Thanks to the pf community for the ideas and for being good role models. I made a lump sum payment of $20,000.00 and my debt it nuked.
How I did it:
I built an emergency fund (4 months expenses)
I realized the unmilked cash cow that is my companies ESPP program. with a 15% discount on stock purchases locked for 2 years. I dumped 100% of my paycheck in the last 2 paychecks of the 6 month buy period and doubled my money thanks to lucky timing with the price being set very low. That gave me enough money to afford to put most of my pay into it for the next buy and the next one after that which ended up being a significant pay day. (The emergency fund changed my whole future.)
I had planned to pay off half of it today and half in 6 months after the next buy, but I realized I had reduced my spending so much and saved enough that I didnt even notice not getting paid for months at a time. So I just dipped slightly into the EF to do it all today. This should save me about 3,000 a year in payments and north of 7k in interest over the next 10 years.
Conclusion. I feel warm and fuzzy and confident I can do even better in the future! Next goal, early retirement!
Submitted February 07, 2017 at 01:48PM by famousfornow http://ift.tt/2lmVf3B
