Debt Update

2014 will definitely go down as the year that Andy and made serious effort towards paying off our student loans. We cut back on expenses and sent some large checks over to Sallie Mae/Department of Education. And it has paid off.

At the current rate, Andy’s student loan will be paid off in a year. Once his loan is paid off, we will take that monthly payment and apply it to my student loan. This means my loan will be paid off before the 21.5 months I estimated.

We need to purchase a more reliable car. I do not want to spend additional money on a car but given the age and condition of both of our cars, we need something that is reliable. I have half the amount we will spend saved up.The other half we will finance through our credit union which will help build Andy’s credit. Plus we will get a pretty good rate.

We are also looking at going to India next year. We have enough frequent flier miles for 2 international round trip tickets (plus enough miles for a couple of nights in a hotel). I have saved a small of money for that trip and we have a year to save the rest.

Using some careful budgeting, we will be able to do all the things we want to do.


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