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This was a better month for me. Finally!
This is the first month I stopped using my credit cards and moved to an all cash/debit system. I had to draw a little from my savings accounts but overall, I would say that the switch helped me control my spending considerably. I am going to continue this practice going forward. I need all the help that I can get right about now.
The value of my car is holding steady. I am about 18,000 miles less than the average mileage on my car which is excellent since I need to drive it for some time to come. The best thing about working downtown and riding the train now is that I drive less than 10 minutes a day. So, other than the crazy Chicago winters, I won’t personally do any more damage to my car and should be able to preserve it as long as possible.
The tough pill to swallow is the interest that is accumulating on my student loans. This month alone, $951 in interest capitalized to my loan balance. I am going to have to figure out how I am going to tackle my student loan debt quick, fast and in a hurry. At the very least, I need to find out a way to pay the interest on a monthly basis.
Hopefully October will be another good month. I am going to put $500-$600 towards my credit card debt until I figure out what I am going to do about my student loans. I am still scared of being without savings because I don’t currently make enough money to pay interest only on my student loans. Push come to shove, if I don’t find a better paying job soon, I may need the savings to float me until I do land a new job. Right now I have about $700-$800 in discretionary money after bills. Estimated interest on my student loans will be $1,350 per month (Ouch I Know!!!). Something good will happen for me soon. It has to. In the meantime, I need to chip away at whatever I can and control my spending.
This is the first month I stopped using my credit cards and moved to an all cash/debit system. I had to draw a little from my savings accounts but overall, I would say that the switch helped me control my spending considerably. I am going to continue this practice going forward. I need all the help that I can get right about now.
The value of my car is holding steady. I am about 18,000 miles less than the average mileage on my car which is excellent since I need to drive it for some time to come. The best thing about working downtown and riding the train now is that I drive less than 10 minutes a day. So, other than the crazy Chicago winters, I won’t personally do any more damage to my car and should be able to preserve it as long as possible.
The tough pill to swallow is the interest that is accumulating on my student loans. This month alone, $951 in interest capitalized to my loan balance. I am going to have to figure out how I am going to tackle my student loan debt quick, fast and in a hurry. At the very least, I need to find out a way to pay the interest on a monthly basis.
Hopefully October will be another good month. I am going to put $500-$600 towards my credit card debt until I figure out what I am going to do about my student loans. I am still scared of being without savings because I don’t currently make enough money to pay interest only on my student loans. Push come to shove, if I don’t find a better paying job soon, I may need the savings to float me until I do land a new job. Right now I have about $700-$800 in discretionary money after bills. Estimated interest on my student loans will be $1,350 per month (Ouch I Know!!!). Something good will happen for me soon. It has to. In the meantime, I need to chip away at whatever I can and control my spending.
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