Slowly. But. Surely. [$129,154]

Follow my journey out of six figure student loan debt. Here, in my third student loan update I share the good, the bad, and the ugly truths about getting out of debt. Click to read. Staying motivated while getting out of massive debt can be a challenge.

There are three things that can always get me pumped about paying off my student loans and increasing my net-worth. In no particular order they are:

(1) Reading about how other people have been able to get out of debt on blogs like studentloanhero.com,

(2) Listening to the Dave Ramsey Podcast (particularly the debt-free screams), and

(3) Listening to a motivating song about money by one of my favorite rappers.

Whenever I do any of those three things I get fired up all over again about paying off my student loans.

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Student Loan Update

The last couple of months I have not been able to make much progress due to spending more money than usual.

I had back to school shopping for my teenager, and I also won a scholarship to attend FinCon 2017 in Dallas, Texas so I had to pay the associated travel expenses. All of that set me back about $2,000.

I should make a little more progress the next student loan update. Anyhow, here are the numbers for this round:

Student Loan 1: $9,000.00 @ 0%

Student Loan 2: $49,742.00 @ 5.875%

Student Loan 3: $70,412.00 @ 5.875%

Total Student Loan Debt: $129,154.00

Last Student Loan Update $130,053.70

Difference: -$899.70

My Thoughts

Two months have passed since my last student loan update and I’ve paid off under $1,000.  Honestly, I am disappointed in my progress. I feel like I haven’t hit my stride yet but I know it is just around the corner.

In my last student loan update I talked about some of the ways I’m trying to speed up the repayment process (i.e. refinancing a portion of my loan with a 0% interest credit card).

While I will continue to take advantage of zero percent offers when they come my way, I must also focus on increasing my income if I really want to make a sizable dent in my student loan balance.  As such, I have been applying for part-time jobs to bring in more money.

I have been debating finding another job for over a year now because I already work 10-11 hour days in my current full-time job as is and I am a single mom.

At the end of the day, I want my son to feel like he has ample love and attention and like he is my number one priority. On the other hand, I don’t want my student loans to be hanging around long after he is gone!

So to compromise, I have decided that I will apply for part-time jobs but only jobs that I can do from home so I can work while my son is asleep and be present whenever he needs me.

I will keep you posted on any side jobs I am able to get. I will also continue to write books and work on my self-publishing side hustle.

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Where are you on your personal finance journey? How do you stay motivated?

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