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Posts tagged with: Student Loans

Bye, bye debt…

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My car debt…GONE!

My collection debt…GONE! Called, negotiated and paid yesterday!

I am officially down to my very last two debts…

  1. Credit card
  2. Student loans

And my credit card has a target much larger than this on it in my head!!!

I know I have to keep focus on rebuilding my EF and saving for a car down the road BUT guys, I am so close. So close. This credit card debt is going to be gone this year…mark my words. I will be down to one, single solitary debt.

Holy cow.


Considering Student Loan Payments

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My student loans are in deferment until next spring. Up until this past week, I hadn’t made any payments since they went into deferment.

But I know the interest in accumulating and adding to my already large balance. And it’s time I did something about that. Even if it is just a little something.

I asked the BAD Community for guidance on what debt I should be targeting over the next couple of months last week in my September Debt Update.

Student Loan Balances

Here is where it stands right now (screenshot taken 9/10/18:)

student loan balances

I’ve never really paid attention to the Group A and Group B and I’m not sure how that affects anything since they both have the same interest rate.

Plan of Action

With a target on a different debt, I have some questions about my student loan plan of action. Knowing that no payments are due until next spring AND that it is accruing some interest.

  1. Should I add a small regular payment toward my student loan debt to my monthly budget?
  2. If yes, should I target a specific Group? And how does that matter?
  3. If yes, how much should I add to my monthly budget? I’m guessing it should be enough to cover interest and prevent an increase in the on-going balance.

I paid $100 toward Group B last week. Another one of my flying by the seat of my pants decisions. But I feel like I need  a solid plan with this. And I need your advice.

 


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