August Stats

Student loan interest has gone up another quarter percent, but I anticipate having all student loans paid off within two years, when we sell the house and move to FL.  Actually, selling the house will put me at my goal of being debt free much sooner than I had anticipated when I started this blog, so expect to see different numbers and goals* appearing before then.

INTEREST RATE REMAINING BASE PAYMENT EXTRA PAYMENTS
Student Loans 3.75% $23,029.93 $180.74 $150.00
Mortgage 3.50% $306,475.72 $2,259.03 $0.00**
Total $329,505.65 $2,439.77 $150.00

Also, how is everyone doing in the National Bike Challenge?  I’m up to 648.6 miles so far.  I’m guessing I’ll hit somewhere north of 750 by the time the Challenge ends in September.

 

* Though, of course, all of these goals and milestones are working toward one thing:  freedom.  Freedom from work, freedom with my time, freedom to live the life I want.

** There was actually an $80.43 payment made against the mortgage on 8/19, but I have no idea where this came from; I’ve called and they’re researching, so hopefully we’ll know by the end of the month.

09/06/16:  Apparently the $80.43 is a principal reduction that came from the corporate office; not a payment, so I won’t add it to the table, but it did reduce our debt, which is nice.

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Retirement owl

Meet my retirement owl:

retirement_owl
A stern reminder to be responsible.

DW bought retirement owl for me in Disney this month; gold lucky owls cause dreams to come true and bring luck in money, so he is pretty perfect.  Having him around reminds me to make better decisions with money, and he’s a physical token I can use to help me focus and be responsible.  Since bringing him home this past week, I have cut off my weekly Ram’s Head trip, rearranged a work trip to Richmond to drive* instead of take the train, and put an extra $150 toward loans.**

Here’s hoping the motivation continues!  I needed this kick in the butt to start acting on decisions I knew I needed to make.  We’re not doing well in sticking to our budgets, so this reminder will be very helpful.

How do you keep motivated to save?  Are you naturally frugal or do you need to trick yourself into it, like me?

 

* My parents have been trying to give us their 2008 Prius all year, and DW finally convinced me that we should accept it.  I was able to extract promises from my parents not to buy a new car, though, and we struck a deal that this would be our final gift from them, since it’s such a large one.  All told, a win, since we needed a medium-distance solution.  Having it around also facilitates things like getting paid to drive down for the work trip rather than taking the train – not as good for the environment, but better for my pocket book right now, and unfortunately that’s the trade I feel I need to make right now.

** This was a housewarming gift from my grandmother, so windfall and slated for debt or investment either way.