How to Break the Living Paycheck-to-Paycheck Cycle

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  • Young_Chitlin
    Young_Chitlin Members Posts: 23,852 ✭✭✭✭✭
    edited March 2017
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    Young_Chitlin wrote: »
    $3,024 student loan payment, 40-45% of my student loan payment obliterated. I did some rough math and I was stunned to find out that I could potentially pay off my student loans by Memorial Day 2017.

    By the end of April 2017 I expect to finish paying off my student loans. I really will be on rice and beans for April 2017. It will be worth it though. Thank you to my tax return for the boost and my financial discipline, I can confidently say that I will pay off my student loans by the second check of April 2017. What a whirlwind 95+ days it has been. One more month and change to go fellas, one more month CARAJO!
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  • Young_Chitlin
    Young_Chitlin Members Posts: 23,852 ✭✭✭✭✭
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    When you get a chance check to see if your student loan company is on the stock market because that can really influence the interest you pay. I get charged $0.33 a day in interest because my student loan company is on the stock market
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  • Young_Chitlin
    Young_Chitlin Members Posts: 23,852 ✭✭✭✭✭
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    $1,626.92 left in student loans
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  • Young_Chitlin
    Young_Chitlin Members Posts: 23,852 ✭✭✭✭✭
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    $999.20 payment made on my student loans. About $568 left on my student loans, will be taken care of by the end of this month
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  • Bulletproof Wallets
    Bulletproof Wallets Members Posts: 1,405 ✭✭✭✭✭
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    @Young_Chitlin much respect to your success. I'm rooting for you cuz. I paid my car note early. I threw those ? $1100 to get of my back. Now I'm at $6700 in student loan debt and to honest this last debt seems the hardest to pay off. I could pay it off with gazelle intensity like D. Ramsey says but with my line of work (corrections) I need periodic releases and stress relievers along the way. Also haven't even started on my Roth IRA.

    The finish line of debt freedom is so close but it's hella obstacles. I don't like the feeling of working extra hours but not saving the added income. I still pay extra on my loans but I'm not giving the creditors ALL of my extras. His method works. 100% facts. It just challenges you mentally.
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  • Young_Chitlin
    Young_Chitlin Members Posts: 23,852 ✭✭✭✭✭
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    I expect to be debt free by mid February early March of 2018.

    10.5 months left to go.. I want to take my son to Disneyland CARAJO!
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  • Koltrain
    Koltrain Members Posts: 4,286 ✭✭✭✭✭
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    Young_Chitlin wrote: »
    I expect to be debt free by mid February early March of 2018.

    10.5 months left to go.. I want to take my son to Disneyland CARAJO!

    What was your loan balance when u started?
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  • Young_Chitlin
    Young_Chitlin Members Posts: 23,852 ✭✭✭✭✭
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    Koltrain wrote: »
    Young_Chitlin wrote: »
    I expect to be debt free by mid February early March of 2018.

    10.5 months left to go.. I want to take my son to Disneyland CARAJO!

    What was your loan balance when u started?
    Around 37k 4 years ago when I started my snowball
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  • Koltrain
    Koltrain Members Posts: 4,286 ✭✭✭✭✭
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    Young_Chitlin wrote: »
    Koltrain wrote: »
    Young_Chitlin wrote: »
    I expect to be debt free by mid February early March of 2018.

    10.5 months left to go.. I want to take my son to Disneyland CARAJO!

    What was your loan balance when u started?
    Around 37k 4 years ago when I started my snowball

    That's impressive. Good ? .
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  • Koltrain
    Koltrain Members Posts: 4,286 ✭✭✭✭✭
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    Koltrain wrote: »
    Young_Chitlin wrote: »
    Koltrain wrote: »
    Young_Chitlin wrote: »
    I expect to be debt free by mid February early March of 2018.

    10.5 months left to go.. I want to take my son to Disneyland CARAJO!

    What was your loan balance when u started?
    Around 37k 4 years ago when I started my snowball

    That's impressive. Good ? .

