Ugh, debt! I hate it so much! When I think about my monthly payments and that it should take me 7 or more years to pay the remaining balance I get sick. Seven years of paying $300 a month? No thank you! Now, I know my situation is nowhere near the worst out there, but it's my reality and I don't like it. So, this year
is to kick my debt in the behind! I have so many things I'd rather be doing with $300 a month than sending it to Sallie Mae. You know, like traveling and having fun. Sadly, the only way to get my debt to move out is to throw more money at it. Some of you might ask "why would you do that?" Well, the way I see it, paying more to my student loans over a short period of time and paying less in interest is more beneficial to me than just letting that monthly payment hang over my head until I am 30. 30!!!
My plan for the year is to throw any and all extra money I have each month to my student loans and instead of paying off around $3,000 I hope to at least double that amount. I also plan on ditching cable in July when my contract is up and that should get around 50 more dollars to send to my loans. Who needs it when you can have Netflix? (I make that sound a lot easier then I know it will be!) Throughout the year I plan on sharing different ways I'm cutting costs and at the end of each month sharing how much extra I was able to pay. Wish me luck guys! I know this won't be easy.
Do you have any cost saving strategies?