Thursday, August 13, 2009

Update...

I have credit card debt again. My student loans are entering repayment. I make my first private student loan payment in October. =(

5-year goal:
  • No more debt.
  • Pay off credit card debt.
  • Pay off $60k in private student loan debt (1/2 of my private loans).
  • Pay interest only on federal loan debt.
  • Save $20,000 emergency fund.
  • Save $300/month towards long term savings.

Status:

  • $72,000 base salary.
  • $110,000 in federal student loans.
  • $120,000 in private student loans.
  • $11,000 in credit card debt.

3 comments:

Dedicated said...

And here I thought your blogging life was over. Ouch on the $11k of credit card debt - was this from the new job (new clothes etc)?

These are pretty aggressive goals. Yet, should be a breeze for you - education pays! $21.2k a year without interest - only 29.4%. Of course, living in the city - this could be a huge squeeze.

Good luck. Hope you post your progress!

palmetto soul said...

Welcome back! Follow your plan like you did before. You'll be fine and out of debt within a reasonable amount of time.

Anonymous said...

So glad you're back!

I've been a 'backslider' myself lately. Got out of debt completely but have recently run it back up to over 4K. It happens. Just keep your eye on the prize and work at getting rid of it again.