UPDATED Progress

Navient was able to switch how my payments were supposed to be allocated.  Here’s an update about where my student loans stand (plus a weeks worth of interest).

DEBT BREAKDOWN

Federal Student Loans:  $59,946

Private Student Loans: $29,064 

  • StudentLoan#1: $1,609
  • StudentLoan#2: $10,455
  • StudentLoan#3: $17,000
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2 YEARS! Progress Update

Debt Perception has been around for two years! Happy blogiversary to me! Let’s take a look at how I’ve done financially in the past two years!

Original Debt (December 14, 2012): $102,645

Current Debt (24 months later): $88,967 

My debt has decreased by $999 since last month. An overall reduction of $13,678 in 24 months. I’m now at 13.32% of my debt payoff goal.

DEBT BREAKDOWN

Federal Student Loans $59,690 $59,923 (up $233 since last month, an overall $4,023 increase over 24 months)

Private Student Loans $30,726 $29,044 (down $1,682 since last month, an overall decrease of $12,027 in 24 months)

  • StudentLoan#1: $2,842 $2,790 (down $52 since last month, an overall decrease of $4,370 in the past 24 months)
  • StudentLoan#2: $10,446 $9,273 (down $1,173 since last month, an overall decrease of $1,917 in 24 months)
  • StudentLoan#3: $16,987 $16,981 (down $6 since last month, an overall decrease of $1,259 in 24 months)
  • StudentLoan#4: $0 (Gone, baby, gone!)

usedtoowe

If you saw my previous post, Navient messed up my last payment allocation. I had planned on over $1,000 going towards my smallest loan, with the hopes of paying it off in January. They had applied my payment to StudentLoan#2 instead. I perused Navient’s Facebook page and found somewhere that I could complain to. They had called me while I was busy at work all day and I don’t answer numbers I don’t recognize, so I didn’t get the message until about 7pm. I guess they could have fixed the payment to be applied as intended but I had to call back by 5pm. I’m sure it was too late to fix it as they aren’t open on the weekend. Oh well!  It was still applied towards my loans and I’m a little bit closer towards the principal balance on StudentLoan#2.

I’m going to start taking screen captures of my allocations and monitor my Navient account after submitting payments to make sure they apply it accordingly!

Messed Up

I think Navient is messing with me. This is not the first time it’s happened either, but I always contributed it to my own, human error…

A few days ago I made a rather large payment towards my private loans with the intent to pay off the loan with the lowest balance by the end of January 2015. I made smaller payments for the two higher-balance loans, based on their accrued interest.  You can see in the image below how easy it is to make sure what you’re paying goes to the correct loan.

navientpayment

Two days pass while my payment is pending and today I find out that they applied my LARGE payment towards the wrong loan. Oy! I am no longer on track to pay off the smallest one in January. I guess I need to start taking screen captures of how I allocate my payments. It’s not all bad because my money still went towards paying off my loans and got me a little closer to my principal balance on the one it was applied towards. It’s just frustrating how easily they can mess up your plans!

Extra Monies

I mentioned previously that I was going to try out delivery driving for Orderup, a company that delivers food for restaurants that don’t offer delivery.  It’s a great service and you can even have Cold Stone delivered, at least in my area!  They said I’d be making $12 an hour.  I ended up making an average of $5.54 an hour because people don’t tip well.  I used to think my husband was crazy for having a $5 minimum tip for delivery orders but now I understand!  I decided to nix Orderup from a side gig after just a few days.  I know you start out slow but I just couldn’t see making anywhere near $12 an hour, plus my work review happened…

It went well and I’m now making $1 more an hour and picking up a lot more hours.  Still not where I want to be but I like my job and I’m learning a lot.

With the holidays around, this time of year tends to be pretty good for making extra money from pet sitting.  I’ll be making a pretty sizable payment towards my student loans this month.  Definitely on track to have another loan paid off in January!

One-Third Life Crisis

I find myself standing at a major life crossroads.  Rather, I’m at roundabout that I keep encircling because I’m unable to decide which direction to go.  Round and round I go.

2015 is looking to be one hell of a year.  I’ll be turning 30 in the summer.  I will also be celebrating 20 years of being cancer free.  I’m looking at possible major geographical changes, relationship changes, career, health, and wealth changes as well.  I couldn’t be more scared.  Or lost.

I can’t really go into details but my stress levels are through the roof.  I can fully admit that I have no idea what I’m doing.  Hard decisions lie ahead.

23 Month Progress Update

Original Debt (December 14, 2012): $102,645

Current Debt (23 months later): $89,966  <—-Look at that!  Under $90k!  w00t!

My debt has decreased by $787 since last month.  An overall reduction of $12,679 in 23 months.  I’m now at 12.35% of my debt payoff goal.

DEBT BREAKDOWN

Federal Student Loans $59,473 $59,690 (up $217 since last month, an overall $3,790 increase over 23 months)

Private Student Loans $31,280 $30,276 (down $1,004 since last month, an overall decrease of $10,345 in 23 months)

  • StudentLoan#1: $3,059  $2,842 (down $217 since last month, an overall decrease of $4,318 in the past 23 months)
  • StudentLoan#2: $10,553 $10,446 (down $107 since last month, an overall decrease of $744 in 23 months)
  • StudentLoan#3: $17,156 $16,987 (down $169 since last month, an overall decrease of $1,253 in 23 months)
  • StudentLoan#4: $513 $0 (down $513 since last month, an overall decrease of $4,021 in 23 months)

StudentLoan#4 is GONE!  Navient went back and credited me the $0.13 since a $0 balance loan can accrue no interest!  I now wait 30-45 days for a paid in full notice.

It’s time to zero in on StudentLoan#1, like originally planned!  REALLY hoping I can get that paid off before the new year.  Holy crap, it’s November already!  Time certainly flies by!

I’m Doing the Health & Wealth Challenge!

I know it’s a bit late to mention this now that we’re in the second week of November, but I’m participating in Budget and the Beach’s Health & Wealth Challenge.

Basically, you workout 5 times a week for a minimum of 10 minutes, create a new healthy habit each week as well as a wealth habit, where you find a new way to make or save money.

My goals for the first week of November were to stop eating taking out food and to cook meals at home.  I failed.  I went to the grocery store with the intent to cook, but it never happened.  I was just too busy!  I did manage to workout 5 days a week for a minimum of 10 minutes and I started the Couch to 5k program.  I also made $108 at a yard sale!

I’m recycling my goal to stop eating take out food and to cook meals at home.  I pretty much have to work out for the next 5 days to meet the exercise goals after falling a bit behind with having a swollen eye the past few days.  I’m also going to start a new side income job, at least temporarily as I’m unsure it’ll be worth it in the end.  But we’ll see!