Saturday, September 29, 2007

The End Is In Sight

After a very long journey of about 7 years, I will soon be paying off
my second student loan. This loan is a private loan which
unfortunately did not have any tax-deductible interest so it was in my
plan to move this to a zero-percent credit card. I've done that and it
has made a huge difference.

Making progress wasn't super easy, but I took most of my extra income
and tried to put it toward this debt. For me, one of the biggest
benefits to paying off this bill would be the increased monthly cash
flow. Now it looks like there will be fewer than 6 payments left,
depending on how much I can pay toward it each month, since there is a
balance of 1290 dollars left.

The amazing thing about paying off debt for me is the feeling. The
debt actually feels like a weight. And as it is paid off, I feel more
and more confident and in control. I think that this just comes from
knowing that as time goes by, more and more of my money is actually
mine and not going to other people.

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