerning the withdrawal of my gov’t retirement account in 2014) and 2) Who is Navient? I told her this was my student loan provider, so she asked how much I owe since I pay them roughly $2,400 a month. I told her about $300,000. Lol- her face went white, like she couldn’t believe it. I then told her I was joking and I only owe about $40,000. I then explained to her than I’m working really, really hard to get them fully paid off and that, between my loans and my car, I’ve paid off $62,000 in 2 years. She was stunned and couldn’t believe I’ve accomplished that much in such a short time, especially on a single salary. That felt pretty awesome too, to be honest.

As for any type of celebration, we didn’t really have one. GF wanted to celebrate it, so she offered to make a celebration meal. As a kind of off the wall response, I asked for raspberry crepes. For never having made them before, GF did amazing! They were so good and the perfect celebration as we had most of the ingredients already at home and didn’t have to go out anywhere. Here’s a pictures:

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Like I said above, I’m going to take the next couple of weeks to replenish my EF before hitting Sallie Mae 01. I hope everyone has a great week!