Month: July 2017

Our Student Loan Payoff Strategy

In mid-2015, we were starting to feel pretty good about our financial situation.  We had been practicing in our respective health professions for about 4 years, our incomes had risen significantly, and we were beginning to see progress in our student loans being paid off.  Still, we didn’t have a real plan for what we were doing; we paid more as we got it, but there was no real rhyme or reason to the choices we were making.  We thought that needed to change.

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Keeping Our Perspective

We try hard to be as frugal as possible.

As I type this, I’m writing it on a brand-spanking-new Samsung Chromebook 3.  I bought it for $189.00 at Walmart a couple weeks ago.  I needed a replacement for my 2007 Macbook that takes 10 minutes to boot up these days, so I did some research on the cheapest and most effective Chromebooks.  The Samsung 3 kept coming up, so I threw caution to the wind and just decided to splurge on it.

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Putting It All Together: Our Progress, Part 4

If you’ve been with us since the start of this Our Progress series, you’ve seen where we began in terms of loans and income, as well as how our loan payments have looked in the past.  We went into some detail on the hows and whys when it came to income and repayment amounts changing.  Today we’re going to rehash the numbers and try to paint a clear picture of how everything has gone for us, but in fewer words.

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Debt Repayment: Our Progress, Part 3

If you missed Parts 1 and 2 of the Our Progress Series, catch up here and here. You’ve seen where we stood as far as income went the last 5 years or so. Thankfully, we have seen a steady increase in both our gross and take-home pays over the last several years, the reasons for which we went into in the last post.  

Today, we’re going to look at our student loan payments over that same time period.  One would hope that if our incomes were increasing, our student loan payments would increase as well.  I’m happy to report that aside from one exception, that was true for us.  

In my opinion, paying debt down is addicting.  I’m not kidding.  Maybe I’m a weirdo, but watching those loan numbers get smaller and smaller every month is a rush.

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Income Growth: Our Progress, Part 2

Welcome back!  If you’ve just stumbled upon the blog and haven’t read the first few posts, make sure you go back to the beginning and get yourself caught up to speed on how we got where we are in terms of our financial situation.  Also, definitely don’t miss Part 1 of the Our Progress series.  It won’t take you long to catch up, and should answer any questions you have up until now on why this site exists and who we are.  

If you’ve been following along, you know that when my wife and I graduated from our respective healthcare programs in 2011, we had accumulated $466,571 of student loan debt.  At the time, we weren’t too worried about the amount because we were going to be doctors and paying it off would happen in no-time.  

We couldn’t have been more wrong.

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Debt At Graduation: Our Progress, Part 1

Thanks for sticking with us! This post is going to be all about the debt we accrued by the time we graduated from our healthcare programs. First though, let’s recap what we’ve talked about in the first two posts (which you can find here and here):

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Doctor-Finance Blogs: How Many Do We Need?

How many personal finance blogs can survive out there in the interwebs? You can find anything you are looking for with a quick search of google, and personal finance has had somewhat of a renaissance lately. In fact, sites geared toward it seem to be a dime-a-dozen.

There are personal finance blogs about everything. Saving money, making money, making money on the side, investing, paying off debt, student loans… the list goes on and on.

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Got debt? You are not alone.

If you’re here, what I’m about to say probably won’t be a surprise:  Student loans are getting out-of-control.

Most likely, you’ve experienced this in your own life, which could explain how you found yourself on this blog.

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