MoolahMonkey

I just paid off Loan #2 of 5! I’m now one step closer to achieving dat debt-free life. At least until I become a mortgage owner.

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Here’s how I did it:

I wrote down on a post-it note that I wanted to pay off Loan #2 by the end of 2017 and stuck it on my door.

Whenever unexpected income came my way and I didn’t have anything more important to pay for, I’d immediately send it to my student loan debtor to pay for Loan #2.

Example: My mom gave me $50 for Christmas this year, so I used that to finish paying Loan #2 lol.

I’ve been applying the snowball method where you pay off the smallest debt first, and focus all your efforts on getting that number to zero. Then you work on the next smallest debt and so forth. In the mean time, you pay the minimum on all other loans.

I’m also changing my mindset to not think like a peasant anymore.

A peasant wants to buy new swag or go out for drinks whenever they get $50 from their mom for Christmas instead of using it to pay off loans.

A peasant wants to buy an aftermarket intake system for their Honda even though it doesn’t add any value to their car instead of investing in themselves.

I don’t want to be a peasant ever again.

Next goal: Pay off off Loan #3

 

 

 

 

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