[-$63,299] Falling Off the Track

I’ve made my required monthly $1,720 student loan payment and now owe $63,299. The balance looks practically unchanged to me compared to before the payment. Sigh.

However, when I get my next paycheck in a couple of weeks, very little of it will go toward debt at all instead of my target of $1000 extra. Why?

There are three things that are contributing to drastically slowing down my debt repayment, for the next few months at least.   Read More

Student Loan News: Earnest Acquired by Navient

If you have a student loan and are looking to re-finance with Earnest, or already have refinanced with them, news broke today that they have just been acquired by Navient for $155 Million.

Read about it here (BizJournal), here (Wall Street Journal) , or here (Earnest Blog).

Earnest, has been a popular financial technology startup since it’s creation in 2013. Like SoFi, CommonBond, and other such lenders, Earnest uses technology and data analysis to identify lower risk borrowers in ways that were not readily available in the past. This kind of lending model is a lucrative area that Navient has been eyeing for a while.   Read More

[-$64,900] Deficits & Daydreams

This is now the second month that I’ve paid less than my target bi-monthly payment amount. As I mentioned in this post, I have a mid-month payment that is required by my servicer, but I also have an end-of-month surplus payment that I use to pay extra on my loan. My end-of-month target payment has been $1,000. So far this year, I’ve managed to hit that  target, until recently. I’ve been having a long standing battle with overspending my budgeted allowance. It’s a battle that I’ve clearly been losing.  Read More

[-$65,348] Data Breach Edition

I’m feeling exhausted and in need of a break. Not just a break from work, but I also need a financial break. Like over 140 million Americans, I’m simultaneously infuriated and apathetic about the Equifax data breach. I’m furious that Equifax (and likely their competitors as well from what I’ve been reading) can be so lax in their data security.

On the other hand, I’m also numb and jaded given that I’ve already been affected by multiple large breaches already (university, state gov’t, retailers, data companies). My social security number has been compromised so many times, it doesn’t know which way is up anymore. And this Equifax data breach is the worst of all.

These organizations and corporations never appear to face any consequences. Needless to say there is something wrong with this. Companies that can profit from their own lax protocol and data handling will never have any incentive to do any better. They are like bad student loan servicers that misplace paperwork and neglect proper record keeping, then profit even more from the resulting slew of borrower defaults. Read More

[-$66,952] My Health Sinking Fund Has Sunk

 

Short post today, as things are hectic with work. I am looking forward to the long weekend!

Instead of my customary $1,000 payment at the end of the month, today I only put $700 towards the student loan. Why? Overspending in my budget. In particular, I’ve been spending a lot of money on health care. My health fund, which I funded at an unusually high $2.5k early this year, is already exhausted.

The bad news is that all of these tests and supplements are expensive. Thus, my health fund, a sinking fund, has sunk.  Read More

[-$67,520] Making Hay While the Sun Shines

Why do I make such large payments on my student loan debt? Because, for now at least, I can.

In the past month, I’ve dodged a bullet that would have raised my rent by over 50% (losing a new roommate because of discord in the house). So far the climate in the house is improving. I’m really hoping it continues.

I’ve always known, and written here, about how my cheap (for this area) rent will not last. At some point in the future, LL (landlord) will stop… landlording and we’ll all have to leave. When that happens, my rent will go up significantly as soon as I move anywhere else. So I must pay as much as I can now  toward this debt, while I have this cash flow. In other words, I have to make hay while the sun shines.  Read More

[-$69,127] Another Public Transit Rant

Source: funnypictureoftheday.net

If you look through the window, even the guy on the next train is like, “Really, chick?!”

The woman in the red shirt is just … over it. I can so empathize right now.  It’s time for another public transit rant.

I’ve written before about public transit. I am, of course, very grateful for the convenience, but I pay more than one price for it.  Here are some things that I deal with… If you also take public transit and recognize these things, feel free to sing along…

If you don’t take public transit, run outside and kiss your car right now. RIGHT NOW, I said!  LoL.

Read More

[-$69,966] I’m in the 60’s! It’s Outta Sight!

A year ago today, I’d also reached another milestone. I’d just broken the six-figure debt barrier and had only $98,992 of debt at the time. That was cause for celebration. This, reaching the 60’s, is also something to celebrate. I hope this will mark a July milestone trend.

Current stats from my lender:

Read More

[-$71,637] Are There Financial Benefits to Being ‘Single AF’?

It is safe to say that I am single AF, hence the title of this blog.
I know right?! Finally, truth in advertising!

All joking seriousness aside, it’s good to know that others in my situation are managing to find a faint silver lining to the cloud that is our sad lives…and that lining might be financial.

First, let’s face it. For those of us who are in debt, being single makes getting out of debt even more of a struggle. Couples simply have more money to throw at debt. They can lean on each other for financial security in the event of job loss, etc. Plus sharing a house / apartment  and living expenses with an SO or spouse provides a significant step up in quality of life vs. living with rando roommates. Need I go on? There are many, many financial advantages to being in a relationship.

There may also be, however, a few benefits to being single when paying off debt. Gasp! Did I just say that? Well, it depends on how you want to look at things.  Read More

[-$71,595] Independence Day

Happy 4th of July!

I’ve decided to go back to making semi-monthly payments. Waiting an entire month to see my balance drop was feeling excruciatingly slow. I think this way will keep me more motivated.

Expenses are going up

Fireworks aren’t the only thing going up these days. Read More