Saturday, December 29, 2012

Upside

Since arriving in Tokyo at the end of October, I've eliminated 10% of my remaining student loan debt.  Ironic, given that Tokyo is a famously expensive city, but a COLA and free housing make all the difference.  Glad I was aggressive enough to give up my apartment at home and nearly all of my reoccurring expenses.  (iPhone, I miss you!)  Every.  Dollar.  (Yen?)  Counts.

Since graduation, I have paid the minimum payment on my student loans and car loan, maxed out my 401(k) contributions, made a modest contribution to savings, and funneled all remaining cash at month-end to another financial obligation which, happily, was met in full just before I took off for Tokyo.  It is a great feeling to direct my month-end cash to student loan repayment instead.

The relief I feel when paying off a loan in full makes me realize how much my student loans weigh on me on a day-to-day basis.  This from someone who had modest scholarships from both her grad programs, worked part-time every semester, and got lucky with a high-end salary after graduation!  It could be so much worse... I have been incredibly fortunate, but still find my student loans influencing even the smallest decisions in my day-to-day life.

The extra payments I'll be able to make while I'm here will take years off of my loan repayment.  Years.  That's one of the things I think about when I'm feeling homesick.

2 comments:

JD-Maybe said...

That is commendable! I haven't even started paying my ls debt yet. I am terrified.

felishdadish said...

Congrats! That's a great feeling to pay down debt.