Okay so, what’s going on with those loans?
By December 2014, I had been a traveling physical therapist for 2 years, had a car loan for a little over a year, and was paying, randomly, extra money every month towards my loans.
In January 2015, I started working a second job in my “spare” time. This will be the first time in my career life that I am working two jobs. My loans were fed a lot in January!! $$$
By February, I had decided to move to a Caribbean island, stop traveling physical therapy, and take about a 50% pay cut. I was okay with the decreased pay because I was very excited about this new adventure. I didn’t quite think about how this was going to affect the progress of my loans.
Remember how I was paying max payments, while on the 10 year plan? Well I switched all the loans to minimum payments on a more long-term plan. Whomp Whomp…That light at the end of the tunnel was getting further and further away.
I moved to the island, dropped around $8,000 on an “island car” and started pinching pennies wherever possible. Which, let me tell you, is not as easy on an island as it is in the states. What happened to that brand new Prius I bought? Oh, I will continue to pay on that for months until it sells, while it sits through its first winter in the Northeast.
So grand total for loans around March 2015?
Student: around 150K
Progress? For sure. Where I should be? No.
Reminder: DON’T BUY THE CAR.
Don’t worry… I will eventually be on the right track…stay tuned for how 🙂