Let me start by saying off… It’s HUMP day!
Today I paid off 1/3 of my student loans! Omg I’ve been so nervous about paying them off.. I was thinking well what if I have an emergency with my house, car or family??…. BUTTTTTT that’s why I have an emergency fund..It’s crazy that I was nervous about letting go of my debt! This should be something I was happy about..
It was soooooo amazing seeing my account that high (for a brief moment lol then I paid off my loans). My federal loans are all paid off! I am so happy and thankful that God gave me the strength to use what HE gave me to pay them off. Now I just have to attack the private loans and I will be A OK. Imagine I graduated from school going on 2 years now and am 92% finished with my Master’s and I still have debt from undergrad.. This is very sickening to me!
My thought process is that I have these loans literally sitting there not doing anything but accruing more and more interest. Yet I was so scared to use the money I had to just pay it off in full! I named this blog the Sustainability – Looking Past Your Past and Not So Far into the Future, because we tend to base our debt to income ratio with our future income. But what happens when that future income never comes (Family Emergency, lack of budgeting, loss of job etc). We should focus on the present not only for the sake of our finances, but our lives. One can say that by next year, they will be married with a child on the way, but if that individual is not in a relationship nor dating how is this goal realistic?
I want all of my followers to recognize the present and achieve what is achievable now. I am not saying don’t have goals or not to chase them, please believe I am a dream chaser, I love dreams and I think even the wildest dream is attainable. But I think regarding finances it is best to not worry about tomorrow’s riches, but today’s attainables (<- is this a word?). I read somewhere that living one year like nobody else (year of sacrifices) can lead to living like nobody else for years (years of comfort). Saving and paying off debt is now. So get on board.
How do you plan to pay off debt this year? Do you have a savings plan? What are your goals?
Jasmine’s Financial Goals for 2014:
-Pay off Federal School Loans
-Pay down Private School Loan by 45%
-Max my Roth IRA
-Increase Emergency Fund Savings by 50%
So I just thought about it.. I need to focus on my graduate school work. It’s my last semester and I am already behind.. OY…
Here are some picture from my trip to Keywest, Cozumel and Miami.. If you work hard you deserve to play hard too.