A potential SoFi refinance…

My car loan has a lower interest rate than my student loans.  Can we please talk about that?  What’s that about?  Seriously, what is. that. about?  I need to hop on SoFi, like yesterday.

This comment from a friend got me to thinking and I’m seriously debating whether I should refinance my loans.  Has anyone done it and/or used SoFi?  I love the lower interest rate, but I’m a bit worried about what happens should I lose my job.  Thoughts?

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My 2015 Budget: Overall Budget, Draft #2

2015 Estimated budgetFirst off, Happy New Years Eve!  Tonight, my boyfriend and I are celebrating with friends.  We’ll go to a nice dinner and then head to another restaurant to do a champagne toast at midnight.   I’m feeling pretty fancy, not gonna lie.  🙂

Earlier this year, I posted an estimate of my 2015 budget.  (I’ve reposted it over there to the left).  I expected to use roughly half of my income for my student loans payments, putting me at $50,000 for the year.

Well, I come with good news.  🙂  My boyfriend and I have decided to move in together, which means (1) we get to spend more time together and (2) instead of spending $33,000 per year on living expenses (rent + utilities), I’ll be spending a fraction of that.

We haven’t picked our apartment yet, but we’re thinking we would like to rent a 2 bed/2 bath apartment, at $3,000 in monthly rent and $500 in monthly utilities.  My half of that would come to $1750 per month, or $21,000 for the year.

Living together saves me $12,000 for the entire year.  Realistically, I won’t be able to put the entire balance towards loans, since we’ll have to pay for movers and decorating.  I’ll also want to just have some fun with my money since I’m trying to be more balanced.  But it’s very nice to have that kind of optionality!

How have your 2015 budget estimates changed?

2014 Loan Recap: I’m $163K in debt from law school

Happy Holidays!  I hope everyone has had a wonderful and relaxing holiday season.  I spent a few days at home with my family to celebrate Christmas, and I’m spending the week of New Years in my city to celebrate with my friends and boyfriend. Having such an extended break from work has been (and will continue to be) great since I expect January to really be busy. This break has also given me time to create a nice summary of my student loan repayment progress for 2014.

On December 2014, I made my second loan payment of December 2014 – $1,819.

December Payment #2 - $1,819

 

The majority of that payment went to my GradPLUS loan since it has the highest interest rate.  I paid the monthly minimum on my Stafford loan.  And with that payment….

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Mid-November 2014 budget check-in

12.29.14 Update – This post was an oopsie.  I didn’t mean to publish it and I only realized it when someone left me a comment.  Sorry folks!

[Intro] Hope everyone has a wonderful Thanksgiving next week.

First half of October 2014 – $375 budget, $89 under

November started out the same way so many months do – under budget.  I think I know what drives this, at least in part.  I finish a month’s budget, run the numbers, realize I’ve gone over.  I react by tightening my purse strings for the first two week of the following month.

Checking out my credit statement so far, I visited all my usual suspects – grocery stores, the occasional lunch place when I’m not able to pack mine, and Amazon

How’s your November budget tracking so far?

December 2014 Payment #1: $2,186

December Loan Payment #1Normally, I look forward to December because I just love the holidays!  But this year (and for the next few years), December will be special for me because I’ll hit my annual loan repayment goal.  Last week, I sent $2,186 off to the federal government.  $53 was for my Perkins loan and $2,133 was for my GradPLUS loan.  I had to skim $86 off the latter because I went over budget in November by that amount, and that’s just fine.

Life happens while you’re repaying loans. 🙂

For 2014, I’m at ~$38,180 in loans repaid.  When I get paid on Monday (Monday!!) I’ll make my very last loan payments of 2014 and hit my $40,000 goal.  I’m so super excited!  I’ll pay $465 to Stafford (interest only) and $1,354 to GradPLUS (interest and principal).  When I do that, I’ll also be sure to update the big graph over on My Debt so you guys can see my overall progress in 2014.

Happy Hump Day!

(12.29.14 update – If you’re looking for December 2014 Payment #2, check out this post!)

November 2014 Budget Roundup

Discretionary Spending – $750 budget, $86 over
November Budget - $86 over

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My new Starbucks addiction

Starbucks has sucked me in!I’ve never been one to drink coffee.  But at various times in my life, I’ve had no other choice because my schedule demanded I stay awake even after I was ready to crawl into my bed.  Such has been the case the last few weeks at work.  I’ve been so busy that I’ve been guzzling coffee to meet all sorts of deadlines.  Worse yet, my office has a Starbucks nearby and I’ve taken to using the Starbucks app to rack up points.

Things didn’t start off too bad.  I would request a tall Pike with a shot of vanilla.  Starbucks is overpriced, but hey, the Pike isn’t exactly going to break the bank.  But then I realized there was an app, and an easy reload feature, so with the click of a button, I could add another $15 to my card.  And another $15!  Because the money is already spent, I find myself going in more and more frequently because I know I won’t see individual charges for each visit on my card.  It almost seems like “free” money.

If that wasn’t bad enough, I’ve taken to drinking the fancy drinks!  I tried a Vanilla Latte and Caramel Macchiato.  The holidays (and those damn red cups!) have really sucked me into trying the Pumpkin Spice Latte, the Gingerbread Latte, and the Peppermint Mocha Latte.  All quite tasty mind you, but at $5 a pop, this habit isn’t one of my more financially prudent ones.  And I haven’t even STARTED to tell you how I’m starting to gain weight from all these sugary drinks!

Damn you, Starbucks!  Your app, your red cups, and your fancy drinks have done a number on me.  I’m not even gonna lie, you guys, I’m not going to stop visiting Starbucks.  I want some luxuries in life and the coffee does taste good!  But I may give myself a weekly limit on how much I’ll spend there because this could get out of control real quick.  Maybe $10 a week?  Maybe $15?  We shall see, haha.

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