Debt at start of blog (July 2008): $51,497.33
Debt at end of August 2009: $18,238.09
Difference: $33,259.24
Current Breakdown:
Car loan (at 5.75%): $0.00
Grad School Loan (at 6.55%): $3,708.04
Undergrad Loan (at 2.125%): $14,530.05
I wasn’t able to make any additional payments to my loans this month. This is mainly because of a mix up with my 401k contributions that started in July. When I filled out the paperwork, I thought I had signed up to have $500 taken out each MONTH for my 401k; however, it appears I misread the paperwork, because they’ve been taking $500 out of each PAYCHECK– causing me to contribute $1000 a month to my 401k instead. Since an extra $500 was definitely NOT in my budget for July and August, this has had a bit of an impact. I updated my paperwork this week, and am hopeful that the correct amount will bet taken out in September. On the upside, at least my retirement got an unexpected boost this year due to my extra contributions.
