Woot! I’ve made it to the 30’s. FINALLY! Now that I’m here, I can start to see the light at the end of the tunnel. I’ve already paid off over $30k in credit card debt before, so I’m getting back in familiar territory and know I can take down this last block of debt.
Current stats on my student loan
Original Balance: $112,258
Remaining Balance: $39,900
Monthly Payments: $2,000 – 2,800 🙂
Term Remaining on Debtor’s Prison Sentence: 1 year and 3 months
Interest rate: 3.25% (now fixed rate!) 🙂
Even with my recent stumbles with overspending, if I get back on track and stay on track with ~$2800/mo payments, I’ll make my last student loan payment on December 30th, 2019. By January 1, 2020, I will be debt-free!
When I got my loan down to the 40’s, I was thinking about re-financing my student loan again, but didn’t want to leave my servicer. My old variable rate had risen to 4.88% with no end in sight. I then found out the good news that my servicer allows re-refinancing. So I did that, and got a lower fixed rate of 3.25%, and got to keep the service that I’ve been enjoying. I’m also feeling better about getting the fixed rate now.
My Savings Account Gets More Interest-ing
Yeah, bad pun. I know. But look at this! The interest rate for my emergency fund is almost at 2% now. Better than the microscopic 0.15% (?) I was getting at the other place. Glad I switched.
This isn’t enough to keep up with inflation by itself, but it goes a long way toward helping.
In the Sprint
I’ve reached multiple other milestones lately, including having paid off over $100k of debt. If all goes well financially, I’ll have one year to plan my next moves. What comes after debt? Potentially a lot of changes.
The closer I get to the end of this tunnel, the faster I want out. I wish I had a Jessie Owens style financial turbo booster to rocket me there.
Jessie Owens. 1936 Olympics.
What’s Next
Making payments and making plans. 🙂
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“Debtor’s prison is real, and opportunity cost is a bitch.” (DDSW Archives)
Double Debt Single Woman 
Great job! I think 1/1/2020 is a great goal date. New decade, new life. Hopefully a new love to kiss at midnight.
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Thanks!
I know! I love the idea of having a clean slate on 1/1/2020.
“..a new love to kiss at midnight”. Now THAT would be the dream! No debt, a hot SO at my side, and a world of opportunities! 🙂
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Congratulations! I’ve been following your blog for a while, and you inspire me. I’m not as far along on my debt journey as you are, but I’m slogging down the same path.
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Best of luck on your debt fight. I’m in your corner. I really like the first post of your blog. It seems we have a lot in common. I’ll be checking in there to see what you’re up to. 🙂
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That is wonderful – and a huge accomplishment. Congratulations!
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Thanks, Anonymess!
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Very well done for getting down to this level. I can’t believe how quickly it’s gone down. It has gone from a big burden to something much less daunting. It is nice to hear good news like this. Paul. London.
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Thanks, Paul from London! 🙂
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Congrats! You’ve been so inspirational in my own debt slaying journey!
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Thank you. 🙂
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Yes, you can do it! Starting 2020 with no student loan debt would truly be a Happy New Year. Go for it😊
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Indeed! 🙂
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Way to go! I enjoy the Marcus savings account. Your student loan interest rate is awesome! Who did you refinance with? I’ve been debating if I should do this.
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You can get these rates with either Earnest or SoFi, but don’t discount other servicers. Apply to a bunch and see what rates you get. Mine is on a five year term so that also contributed to it being a little lower.
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This is so amazing, you are so close to being debt free!! YESSSS!!! Isn’t wonderful that banks are starting to finally pay more for savings accounts??? My Savings Direct is offering 2.25% right now.
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Hmmm. 2.25% looks good. I’ll keep an eye on that.
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The end is in sight! Awesome. And that is a fantastic fixed interest rate. You can do this!
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Thanks, Isabella. Indeed. 🙂
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Congrats on the milestone! I’m secretly competing with you for motivation. I have less debt ($21.5K) but also a smaller shovel. I’m so inspired by your hard work! Here’s to both of us being debt free before 2020!
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Hey, there is room at the finish line for everyone! Let’s go! 🙂
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Way to go! I can’t wait until I’m hanging out in the 30’s with you!
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You’ll be there before you know it! 🙂
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Congrats! I think I started reading your blog when you were in the 20s of credit card debt. I was so amazed that you paid off your credit card debt so fast at the time and it was very inspiring. You’ll be debt free in no time!
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Thanks! Yeah, those days seem like forever ago. I’m ready for the 20’s again, though!
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Congratulations! That’s so exciting. And to be almost done and to be able to think about what you want to do next. There is so much opportunity now that you can really see that light at the end of the tunnel.
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Yeah, I’m looking forward to it. The first thing I’m going to do is build up my emergency and opportunity funds. After that? Well, I’m figuring that out… 🙂
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The 30s are a good decade!!!
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They are indeed! 🙂
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I’ve been pretty out of it recently but I couldn’t let a new “decade” go by without congratulating you 🙂
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Thanks, C! 🙂
Yes, things have been even more crazy-making than usual lately. I’ve wanted off this ride for two years. 😦
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Congratulations, it sounds like you’ve come a looooong way! I hope to start really focusing on my mortgage soon. It’s pretty low, so I should be able to take it out in the next few years. It’d be sooner but I’m way behind on saving for retirement and I’m already 40, so that has to take precedence.
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