    My loan is at $45k. I wanted to start the snowball a couple years ago, but felt I needed a bit more than the $1000 Dave suggested as the first emergency fund. Now I have enough of a cushion and more than one income stream, so I'm planning on getting serious again this year.
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  • Young_Chitlin
    Young_Chitlin Members Posts: 23,852 ✭✭✭✭✭
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    $305.40 remaining balance of my student loan.
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  • Young_Chitlin
    Young_Chitlin Members Posts: 23,852 ✭✭✭✭✭
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    33deczb.jpg
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  • Bulletproof Wallets
    Bulletproof Wallets Members Posts: 1,405 ✭✭✭✭✭
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    $5800 remaining on my student loan. Man I'm really hoping for some available overtime so that I can agressively knock this bill out. I could really be debt free this year. Wow.
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  • MD_PROPER
    MD_PROPER Members Posts: 1,526 ✭✭✭✭✭
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    Young_Chitlin wrote: »
    33deczb.jpg

    Congrats!
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  • Young_Chitlin
    Young_Chitlin Members Posts: 23,852 ✭✭✭✭✭
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    All I have is my Jeep Patriot to pay.. I can finally breathe easier but still be gazelle intense to pay my Jeep off. When you are on your snowball and have only one debt to go, keep grinding.
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  • Bulletproof Wallets
    Bulletproof Wallets Members Posts: 1,405 ✭✭✭✭✭
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    Young_Chitlin wrote: »
    All I have is my Jeep Patriot to pay.. I can finally breathe easier but still be gazelle intense to pay my Jeep off. When you are on your snowball and have only one debt to go, keep grinding.

    ReQuoted for emphasis.
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  • Young_Chitlin
    Young_Chitlin Members Posts: 23,852 ✭✭✭✭✭
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    $11,878.35 left in my debt snowball.
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  • Young_Chitlin
    Young_Chitlin Members Posts: 23,852 ✭✭✭✭✭
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    I'm looking at as early as September 2018 to be debt free, hopefully no later than Xmas 2018 to be debt free, budgeting possible baby expenses. I been at this debt snowball since May 2013, been times I want to say ? this ? because I work to pay debt off pero you got to keep on grinding and sticking to your plan. Believe me, I want to go to the nice restaurant with my family, go on a two day holiday, all of that will come in time. When you see the finish line in the distance, remain committed to your plan and you will be debt free.
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  • traestar
    traestar Members Posts: 6,030 ✭✭✭✭✭
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    I just started my Help Desk job last week, but it is only temporary. So I'm going to look for another part-time job or remote job to help with my payments.

    I paid my car loan off, so at least that would be out of the way. Right now, I'm focusing on setting up these investments, hopefully they would help with passive income because the one thing that killed me over the past couple of years is not having multiple streams. That's definitely changing now, it's too dangerous.
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  • Young_Chitlin
    Young_Chitlin Members Posts: 23,852 ✭✭✭✭✭
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    traestar wrote: »
    I just started my Help Desk job last week, but it is only temporary. So I'm going to look for another part-time job or remote job to help with my payments.

    I paid my car loan off, so at least that would be out of the way. Right now, I'm focusing on setting up these investments, hopefully they would help with passive income because the one thing that killed me over the past couple of years is not having multiple streams. That's definitely changing now, it's too dangerous.

    Keep grinding hermano
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  • Young_Chitlin
    Young_Chitlin Members Posts: 23,852 ✭✭✭✭✭
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    1fblhg.png
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  • traestar
    traestar Members Posts: 6,030 ✭✭✭✭✭
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    Young_Chitlin wrote: »
    traestar wrote: »
    I just started my Help Desk job last week, but it is only temporary. So I'm going to look for another part-time job or remote job to help with my payments.

    I paid my car loan off, so at least that would be out of the way. Right now, I'm focusing on setting up these investments, hopefully they would help with passive income because the one thing that killed me over the past couple of years is not having multiple streams. That's definitely changing now, it's too dangerous.

    Keep grinding hermano

    Thanks all I can do now man, I have to keep going.
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  • Young_Chitlin
    Young_Chitlin Members Posts: 23,852 ✭✭✭✭✭
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    u5y8l6f4vij7.png
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  • traestar
    traestar Members Posts: 6,030 ✭✭✭✭✭
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    I'm sorry I haven't been on social media in a while. My help desk job is ending soon and I'm now starting to move towards find my career job
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  • Bulletproof Wallets
    Bulletproof Wallets Members Posts: 1,405 ✭✭✭✭✭
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    $2600 remaining on Student Loans. I was at $5800 in May. After this last $2600 is paid off and another 5k is saved, I plan to start investing.
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