Beachgirl's Budget Blog

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  • Debt-o-Meter (as of 8/31/15)

    Citicard BT - Paid Nov '14
    100%
    $2,060.00


    D's Law I - Paid Aug '14
    100%
    $1,128.92


    D's Law H - Paid Oct '14
    100%
    $1,786.90


    D's Law C - Paid Dec '14
    100%
    $3,271.61


    D's Law G - Paid Jan '15
    100%
    $3,886.30


    D's Law D - Paid Jun '15
    100%
    $7,861.78


    D's Priv #1
    Current Balance: $4,801.24
    Interest Rate: 4.75%
    Amount paid: $6,215.30
    56.4%
    $11,016.54


    D's Law A
    Interest Rate: 6.8%
    Note: $0 due based on IBR
    0
    $8,517.40


    D's Law E
    Interest Rate: 6.8%
    Note: $0 due based on IBR
    0
    $8,517.40


    D's Law F
    Interest Rate: 6.8%
    Note: $0 due based on IBR
    0
    $15,334.27


    D's Priv #2
    Current Balance: $17,677.49
    Interest Rate: 3.41%
    Amount paid: $3,264.92
    15.6%
    $20,942.41


    D's Law B
    Interest Rate: 6.8%
    Note: $0 due based on IBR
    0
    $40,909.70


    T's Law
    Interest Rate: 6.8%
    Note: $0 due based on IBR
    0
    $40,446.81


    T's Fed #1
    Current Balance: $11,391.32
    Interest Rate: 1.375%
    Note: $0 due based on IBR
    19.8%
    $14,198.74


    T's Fed #2
    Current Balance: $19,747.81
    Interest Rate: 1.375%
    Note: $0 due based on IBR
    24.1%
    $26,000.00

Student Loan Consolidation

Posted by beachgirl on 08/18/2015

When I first graduated from grad school back in 2004, I consolidated my loans to lock in my 2.875% interest rate.  By doing auto draft, the rate dropped to 2.625%, and then, after I paid on my loans for 3 years, I got a 1% reduction (dropping it to 1.625%).  While I was in law school, my loan payments were deferred.  After law school, I started paying on them again…but I wasn’t in a rush to pay them down since the interest rate was so low and we had other student loans with much higher interest rates.

After getting my job at the courthouse for the State of NC, I became eligible to qualify for the Public Service Loan Forgiveness program after 10 years of public service.  My student loans from law school were automatically eligible, but my 1.625% loans were not.  In order to make them eligible, I had to re-consolidate them to a Direct Consolidation loan.  I logged into studentloans.gov and filled out all the paperwork for the new consolidation.  It took about a month for the consolidation to go through and my loans stayed locked in at 1.625%.  Yeah!

I also had them set up to the Income-Based Repayment program so that my payment is based on our income.  Even though I currently don’t have to make a payment, I was able to sign up for auto draft, which lowered the interest rate to 1.375%.  That definitely helps keep the interest from accruing so fast.

We have to redo our Income-Based Repayment soon (we have to do it yearly), so we’ll have to start making payments in the next few months.  I’ll post on that once I know what our payment will be.

Posted in Debt Repayment | 1 Comment »

Goals for July 2015: Update

Posted by beachgirl on 08/12/2015

  • Put at least $1,000 towards our down payment fundSUCCESS!!  We put over $1,800 into the down payment fund.  Woohoo!
  • Go through file cabinet & scan documentsFAIL!!  I went through the filing cabinet, but still haven’t scanned the documents.
  • Finish reading “Outlander”FAIL!!  I’m about 80% through.  It’s a long book and I haven’t been able to read as much as I’d like.
  • Create new cleaning schedule – SUCCESS!!

Posted in Monthly Goals | Leave a Comment »

July 2015: Debt Update

Posted by beachgirl on 08/09/2015

Now that our focus is on saving for a down payment, our overall student loan amount is increasing.  D made two payments towards Private #1 in June (one was at the end of the month to cover July’s payment), so that is why there wasn’t a change this month.  Once we buy a house (we’re hoping to buy sometime after the new year), we’ll focus again on paying down the student loans.

Debt

Posted in Debt Repayment | 2 Comments »

July 2015: Snowflaking

Posted by beachgirl on 08/06/2015

Total to House Down Payment: $1,843.18

  • $1,118.00 – Monthly
  • $417.00 – Tips
  • $92.00 – Sold old TV
  • $140.43 – Other
  • $7.60 – Dividend earning
  • $67.19 – Left over from groceries
  • $.96 – Interest

Posted in Snowflake | Leave a Comment »

My Net Worth: July 2015

Posted by beachgirl on 08/03/2015

Net Worth

Change since 12/31/2005: -$22,849.79

Posted in My Net Worth | Leave a Comment »

Goals for July 2015

Posted by beachgirl on 07/15/2015

  • Put at least $1,000 towards our down payment fund
  • Go through file cabinet & scan documents
  • Finish reading “Outlander”
  • Create new cleaning schedule

Posted in Monthly Goals | 1 Comment »

Goals for June 2015: Update

Posted by beachgirl on 07/12/2015

  • Put at least $1,250.00 towards D’s law loansSUCCESS!!  We put $2,103.26 towards it this month.
  • Go through books & get rid of ones I no longer want – SUCCESS!!  I went through my books but ultimately decided not to get rid of any at this time.
  • Go through file cabinet & scan documents FAIL!!

Posted in Monthly Goals | Leave a Comment »

June 2015: Debt Update

Posted by beachgirl on 07/09/2015

As I showed in a recent post and as you can see below, we paid off another of D’s law school loans this month.  We originally thought we wouldn’t pay it off until July or August, so we were very excited to pay it off in June.  Now that we paid off the last of D’s loans that had an interest rate of 7.9%, we are going to switch gears and start saving for a down payment.  Which means that we won’t be paying much towards our student loans for a little bit.  (D has two private loans that we have to pay each month, but all the rest are in income-based repayment and our payment is $0.)  I’m going to do a post later this month about our house buying plans/goals and our future student loan repayment goals, so stay tuned for that.

Debt

Posted in Debt Repayment | Leave a Comment »

June 2015: Snowflaking

Posted by beachgirl on 07/06/2015

Total to Student Loans: $2,013.26

  • $35.83 – Left over from electric (May)
  • $26.80 – Left over from groceries (May)
  • $733.50 – Monthly
  • $313.00 – Tips
  • $6.00 – Pinecone earnings
  • $10.00 – MySurvey.com earnings
  • $667.50 – Firm earnings
  • $220.63 – Other

Total to House Down Payment: $182.23

  • $120.00 – Tips
  • $25.50 – Capital One rewards
  • $36.61 – Left over from groceries (June)
  • $.12 – Interest

Posted in Snowflake | Leave a Comment »

My Net Worth: June 2013

Posted by beachgirl on 07/03/2015

Net Worth

Change since 12/31/2005: -$25,384.02

Posted in My Net Worth | Leave a Comment »

 
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