[-$79,700] I’m in the 70’s! It’s Groovy!

love-70s

Yeah, I’m Stayin’ Aliiiiiiiiiiiiiive!  Break out the 8-tracks!

I hadn’t expected to get here this soon! Best. Tax. Refund. Ever. Wicked!

I finally feel like things are starting to shift with this debt. Can you dig it?

Current stats from my lender:

Original Balance: $112,258
Remaining Balance: $79,700
Monthly Payments:
$2,650.00
Term Remaining on Debtor’s Prison Sentence: 2 years and 8 months
Current (variable) Interest rate: 3.77%  (up from original rate of 3.42%)

This is how I’ve been strutting and singing around town today…

Yeah, with my over-the-shoulder jacket, white pants and everything. The abandoned buildings weren’t hard to find, actually. I had to walk unfortunately, because I was informed by ABBA that I’m waaaay a little too old to be a dancing queen. 😦

I’m keeping an eye on rising interest rates, but I’m not sure when would be a good time to try to re-finance to a fixed rate or lower variable. How much more of the principal should I knock off before I qualify for lower rates?

Catch you on the flip~side.

1970s-girl

“Debtor’s prison is real, and opportunity cost is a bitch.” (DDSW)

33 comments

  1. Fiscally Fit Chica · March 17

    I’m sooooo happy for you! Meanwhile, I submitted my disability application online on Wednesday. Am waiting for an official diagnosis but it’s leaning toward bipolar. I’m so proud and happy for you, including your amazing press. You go girl!

    Like

    • Thank you! I hope your application goes through so that you get the support you need. You’re free of that toxic workplace and now you can focus on healing. Onward and upward, my lady!

      Liked by 1 person

  2. Isabella · March 17

    Wow, that is really good news! I have always thought that when you get into the 50’s, you will feel like you are in the land of the living. You must be feeling the reality of that debt weight slipping from your shoulders a bit. It’s the momentum they always talk about. Keep fighting the good fight!

    Liked by 1 person

    • I will, Isabella. Thank you. If I can keep up these payments, I might be able to squeak into the 50’s at the end of the year. That’s something to look forward to!

      Liked by 1 person

  3. vikingtantan · March 18

    Congrats!

    Like

  4. Maria · March 18

    Congratulations! 😀 Have you asked about refinancing, fixed rates etc?

    Like

  5. thesingledollar · March 19

    Awesome! That is so exciting. You’re down to less than three years! You’ve made a ton of progress recently and it’s so cool to watch.

    Like

  6. I don’t think you need to worry about your balance too much if you’re applying for a refinance, unless you’re significantly lowering your term (which I’m guessing you’re not, because over $2000 a month is a HUGE payment). I think it’s more a matter of your credit and income.

    Like

    • Yeah. At some point sooner or later I will try to refinance to get a fixed rate or a lower variable. Couldn’t hurt.

      Like

  7. zeejaythorne · March 20

    YAH! You’ve worked so hard and the 70s were great if you were there for a short time 🙂

    Like

    • Thanks! I’m old enough to have been around in the late 70’s, but too young to remember or enjoy it, sadly.

      Liked by 1 person

      • zeejaythorne · April 4

        I doubt I would have enjoyed it much either. Homosexuality was a tiny bit against the law.

        Like

  8. Cynthia · March 21

    Good for you DDSW! Keep up the great work you Debt Slayer!

    Like

  9. Anonymous · March 22

    Girl, you are so friggin’ close to positive net worth. Rock on!

    Like

    • czanclus · March 22

      I was just going to comment on the same. I bet it’s going to feel like breathing clean air after years in some dungeon underground. At this rate, you’ll surpass me by this time next year. I don’t foresee being in the “black” for another two years minimum. Not a competition by any stretch, I just seriously need a bigger shovel. My savings are a joke, and my retirement fund a hysterical comedy.

      By these (https://dqydj.com/wp-content/uploads/2014/11/net_worth_centiles_2013_scf.png) statistics, only 15% of Americans have a negative net worth. It’s really depressing to think that quality people (intelligent, talented, hard-working, responsible, cooperative) get mapped so low in terms financial security.

      Oh well, ain’t no bast**ds gonna get US down. Keep plugging!
      (I’ll start a blog when my debt hits $26.2K (a marathon’s distance worth in $K :-))

      Like

    • Thank you! Yeah, it amazes me. *Continues to rock on.*

      Like

  10. Dolores Gonzalez · March 22

    You’re amazing! Look at you go! Congratulations! I hate that song by the way lol but I can’t seem to look away from the lead singer’s freakishly white teeth.

    Like

  11. Dolores Gonzalez · March 22

    I can’t wait to see the Flapper Dancers when you get to the roaring 20s

    Like

  12. Lucy · March 25

    Wowza! Great job! On a side note, now you’ve got me singing all those great tunes from the 70s! lol

    Like

  13. Paul, London, UK. · April 8

    Very big congratulations on this. I pray your momentum keeps going. Will you become Doublesavingssinglewoman when you cross over into credit?

    Like

  14. Anonymous · April 10

    Two years, eight months? That’s awesome. You should be very proud of yourself 🙂

    Like

  15. Terri · April 26

    Ok, now I have Dancing Queen going through my head!! Making me think of days gone by and nights out when this song would get everybody moving!!

    You are killing it on the debt repayment!! You are putting more toward debt repayment per month than I even make, gross!! (That is just sad, for me. But awesome for you!)

    🙂

    Like

    • Thanks! I am grateful for this job, but being able to make these payments, as you already know from your previous job, comes at a price. It’s stressful. And living with roommates drives me crazy. Yeah, I think I may have mentioned that about 87 times so far on this blog, heh. But I’m going to keep going.

      Like

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