Post-Bonus Post

Another quick update, because I’ve made my largest loan payment to date — $10,000!  I’m not positive if all $10k will go to principal, but the most that could potentially go to interest is less than $100 (since less than that accrues every month now!).  The puzzle will remain the same either way – 276 pieces.  Over halfway there!

$44,695– estimated remaining balance by original loan:

  • $2,625 $0 (freshman year – undergrad)
  • $8,500 $0 (1L subsidized loan)
  • $12,000 $3,695 (1L unsubsidized loan)
  • $8,500 (2L subsidized loan)
  • $12,000 (2L unsubsidized loan)
  • $8,500 (3L subsidized loan)
  • $12,000 (3L unsubsidized loan)
  • $3,500 $0 (Grad Plus Loan – bar fees and prep)
  • $1,200 $0 (Irresponsibility Loan #1)
  • $2,500 $0 (Irresponsibility Loan #2)
  • $1,200 $0 (Irresponsibility Loan #3)

I’m down to five of my original loans–and should get rid of the second 1L loan in the next two months, I’m thinking.  As promised, I put 6% of my bonus towards my 401(k) (and got an awesome profit sharing contribution), $750 towards my HSA, and booked tickets and a place to stay in California for five days this summer.  The only thing I have left to book for the trip is a rental car.  I also bought a sweet new blender, and I’ve been working on trying to mix up my smoothie game.  

I’ve already filed my taxes this year, and I should be getting a pretty good sized return–thanks little man! I’m hoping to put another $3,500 (minimum) towards my loans once that comes in.  I have not put any rent payments toward my loans – yet.  I have to transfer the money from our house account to the bank account that’s connected to my student loan, and that takes a few days.  But I’ll be putting another payment through as soon as that clears.


(I’m trying to make a border at this point, so that eventually I’ll just be filling in the middle–I realize that right now it just looks very unorganized)

2 thoughts on “Post-Bonus Post

  1. Woot! You’re killin’ it!

    A $10k bonus after taxes is some serious money. Was it easy or difficult to put the whole thing towards the debt. For me, it would probably seem easy at first, but right before I click the mouse I’d start thinking about all the things I could be doing with $10k in cash. But of course I’d click the mouse anyway because my debt MUST die. Clearly you feel the same about yours.

    Congrats on the promotion and raise! You’ll have this thing done in no time.

    • I did get to keep a little for myself, but none of the other thing I could have done with the money would have brought me as much satisfaction as seeing my debt figure under $50,000. I think because I’d been planning to put pretty much the whole thing towards my loan this year, I didn’t have too much of an opportunity to think about the other things I could have done with the money. I just have to tell myself that after next year’s bonus (fingers crossed that these continue to be paid) I’ll be able to actually spend windfalls on more fun things!

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