I mentioned in this blog post last fall that we set a realistic, but stretching financial goal for paying off a large chunk of school debt.
Our goal: an extra $5,000 in 10 months put towards debt principle.
I am overjoyed to report that the 10 months is over and we've surpassed our goal! Slow and steady, we were able to put any extra money we could find towards our goal - Christmas cash and work bonuses included. The bulk of it was the money I earn from our church as the part-time secretary.
We made our goal even before received our tax refund and were able to put another $1,700 towards paying down debt.
AND all of that is on top of the "minimum monthly payments" that we kept making but did not count towards this goal.
It is empowering! It is a great feeling to know that we can do this.
Our long term goal remains to have our student loan debt paid off by the time my husband turns 40 in 2015. That's 2 years to work our plan and make it happen. The last 10 months have inspired us to sacrifice, to work like crazy and get rid of this once and for all!
Here's what motivates us towards that end! Oh, what a happy day that will be!