My student loan debt is shrinking.
Remember last May, when I challenged myself to pay off $4,500 in student loan debt in 90 days?
Remember how I then proceeded to fall off the earth for a little while?
Well, I promise you it was not because I failed the challenge and was embarrassed. Actually, I started side hustling really hard, spending more time with my family, and working on professional development. The blog got placed on the back burner for far too long, but I am here to tell you that my graduate student loan debt is GONE.
In the end, I paid off the remaining balance a few months later than I had hoped. My goal was to finish paying off my loans by August 1st, but I made the final payment on October 7th. Unfortunately, during the summer we needed to take care of a health-related problem. We had to focus on a hospital visit, recovery time, and physical therapy visits and copays.
As soon as I paid off my graduate loan, I turned my attention to my smallest student loan, which was at $1,152.30 when I began whittling away at it using money made from freelance writing or taking on extra work. I am very happy to report that this loan is also gone, as of last week.
This means that since October, I have been able to pay an average of $288 a month extra on these loans.
No, it isn’t the $50 a day I had started out looking to make. But wow, is it progress.
What about the future of Real Simple Finances?
My student loan debt is still high, so I will be working on that using Dave Ramsey’s snowball method. The smallest loan I currently have is just under $2,600. I intend to pay it off by May. No more 90-day challenges for now!
I also have some ideas for rebranding the blog. I hope to unveil the final project soon. In the meantime, I would love to hear your comments. What sort of financial tips or strategies do you want to hear about?