It’s payment day! I woke up this morning and saw that my last monster payment of $5,520 posted and my current student loan balance is $28,941. I’ve paid off $18,613 in four months! I never would have believed this would be possible, especially with my income history. Here’s how I did it this month:
$4,425 – Primary Contract Job
I typically don’t like to use quite as much from the big checks I’ll get for the time I work 36 hours a week for this gig. But, apparently, I’ve been putting back more than necessary for taxes, so I felt comfortable stretching a little with this one. This is the last big check from this gig for a little while. So, I made it count.
$800 – Contract Job
This is what I make at another contract gig. When I look at the difference between this job and my “primary” contract job, I wonder why I bother with this one. The answer: I think of it as a side hustle. Once the debt is paid off, I will probably reconsider the time/value of this gig.
$100 – Digit Savings
It works! Digit managed to save me $133 last month. I took $100 from it for this payment. I’ll let the $33 grow for next month’s payment.
$195 – Dangling Savings Accounts
I had stashed some money in that Replacement Vehicle sub account, as well as opened a sub account called “Home Base.” I cleaned them out to make sure I got the balance well below 30k.
It seems genuinely awesome to me that five months ago, I felt so entirely powerless and crushed by the weight of these stupid loans, and here I am, a few short months later, obliterating them. I wish I could remember the exact moment that I took my power back. Was it when I decided to do extra work in December? Or was it when I scheduled that first big payment? One leads to another, so I suppose it doesn’t matter. There is power in action. Maybe it was the decision itself – something as simple as, “I’m not going to let this have power over me anymore.” Whatever it is, I’m grateful for the progress.