I did it!

iVillage Member
Registered: 10-05-2009
I did it!
10
Tue, 03-29-2011 - 11:05pm

I did it! I'm so proud of my self! I managed to sell enough stuff, and pull every single available dollar from every nook and cranny of my life and paid off that student loan today. I've carried it for...well, since 1990, 21 years? Holy cow! But it's paid off in full now, as soon as the last of the payments post to my account in the next 3 days. I can not express how good it feels to be dirt poor and be able to pull that off. And stuff keeps selling, so I can start stuffing money back into those nooks and crannies. It can be done. I just wish I had done this a long time ago, and many, many dollars ago!

My next loan will be payable 6 months after I finish school, but I start back in May, so that will delay it, without interest, for a while. I'll be able to work and go to school and put the money away for this loan, and to pad that saving once again. OY! I'm so happy about this!

iVillage Member
Registered: 10-05-2009
Wed, 04-13-2011 - 11:39am
knowing the interest adds on daily will inspire you to not wait to send in extra payments, too. If they are adding $2 daily and you wait a week to pay them, that's an extra $14 you didn't have to pay them. If you wait a month to pay them, it's an extra $60 you did have to pay!!! That's what prodded me, you can do it, too
iVillage Member
Registered: 03-07-2005
Tue, 04-12-2011 - 4:44pm
I am still in awe of you! So impressive. I am going to try that Monster Money jar. Great idea. Plus, I need to sit down and take a hard look at our expenses. We can cut alot I'm sure. I've been spending money like we are millionaires....not on leisurely shopping (clothes, etc) but on groceries, eating out. Eating out is our budget killer, always was. My van will be paid off in about two more months. And that $325 will go toward DH's loan. That will inspire me to get that sucker down. I am so sick of looking at that bill!! And I don't even want to know the interest we've paid. Crazy!
Avatar for sweetviolets
iVillage Member
Registered: 06-30-2003
Thu, 04-07-2011 - 3:09pm

Wow!

iVillage Member
Registered: 05-15-2009
Fri, 04-01-2011 - 7:22am
Wow! Congratulations on getting that debt paid off. That must be such a huge relief!

iVillage Member
Registered: 10-05-2009
Fri, 04-01-2011 - 12:47am
I looked at it like this. I had $1000 in a savings account that if I left it there for 12 months, I'd get a $50 visa gift card. But in 12 months, I'd pay $100 in interest on that same amount of money. I took the money out of the savings and figure it's earning me $50 this year over what it was doing before. I looked at everything that way, every single dollar. I hate not having money sitting in savings "just in case" but it wasn't earning me any interest, just a few pennies, while I was paying out 10% on this debt. I will rebuild the savings as stuff continues to sell, and getting saving back up there is a high priority now because this monster is off my back. Sold tons of text books, lots of stuff that was just laying around the house not even being used, and still have lots more to sell. I had a basketball hoop and backboard laying in my driveway. We have a portable that the kids play with but this one was literally just laying there. I read the wanted section on CL today and there was a parent who wanted a hoop for his dd. I contacted him, sold for $20 and got it out of here! That money goes in the Monster Money jar to throw into savings, to rebuild.

The Monster Money jar really helped. I put slips of paper in there that said the date, what we were gonna do but didn't, and how much $$ that saved us. That amount will also be going into savings, as if I'm still paying off this debt, because I kind of still am since money came from savings....

Good luck fighting your own Monster!
iVillage Member
Registered: 03-07-2005
Thu, 03-31-2011 - 6:35pm

Congratulations!! You paid off all 8g's left just by selling,scrimping, etc? Good for you! Believe me, I know what a bear they are. DH and I are both still paying on ours. We are well over 10 years now. It just takes forever. I'm so proud of you--even though I don't know you. It's inspiration enough for me to try to tackle DH's, whose is considerably less than mine. Nicely done!

iVillage Member
Registered: 10-05-2009
Thu, 03-31-2011 - 3:07pm
now if I could kick a few pounds off this frame of mine with the same determination.... I gotta harness it again!
Avatar for busywith5kids
iVillage Member
Registered: 03-26-2003
Wed, 03-30-2011 - 12:28pm
WTG!!! Amazing what can be done when we're determined!
Avatar for scoopsmommy
iVillage Member
Registered: 03-28-2003
Wed, 03-30-2011 - 8:23am
Yayyyyyyyyy!!!
Avatar for kathy_s14255
iVillage Member
Registered: 03-27-2003
Wed, 03-30-2011 - 7:48am
Congratulations!!! That is so awesome!!!!