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Goal Achieved!

November 17th, 2012 at 04:20 pm

I can happily say that I have paid off my very first loan!!! I know it's the smallest one, and the one with the lowest interest rate, but it feels good to cross one off the list Smile I've also simultaneously reached a goal an entire month and a half early. Paid the final $399.72 today because I got paid yesterday. I feel the progress indeed.

I'm still under budget total for the month. I over-budgeted for the vet, but that savings funded a new set of gloves, a hat, and a scarf for me. Considering I've treated myself very little in the past few months, I feel okay about the purchase despite the fact that they weren't necessarily a *need*.

I still feel that I'll come out of November under budget. I can't say I'll have much extra income... mostly because I've been strapped for time recently and not devoting as much to my freelance work. I still need to squeeze in at least 8 more hours this month just to make what I budgeted for. With the holiday coming up this week I'm hoping that's possible. I'm looking forward to xmas break. I feel like I'm going to really bank with the extra time I'll have. My client has another project he'd like me on as well. There just aren't enough hours in the day.

I've been eating at restaurants a bit too much as of this week, though I'm still under budget. Just have to watch it in the coming weeks and stop with all the Dunkin Donuts coffee and wraps... Paid my internet bill today, and got all caught up on tracking. Feels good.

So the next goal... Paying off my highest interest loan by the end of next year. That's $12,802.56 in 13 months, or $884.81 every month-- or really more than that, because that doesn't include the tax. We're looking at close to $1,000/month-- so we'll see if I can reach the goal. I have faith (and more importantly, determination). I'll have a leg-up in January because I have a $1,000 in scholarship money coming my way. In April I'll be using any tax return money to put toward my debt, so that will also help.

Regardless, that is my mission and I hope to accomplish!!

Time for me to get to work. I hope you all have a fantastic rest of your weekend.

10 Responses to “Goal Achieved! ”

  1. mamasita Says:

    Congrats on the loan payoff! Keep up the great habits and I know you will reach your goals!

  2. Petunia 100 Says:

    Congrats! Smile

  3. LuckyRobin Says:

    Congratulations. It feels good to pay off any debt, whether it is small or large.

  4. TexasDisneyGirl Says:

    Way to go!

  5. Wino Says:

    Congratulations on the payoff! Are you doing Dave Ramsey's method? Research shows his method with the immediate feedback (such as you've just had) is the method most likely to succeed.

  6. wowitsawonderfullife Says:

    Way to go! Congratulations!

  7. snafu Says:

    It's such a good feeling to strike out each debt! Good on you. It's truly important to keep leakage as low as you can. If you like wraps, buy a package of tortillas, Romaine lettuce, grapes and thinly slice whatever meat or fish you've cooked. A bit of mustard or mayo, lettuce slice grapes and protein wraps in a tortilla in a moment, cut on an angle and held in place with a square of plastic wrap goes with you easily.

    If you like a bit of exotic, wrap your leftovers in a long strip of Romaine, with a sprinkle of sesame oil & soya sauce. Add a paper thin slice of sweet onion & minced garlic if you're not talking to people or carry TicTacs.

  8. Jerry Says:

    Way to go, knocking out that loan! There is no need to minimize that accomplishment, even if it was a smallish one, because it leads to the insurance that you can take a bigger chunk out of the next one! And the one after that... and the one after that... Great work, and keep it up. Smile Jerry

  9. Tara Dawn Says:

    Thanks for the support, everyone Smile

  10. Tara Dawn Says:

    @wino: I was using his method, yes. But now that I've gone through the first couple of steps and gotten into the right mindset, I think I'm going to tackle the higher interest rate now rather than the lowest overall balance. After the big one is done with, though, I'll start tackling the lower balances again-- it's just so drastically higher than the rest that it seems silly to not get that one out of the way first (because it'll be growing so rapidly comparatively).

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