January 28, 2012
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Nearly Out Of Debt!!!!
I got my student loan money on Friday. I immediately set about paying off debts. I paid a high amount on 2 credit cards (leaving about $1300 in debt between the two) and completely paid off the third. I also paid my phone bill that I was 2 months behind on. I paid my lasik bill that I was 2 months behind on. I paid $400 toward my car payment, even though I only owed $203.51 for the payment. I also got everything back from the pawn shop. I must say it feels great having all my stuff back!!!
So now, I think I’m going to wait for my taxes to pay off the rest of my credit card debt. I’m going to put a large amount into a savings account, and hopefully I can live off of unemployment money for my basic bills and needs. We’ll see how it goes, I guess.
It’s bittersweet, paying off debt. I mean, it’s nice paying it off, but it hurts every time I see the amount in my account go down when I balance my ledger.
Anyway, I’m going to go play some guitar hero, because I’ve missed it, lol.
Comments (11)
So you received student loan money and you used it to pay off your credit card debt? That is not paying off debt, it is transferring debt.
@TheTheologiansCafe - Technically, yes, but the interest rates are a 25% difference, so to me it’s paying off debt, lol. And it helps my credit score right now because I won’t have to pay my student loans back until I graduate.
It would do you well to begin to pay off the student loan, even in small amounts,as soon as you can.
@RighteousBruin - Yes, that’s what I’ve heard… but I would definitely need a job first. I won’t be able to on unemployment.
I agree with them but still: Congratulations!
yeah…congrats!
I’m glad you made a serious effort to get out of debt, and hopefully you will able to pay your student loan later.
It’s a start I’m still paying off student loans. I refuse to touch a credit card.
Good for you! But remember those student loan payments are a killer when they come due!
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