In January of 2016, I began to aggressively pay off my debt. I put $1000 a month towards my debt, first starting with my car. I paid off the last $4K of it in three months (I'm high school coach and I took that payment and it put it towards my last car payment).
Then in April, $1000 a month went towards my student debt, including all of my quarterly bonuses from work (which ranged from $1200-1500 per quarter). I lived as frugal as possible. A big part of that was my cheap $400/mo rent I had from June 2015 all the way to February 2017. (I live in Grand Rapids, MI).
This time a year ago, I had around $17K left in student loans ($24K to start back in August of 2014), and I bought that car for $9K and paid it off in 15 months. Now I have no more student loans!
Only debt I have is my new car, around $18K left. But, I have 0% APR on the life of the loan, paying $343 a month. So I'm not worried about paying that off anytime soon.
My dad died on February 28th, my 25th birthday. We had his memorial on March 17th, his 65th birthday. I just got paid my coaching money that morning, so I decided to take the whole entire thing (and then some) and pay off the last of my loans. About $3800 in one lump. The significance of the day meant a lot for me, and I know my dad would have been happy to see that.
Thanks to everyone in this sub for the great advice and support. I hope you all can become debt free soon!
Submitted March 22, 2017 at 05:24PM by naco228 http://ift.tt/2nKlJjN
