Well, this is awkward. We just made a decision that is going to change our financial plan forever.
We feel like such hypocrites. For 6 years we’ve been slogging away at our student loans, throwing as much money at them as we can each month in order to become debt free. We’ve championed the virtues of frugal living to our friends and family, and in July 2016 we even started this blog to bring our views to the masses.
Our plan had been to live frugally, keep expenses small, keep loan payments big, and get out of the student loan vortex ASAP.
Did we just ruin it all?
Having a child changes your perspective on things, as every parent knows. Recently, I’ve been thinking more about the advice I’ll give once my kid starts talking about what they want to be when they grow up.
A common response I hear whenever this question is posed (by someone of any age), is “Do what you love.” In a perfect world, that is absolutely the best answer. It’s the answer I’ll give when my child is young and lives life with no preconceived notions of what’s possible.
The reality is, as idyllic as it may be, doing what you love isn’t always the prudent decision. When you’ve got bills to pay and loans to honor, the first thing you need is a paycheck. Maybe that sounds harsh, but it really shouldn’t. It’s just the fact of the matter.
Most things in life worth doing involve periods of excitement, fulfillment, and happiness, punctuated by moments of terror and self-doubt. Paying off a ginormous loan is no different.
I’m totally guessing here, but I would say that about 90% of the time, we are perfectly happy and content with our student loan repayment plan. We see the forest for the trees, so-to-speak, and always try to focus on how we assume we’ll feel at this end of this journey. Even when we get frustrated from time-to-time about how strict we have to be with ourselves when it comes to spending money, we usually can still keep our eyes on the prize and focus on a debt-free future.
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.
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.