Snowball fight!

January 28, 2014

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Caitlin

Uncategorized

It’s -8 degrees in Cleveland today, but that’s not the snowball I am talking about.

Guess what I wrote today? Go on, guess!

Did you guess “this blog post”? You are correct! But I also wrote MY FINAL CHECK for my car loan. I am paying it off!

I missed my Christmas deadline by a month and a few days, but that’s okay, because I moved and Christmas required a little rearranging of funds. Plans don’t always go as planned. It is an incredible feeling to have written that last check.

And now, I can take my $277 car payment and add it to my snowball payment on the next biggest debt, which is a student loan in the amount of $7,110.67.

At my current rate (snowball around $1500 per month), it should be paid off in about four and a half months, or by the end of May. I think it’ll happen faster than that. I could get a raise at work, increased freelance income, or a really nice tax refund in the meantime. I do have some household things to save up for, too, so it might also take a little bit longer than four months. The really important thing is that I am back on track and paying off debt.

I know the Dave Ramsey way would be to just roll over to the next loan and pay it off as fast as possible, but I am a little tempted to have fun with my extra $277 in February. We shall see!

11 responses to “Snowball fight!”

Tessa H

January 28, 2014

Way to go! That is fantastic on your car payment!!!
And yes, of course you want to dream about how much fun you’d have with that $277 in Feb, so my advice is to go ahead and get all the joy you can from the scenarios in your head, and then roll that money right on over into your snowball and pay on your student loans. 🙂 They may seem impossibly large right now, but they are not, and you will eat them up one bite at a time. Do not give in to temptation, but keep plugging away and then you will truly be free to do whatever you want! You go, Girlfriend! You can do it!

Reply
1. living lagom
  
  January 28, 2014
  
  ^^^ What she said. (And congrats on the car loan!)
  
  Reply
  1. Caitlin
    
    January 28, 2014
    
    Thank you both!
Lois Field

January 29, 2014

Congratulations!! I remember how freeing it was to make the last payment on my car, which I no longer own but that’s beside the point. I’d be very tempted to have a bit of fun with the car money for one month and with a new home I’d probably make myself feel better by splitting it in two. Half spent on the loans and half on things needed for the house. Whatever you do in February you deserve to give yourself a good pat on the back for a job well done.

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1. Caitlin
  
  January 29, 2014
  
  Thanks Lois! Maybe I’ll use it on paint or new curtains or something practical but sliiiightly frivolous. Who knows? So exciting!
  
  Reply
needforless

January 30, 2014

So excited for you! I literally clapped for you when I read how quickly the student loan could be paid off. I wonder if my fellow employees think I’m a weirdo. Who cares! So exciting! There’s really nothing quite like that feeling of accomplishment from having paid off a daunting debt (or list of debts)! Keep up the good work! 🙂

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1. Caitlin
  
  January 30, 2014
  
  Thank you!
  I often find myself smiling, crying, or clapping about something I’ve just seen on the internet while I am taking a break at work. Sometimes people walk by. It’s like emotional roulette 😉 much fun!
  
  It felt SO GOOD to pay it off. I no longer have a car payment! It hasn’t quite sunk in yet.
  
  Reply
journeytominimalism

February 11, 2014

Yay! That’s so exciting about paying off your car loan! Congrats!!

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1. Caitlin
  
  February 13, 2014
  
  Thank you!! 🙂
  
  Reply
Kara M.

February 14, 2014

WOW! That is amazing! I have one more snowball debt I am working on, then I can pay off my car. Pretty excited to get that payment done! Great job!

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1. Caitlin
  
  February 14, 2014
  
  Thanks! Household repairs savings are being prioritized this month but then I’ll be back on track to snowball my next loan. 🙂
  
  Reply