Thursday, February 11, 2016

A little closer to my goal

I am so proud of this that I just have to share it here.
As of this morning, my student loan debt is completely paid off! I graduated a little over 8 years and 2 months ago (Dec 7, 2007) and the loans started about 6 months after that. These student loans were set to mature in June 2018. That is almost 2 1/2 years early!
I realized this year that my loan debt had shrunk enough that I was able to pay it off with my tax refund. This puts me that much closer to my 3 year goal. So my next step is to tackle my car loan. Instead of putting the student loan payments back into my budget, I am just going to put that money into my car loan payment. By doing that, I should be able to pay off my car loan a year and a half early if I do not add any other extra payments to it. I am already used to not having that student loan payment available to spend, so why not continue with that and just use it towards getting debt free that much faster?