I’m gonna keep this short, but…
Since I started this blog I’ve paid over $29k not including interest on my student loans. Sort of like with compounding interest, I will see the biggest improvement in my later years. In 2010 and 2011 I paid either 0 or a portion of interest as part of the income based repayment program.
Been a tough road, but I can do this. I am doing it. The finish line is getting closer and closer.
And for my car… Down $4,749 from my original loan balance of $16,762. If you’re going to not be smart and buy a slightly used but more depreciated value vehicle. Doing what I did, negotiating down, getting a good deal on a trade (or selling it separately) getting a 0% financing option is the next best thing. When every payment goes to principal the outstanding balance drops pretty quickly.
I repeat myself a lot on this blog. Habits are everything and repetition is the mother of skill.