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Hi everyone! I need some friends. I am really going to try to reduce my debt and I could use some friends along the way to support and encourage me. So, if you read my blog or come across it, leave a comment and let me know you’re there AND tell a friend about me to see if they would be interested in reading too.
Always feel free to leave me a comment or ask me a question. I am certain that I am not the only gal that’s in a financial mess. Let’s take this journey together towards financial freedom. In return, I will do my very best to continue to post my progress or interesting tidbits of information that I come across. Take this journey with me. I am going to get my financial house in order and say goodbye to my debt!
Now…who wants to be my new friend?
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10 comments:
Hey Chitown, found your site today for the first time and wanted to let you know that its looking great! I completely agree with you that getting out of debt can be much easier when tackling the task with other people who are also in the same boat. I took my journey to get out of debt almost a year ago and finally was able to get out of debt this past summer. Encouragement and motivation is a key ingredient for getting out of debt and I would have to say that I couldn't have done it without the support from other people. But anyway I just wanted to let you know that you can hit me up anytime if you "need some friends" to talk to. Email is moneywalks(at)gmail(dot)com.
-Andy
Your interest seems really high. I'll be graduating law school December '08 with about $70k in loans. By my calculations my total payments will be less than half of what you're paying in interest. Do you have a lot of private loans and/or a short repayment schedule? I'm just wondering why the payments are so high.
Oops. I just read your post below and saw you have $200k in student loans with half of them being private. I see why you're paying so much interest now. I hope you find a higher paying job soon.
I transferred from a tier 1 to a tier 3 so I'll be happy if I can find a $55k a year job. I'm not sure if transferring was a good decision.
Hey. I just came across your blog. The $207K in student loans attracted me. I like your blog and I'll visit daily. Keep on trucking and I'll keep you in my prayers. You can do it.
Wow! Thank you Andy, TF Miser and Dimples for commenting and coming over to visit my blog.
My student loans are half & half. Half of my loans are federal and the other half are private.
The bulk of my federal loans are consolidated at 3.5%. My private loans have an average rate of 9%. So the private loans are really kicking my butt. The worse part is that they were completely unecessary.
I hope you come back and visit!
Are you going to pay off the majority of those high-interest debts first? Or is accelerating payoff not an option?
If you survived law school, you can survive this debt. We're here for ya!
Can private loans be consolidated? Have you secured a job and established a fixed repayment plan with a target payoff date?
Hi Single Ma and Mrs. Micah!
Private loans can actually be consolidated but the consolidation loans offer very little incentive to consolidate. The interest rate will be comparable to what I already have on my loans and will just offer the convenience of one single payment.
I think that overall, it would probably be best to keep the loans seperate and snowball the debt load. The private loans all carry an average interest rate of 9.1% which is tied to the 3-month libor rate.
I used a debt snowball spreadsheet on Sunday to try out different scenarios but overall, I am going to have to land a job at a firm in order to really chip away at the debt.
I'll be your friend! It looks like you have a plan and we're all here to root for you along the way.
lol! I'll be your friend ;)
I just found your blog after seeing you comment on my open wallet. I'll be checking in! I'm in debt too--it's not quite as hefty as yours, but if you'll have me, I'm here!
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