Financial Fridays: the last big DEBT

This is a terrifying number to put out there, but I have one last debt to resolve…my STUDENT LOANS!

Thankfully, I worked hard and paid off the rest of my debt, but this one seems to be never ending.  It almost gives you stomach pains to see the due balance, but it’s amazing to see that the amount due is ZERO because I’ve finally learned to manage my bills.

So let’s start with the scary current total: $54,925.34

The balance used to be much higher, but I have no regrets to having borrowed the funds. The educational opportunities I received from being able to borrow money has afforded me some incredible experiences. Making the investment in me has proven to be a good thing (ha!).

I thankfully don’t own property so I don’t have an additional huge debt at the moment. Yes, I understand that assets might give me a tax break, but being tied to one geographic location and the implications of rising property taxes is not something I need to also worry about right now. I have freedom to explore new opportunities and change my scenery at an instant.

I would, however, like to create a plan to whittle this down significantly. Ideally, I’d like to finally pay off this debt in 10 years or less.

Yes, I just put it in writing….this debt will be gone in TEN YEARS.

So, now to create a plan!  I welcome your thoughts and suggestions to make this happen on a non-profit salary.

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