Year In Review / Month 9 Update

I started this blog in April 2012. This was about a month after getting hired in my current role. A lot has happened this year.

  • Beginning of the year I had 3300 of credit card debt. Since September I have had 0.
  • Before June 2012 I was renting a 3br/2br floor 1300sq ft apartment for 1285/mo. Today we have an 1800 ft townhouse with a lower monthly payment. My partner’s company covered the bulk of our closing costs. 3.5% down payment, under the 20% so PMI is involved but still the mortgage payment is around 1020/mo while still building equity.
  • In February I got laid off from a company I worked at for a mere 6 weeks before they filed Chapter 11, bounced my semi-monthly paycheck and haven’t been paid for the time I worked since.
  • Visited New York. The trip itself was fun though getting sick, laying out a couple hundred for a housing situation, missing my flight, paying for a cab and getting into a heated discussion with my bf all put a dampener on how much fun I had.
  • Networking – I made some new friends at work and outside. Some of them are not exactly complimentary to me though. The ones who spend $100 on a dinner without flinching, I’m really not at the same level they are.
  • Car – Been doing preventative maintenance. Got new front rotors and pads, though the rears need to be done soon. In June I got a great deal on 4 tires for 396 installed.  Need to get my CVT drained and filled soon. My car was built 5 years ago and though it’s not the most fun to drive, it has been pretty reliable other than the one hot day when a valet left it on.
  • Living less paycheck to paycheck. Weeks have gone by where I literally didn’t have enough in my accounts to not have to tap into credit. Knock on wood, I am 2-3 weeks ahead and plan to increase this buffer to several months.
  • Applied to over 30 jobs positions this year between losing my job in February and starting a new one in March. Went on an interview for a job that would pay near double my current salary and due to a technicality was not offered the job at the last minute.

I could have accomplished much more this year, but I’m celebrating all the baby steps along the way.

Month 9 Update

$1800 in the bank before my 2nd loan  payment to Sallie Mae. Estimating my new balance after payment but today my balance is 42361.98. Assuming the same amount goes toward principal as last month I will owe around 42057.

January 2013 Sallie Mae Update.
January 2013 Sallie Mae Update.

2013 is just around the corner. Here’s to making headway in getting these loans paid off!

I also started reading Early Retirement Extreme by Jacob Lund Fisker. It’s a good read, packed with information. I’m only on Chapter 2. I never really connected the dots before, but now it makes more sense on how people can retire early and how liberating living below your means really can be over time. I’m beginning to see how working constantly can leave little time to develop new skills to make a person more competitive in the marketplace. Basically an ongoing cycle of experienced workers being phased out by recently college graduates who have time to undergo more training.

Early Retirement Extreme
Early Retirement Extreme

3 thoughts on “Year In Review / Month 9 Update

  1. Congrats. Happy New Year. I’m wondering if I should consolidate my Sallie Mae loans. I have a couple that are really low interest. But once I pay those off, the rest are at 6%, do you think I could consolidate them and get a lower interest rate?

  2. Depends how much lower and how much in fees you would have to pay. It’s easier to pay one loan than several at once and if you can drop from 6% to 5% or lower I think it’s worth it. Also is Sallie Mae giving you a discount for automatic payment? They dropped my rate a quarter percent from 4.5 to 4.25% after paying on time for about a year. What do you have to lose?

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