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College Loans, Car, Finances...

In the effort and attempt to make a new car possible, I have decided to pay off my college loan slightly ahead of schedule. The very nice raise that I got at work is making this possible. Today, I just paid $210 more to the loan which only has $415 (if you include the potential accrued interest) left to be paid off of a $17,000 loan for college. That means when my next paycheck comes in, I’ll be able to completely pay off the loan, since the remainder was my budgeted allotment for Sallie Mae.

It will both be a blessing and a bane to have the loan paid off. Having it paid off will enable me to save more money – if I weren’t getting a new car. It also enables me to have more money for a new car – the bane part. Having a new car means a new payment. It’s all a very scary, very confusing business. I’d rather just have the extra money to pay off all the other glaring bills, but the new car is a necessity.

I just wish this vicious cycle would end where, by some chance of luck a windfall comes my way, and then something else comes along to sweep it out from under my feet. It feels like I’m getting no where, fast. My budget is already pretty tight. I’ve cut out non-essential anything and everything. Rarely do I impulse buy. I barely go out or do anything of consequence anymore. It’s just really, really frustrating.

I think the next step is seeing if my father can store my things, so I can cut out the storage facility fees. I think if I do that I’ll be able to half that money into savings and put the rest toward bills. You’d be surprised how much even a few extra dollars can add up. It helps, too, that I’ve started an IRA account with where I work, as they match 3% of whatever I put in. Still, frustrating.

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Nynrose - Lisa Christie
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