june 2012 update

Current situation:

I get paid twice a month (on the 15th and end of month). I’ll start throwing $550 at these loans after June 15th.

However, I might end up throwing a little bit more towards them this month. Our lease here in San Francisco ends on June 17th and our landlord is letting us pro-rate the price of rent for June instead of just charging us for one full month.

$2,350 a month / 30 days in June ≅ $78.33 per day
$78.33 * 17 days ≅ $1,332 pro-rated rent due for June

Since I usually pay $825 out of the $2,350/month for rent, I calculated that I personally owe $467 for June. I’m saving $358 this month on rent!

But wait! There’s more!

I also (potentially) have $825 coming in from the security deposit we put down last year – granted we don’t leave the apartment in a mess! Including the $358 savings from rent, I will hopefully have a $1,183 windfall for June! The balance on my non-direct loan is just under that amount – I could completely wipe out my non-direct loan and put a small dent in one of my direct loans! That would make this repayment schedule move along even faster! Student loan debt free by 2013 instead of 2015? Hellooooo New York!

However, the selfish (or is it reasonable?) part of me is telling me to use that money for the new furniture I need for my new house. What do you guys think – get rid of the non-direct loan or use the money for a new bed? (I do have a bed at the apartment that I could use for the mean time if I decide to wait for one). OR put more money into my savings account for my car that I want to buy in December??

Gotta think this one over. Let me know what you guys think. Until next time…

Comments are closed.