Operation: Birthday Freedom

I initially wrote this to publish in early October. Then I lost my mind.  See here. Then I had 2 amazing debt repayment months in a row. See October and November. I’ve decided to reignite this post because it is what I want more than anything. I will have to hustle to get there, but it’s possible. If I have to hustle, I want the PF world there with me cheering me on. Here goes. 

Since the beginning, my birthday has been one of the driving forces behind my debt repayment journey.

Initially, I wanted my loans paid off by my 30th birthday. Having student loans in my thirties was something I wanted to avoid. Paying them off while I could still remember law school was also important. My 30th birthday was almost 3.5 years from graduation and slightly less than 3 years from when I entered repayment. September 2016 was my big goal! This felt like an extreme plan at the time. I didn’t even run the numbers, I just had it in my heart that I would be out of student loan debt by 30.

When I entered repayment and started throwing cash at my loans, I realized I could shorten my goal. I ran the numbers and even wrote a post about it.  If I paid $1700 per month, I’d have everything paid off in March 2016. Coincidentally, March 2016 is my half birthday! (Yes, I’m one of those weirdos that celebrates half birthdays.) I’d be 29.5, taking a whole 6 months off my “extreme” plan.

As I executed my plan, I kept getting ahead of schedule. I would run the numbers when my monthly payments hit my account and December 2015 kept coming up. How cool. I’m on track to pay off my loans in exactly 2 years.

But what if I really went for it? What if Hubs and I hunkered down, got creative, started hustling and really went for it. How long would it take?

Could I pay off my student loans by my 29th birthday? before?

I want to find out.

As of November 30, I have 1 debt remaining.

Loan #1 20,376 $18,596

Loan #2 8,500 PAID OFF!

Loan #3 8,500 PAID OFF!

Loan #4 5,828 PAID OFF!

Loan #5 2,125 PAID OFF!

(and a car loan. You can read about him here).

To be free of student loans by my 29th birthday, I need to pay $1916/month. I can do this.

September 2015 or bust.

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7 comments

  1. I like it! I paid as much as $2500 some months, off a monthly take-home of $3855. It can be done. Focus, dedication, all that jazz. And you’ll be debt free a full seven years before I was — my 36th birthday is in January and I’m about to make my last debt payment this month 🙂

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