One of my 2008 resolutions was to clean up some more debt, I was stupid in my younger days and didn't plan as well as I should have (for multiple reasons - no relation to the Reason family
) so I'm behind in where I want to be at age 29 going on 30...but I'll get there eventually. One thing I keep reminding myself of when I look at my debts is that nice 401K that I am growing at work...that's something I did right, so I'm proud of that. At least instead of looking at just my debt, I can rationalize away the bulk of my debt by deducting my 401K value (on paper) and then looking at that magic number of my actual red value. Yeah, I know if I cashed out my retirement plan now it would only be worth half of its paper value but I'm talking long term, so whatever. And quite frankly, for the last few years my 401K's performance has been turning double digit points in growth whereas my ridiculously large student loan is fixed in at 2.something % so really, where's the rush in paying off THAT debt early ? Fuck, I should just keep making the minimum $140 payment to Sallie Mae and let them soak me for interest while at the same time investing more from my paycheck into my retirement plan and growing that faster and at 6 times the interest, you know?
So I say fuck Sallie Mae, I'm not paying that off early. I'll concede to them their interest and make it back in 401K. Aside from that though, I have about another $10K (USD) that I want to pay off ASAP, so I'm trying to be more tight this year and I've even gone out and picked up a side job to help with some added cash.
I'm trying to think of a realistic goal of repayment on that 10K for '08...I'm thinking if I go into '09 with that number at 6 or even 7, that's pretty good. If I can have that 10K retired in the next 3 years I will be delighted. I'm going to come back to this thread over time for inspiration to keep plugging away and also maybe to bang out some more financial thoughts.
If I ever settle down (I actually planned on being engaged Xmas '08 but I got fucked over hardcore this summer so maybe there's a silver lining somewhere???) anyway if I ever settle down and God forbid I have a kid or kids, well I can see myself definitely being in a hole which does not make me happy. So, I'm gonna use the recent shakeup in my life and try to get my shit together as a single guy again.
Hell, at least I saved X thousand dollars buy not buying a Ring for Christmas, eh ?
Ah piss on it, I'm young with a long earning potential in my future, so whatever. Just gotta keep rollin'