Friday Question

iVillage Member
Registered: 05-09-2002
Friday Question
11
Fri, 11-14-2008 - 10:18am

Some questions to think about to help you get through your Friday!


Do you feel good about the progress you have made towards paying down your debt, or do you feel like you should have accomplished more up to this point?

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iVillage Member
Registered: 11-07-2008
Fri, 11-14-2008 - 10:09pm

I do feel good about the progress I have made. In the year before I joined here, I paid off about $5000 on my credit card, car loan, and student loan combined. I just joined a week or so ago, but I've put $300 towards my credit card, and $51.51 of my last student loan payment went towards the principal. I'll also be making a $200 car payment next week. I'm sure I *could* have accomplished more up to this point, but that would have meant to forgo a lot of the little thing that help keep me from feeling "deprived".

My student loan payment and car insurance payment are automatically taken out of my checking account the first week of each month. I write a check for my car payment usually the last or second to last Monday of the month (it is due the first). I also write a check for my rent on the last day of the month. My credit card I just pay a little on all the time, I don't even know when it is due. I make 2-3 payments each month.

I want my student loan paid off! But it is the last one I will pay off (interest is tax deductible, and it's better to get the credit card and car paid off first). I just HATE how little of my payments go towards the principal. It's also my biggest debt right now, at over $4,000.

I would have a lot more money to spend if my three debts were paid off. $500-$700 a month would be freed up. There are some cosmetic & elective procedures I would like to have done that I just can't budget for right now, like braces, teeth whitening, laser eye surgery, and laser hair removal.




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