Where’s. My. Momentum!? [$128,542]


Paying off student loan debt. Six figure student loan debt. Getting out of debt tips and motivation. Student loan debt payoff plan. Default is not an option. In order to stay motivated while paying off very large amounts of debt, you must rely heavily on momentum.

Momentum is that invisible force that gives you the energy to stay the course when you want to give up on your goals.

Selling off unused or unwanted items in the beginning of your debt repayment journey is a good way to create some momentum.

That’s what I did in the beginning.

Dave Ramsey recommends cleaning out your savings (with the exception of your $1,000 emergency fund) to build momentum.

I did that too.

I also educated myself by reading a get out of debt book, another get out of debt book, and even a third get out of debt book in order to prepare my debt management plan and increase my motivation to tackle my debt monster.

Yes, I have my plan but the motivation “high” wears off and then you need something else.

So, now what?

Well, the next chapter remains to be written. For now, I maintain faith that I will meet my goal of becoming 100% debt free by December 2022.

How is that going to happen?

Follow this blog to get updates on my student loan journey…and we will discover the answer to that question together.

Student Loan Update #4

I write my student loan updates here for you to follow every other month. I choose to do bi-monthly (instead of monthly) updates because my balances are so large right now that most of my money is going to interest.

Month to month there is not a big change in the balance so I figured a bi-monthly update would be a little less DEPRESSING at this point.

Last month I spent any “extra” income I had on traveling. I went to Dallas, Texas for FinCon, a personal finance conference. I won a scholarship which covered the cost of the conference but I still had other travel related expenses that I paid out of pocket.

So once again, the numbers ain’t pretty but here they are:

Student Loan 1: $8,500.00 @ 0%

Student Loan 2: $49,652.00 @ 5.875%

Student Loan 3: $70,390.00 @ 5.875%

Total Student Loan Debt: $128,542.00

Last Student Loan Update:  $129,154.00

Difference: -$612.00

My Honest Thoughts

A $612.00 difference??? Now, I know that I did not put any extra money towards my student loans over the last two months but I did pay my normal (automated) payments which totaled $1,400.

So what that tells us is nearly $800 of my hard earned money went to interest!

And that my friends is why debt is the DEVIL.

That is also why I MUST find some momentum.

Here’s what I’ve been trying:

1. Continue building side income with blogging, self-publishing and some other seasonal part-time work that I picked up.

2. Managing work and parenting related stress with yoga in order to keep a healthy mindset. Some yoga DVDs are HARD but I can keep up with my favorite Yoga DVA for relieving stress. It’s my #1 pick when I need to relieve stress fast!

3. Enjoying my other favorite stress relieving items.

Products Mentioned In This Post

Previous Student Loan Updates

Getting out of debt is hard work. Even when you’ve read all of the get-out-of-debt books. Even when you know the steps of getting out of debt like the back of your hand. Getting out of debt is still hard.

It takes perseverance and lots of MOMENTUM to stay motivated. Sometimes we have to create our own momentum. The journey IS worth it.

What strategies do you use to build momentum to reach your goals?