$ Let’s Talk Money – Part 5: Food for Thought & an Update

click here to catch up on the rest of the series


what we have left to payoff

Well we did it!

Mr.C & I have finally dipped below the $30K mark for his student loans and only owe $29000 now. Hurray!

We still have a way to go but, man, are we excited to be down in the 20s. After starting at $43K+ back in Oct. 2011 it’s a very happy place to be.

We hope to keep up the pace of shoveling $2K a month into the loans which would put our payoff date around Oct/Nov 2014.

So that’s just a little update on how we’re doing!

Sorry I haven’t added to this Money series in a while but there isn’t much excitement to share as we chug along month after month.

Also, I will mention that we are still using and loving the Mint.com app on our phones (you can use it on your computer in a regular internet browser too). Mint keeps all your financial info/loans/accounts in one place (it’s got bank style security so no worries) with cool spending tracking, account reminders, budgeting tools, etc. And did I mention it’s free?! Yeah… you should probably start using it ASAP.

Picture 14

And finally – below are links to a few articles I’ve read lately. Just interesting financial food for thought items:

Starting Over From Scratch

If you could roll back the clock to after high school / college graduation and change the way you handled debt, your first job, etc… what would your financials look right now? Plus – the smart “Masking Tape” trick.

Most in U.S. Have Enough to Get by, but Many Lack Cushion

Interesting results from a study that shows few Americans have more than enough to do what they want

10 Ways to Secure Your Kids Against Debt

Simple ways to help protect your kids’ future finances

My 4 Favorite Pieces of Financial Advice

Timeless, well-written advice from the great financial blog, BudgetsAreSexy.com

7 Considerations for Buying A Cheap Car

Great list to keep in mind if you’re out hunting for a new (used) ride

Rethinking The Costs Of Child Care – And Considering Some Major Choices

One family’s thought process on figuring out childcare with a toddler and new baby on the way.

Another Generation Rises: Looking Beyond the Millennials

Small clip from the article:

Re-Gens’ most pressing concern is the economy. The first members born into this generation entered their formative years (between ages 11 and 13) during the beginning of the Great Recession, which has given this group a desire to do more with less. In contrast to the millennials, the ReGens are a fiscally conservative group that’s more open to compromise, she says. “They’re unwilling to incur large amounts of debt,” Erickson adds. “They’re willing to defer gratification. They’re not a ‘buy now, pay later’ kind of group. They’re more willing to save up to buy something when they can afford it.”

Re-Gens are also much less likely to have a need for ownership. Erickson calls them a generation of renters, which is a characteristic stemming from their fiscal conservatism. For this generation, “Investments in homes don’t necessarily result in increased equity,” she says.


10 thoughts on “$ Let’s Talk Money – Part 5: Food for Thought & an Update

  1. Proud of you two for your initiative in meeting with a financial advisor and staying on track. Keep up the self-discipline and reap the rewards as you go forward saving, not paying off debts.

  2. as for the masking tape trick, mabye, but as a practical person I have 2 things to ponder: tape can wreck an object’s resale value and secondly, items that are not used yearly but are expensive to replace should be kept? But there was food for thought there. Having friends part seemed a little cynical too, but I get what he meant.

thanks for commenting!

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s