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Category: Paying Off Debt

A Strategy for Debt Fatigue

A Strategy for Debt Fatigue

Do you have a lot of debt, particularly large ones? Do you feel like you are making no progress? Did you start off strong on your debt and you have hit a wall? Are different strategies for paying off debt not working for you? If you answered yes to any of those questions then you might be suffering from debt fatigue. I know that I suffer from it. Let’s be honest paying off large amounts of debt is hard, particularly…

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2017 3rd Quarter Debt Repayment Update

2017 3rd Quarter Debt Repayment Update

The end of the 3rd quarter for 2017 has arrived and I guess it is time for another debt payment update. If you search debt payment updates you can find my previous discussions there. Here are my current totals at the end of the 3rd Quarter of 2017: 1) Mortgage: $171,025 168,780.16 166,320.16  162,762.77 161,020 $157,210 $155,120 $152,750$149,489 146,580 143,027 $139,885 2) Student Loan: $65,959.39  $65,188.58 64,427.07 63,657.24 63,392 62,903 $62,426  $61,910$61, 371 $60,800 $60,221 $59,617 3) Personal Loan: $27931.41  $25,401.80 $17,484.39 14,169.27 10,994 7,186 $0 4) Car Loan: $21,655 19,919 18,151 $16937 5) Credit Card 1: $3700 $1000 Total: $264,915.80 $259,113.61  $248,231.62  $240,589.28 $235,406 $227, 229 $217,546$210,860  $203,248 ($222,403) $216,439 This quarter I have paid off $5964….

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College Students You Need to Pay Attention to Your Finances

College Students You Need to Pay Attention to Your Finances

A meeting with a student today inspired this blog post. So I was meeting with this student who was wanting to add a 2nd major for her stay at my university. We got to talking and I asked her why did she want to have a 2nd major. She gave a pretty good reason. However, the more I looked and the more we discussed her future it was apparent that she didn’t need our major. In fact, she could graduate…

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Don’t Raid Your Retirement Accounts

Don’t Raid Your Retirement Accounts

Let’s be honest, we all run into a bad patch financially once in a while. We might lose our jobs, have extra expenses that we didn’t see coming, increased debt because of an illness or death in the family or sometimes we just plain overspend. In these situations, our immediate impulse is to get out of the jam as quickly as possible and if we don’t have the money saved in an emergency fund one of the impulses that people…

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Financial Goal by 50: Hit the Two Comma Club

Financial Goal by 50: Hit the Two Comma Club

I am sure all of you have heard about goal setting and how to reach your goals. I promise this post is not about that. There are all kinds of great advice about hitting your goals. That includes making them realistic, creating vision boards, starting with small things and working into larger items, etc. We all should try to have goals. I mean what is the point of life without having to live for some goal. And it doesn’t have…

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Public Service Loan Forgiveness Blues and Student Loan Face Punches

Public Service Loan Forgiveness Blues and Student Loan Face Punches

I have chronicled my student loan journey on this blog for the past couple of years. At first, I wasn’t in favor of doing Public Service Loan Forgiveness (see here, here). Then I finally saw the light and I enrolled. I even created a presentation about it for other folks that needed help (in other words I did a total 180). Mrs. ROB is also enrolled in PSLF even though she teaches part-time at multiple institutions. So our current problem…

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2nd Quarter 2017 Debt Repayment Update

2nd Quarter 2017 Debt Repayment Update

 Hey everyone! My apologies for being MIA for the past week or so, but I was presenting some research in the United Kingdom and just didn’t have time to post. However, my summer can start to get back to normal sort of. I have a lot of updates that I need to do on a variety of subjects, which I hope to do in the next couple of weeks, but one of those updates is how my debt payoffs are…

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Should I Invest in Real Estate?

Should I Invest in Real Estate?

*This post is updated from its original posting about six months ago. I have been thinking about buying real estate to add to my portfolio. I thought a multi-family home next door to us would come on the market as a foreclosure, but that isn’t going to happen. So I have been thinking about how else, if at all, do I get into real estate. So while this was a thought experiment 3 years ago I still think about it…

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Our House Is My Debt Piggybank

Our House Is My Debt Piggybank

I have written a number of posts about home ownership. Generally, I think owning a home is a good thing. However, there are a variety of costs that can make it more costly than renting depending on the situation. In fact, I have argued that if you can’t save or have trouble saving that you could view your home as “forced” savings. In other words, paying down the mortgage and the home value going up gives you the ability to…

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