Thursday, March 29, 2007
Paying Down the Debt
When I am finished with school, I will have a ridiculous amount of student loan debt. Thankfully, I don't have any credit card debt. I will also be paying off my car in the next two weeks, so school debt will be all that I have. I was able to pay the interest on my loans for the first year, so that will be very helpful in the long run (compound interest: friend, enemy). I posted earlier that whatever money I get from selling things will go toward debt. I was able to make a payment of $162 the other day just from two weeks of eBay sales! I don't expect to be able to sell that much on a regular basis, but I am just going to keep reminding myself that every dollar counts. Every dollar is one step closer to financial freedom!
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3 comments:
Good for you on your determination to be debt free, and commitment to pay your debt down! I like your idea of putting your ebay sales towards your loans. Every dollar does count. You may want to try to pay your payments a couple of times of month (even if it's the same amount). It will also cut down the interest since it compounds daily, you can cut off a couple years of your loan by doing this! (i work at bank..heehee...shshh)
lucy
ps..do you have alink for your ebay sales?
lucy
Lucy- Thanks for the great advice!!! I appreciate it so much, especially from an expert. ;) My eBay sales ended today, but next time I have something listed I will post a link!
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