“We are all in this together. We need each other. Oh, how we need each other.”

(Marjorie Pay Hinckley)


Long overdue honest social media.

"I think about our debt every day..."

One of my struggles is with the weight of our student loan debt.

My husband's goal was to become a physician. Mine was to stay home with our children. We supported these goals for each other, not waiting until the end of training to bring children into our home. Thankfully, because that training continued for 9 years after a bachelor's degree. We both worked as much as we felt was possible at the time--in hindsight both of us wish we'd worked more.
Now we are in payoff mode. In four years we've made significant headway (read: tens of thousands of dollars paid off), but the road is long (still 6 digits).

I think about our debt every day, and usually LOTS of times each day.
I think about my debt each time I use money.

From gas & groceries to piano lessons & furniture. 
Do I need this or just want it?
Is this purchase worth more than paying off the debt?
With our discretionary dollars, should we invest or pay off debt first?
Or none of those options and spend it on our kids--more clothing, lessons, phones, and fun family vacations?

My mind is full of statements like this:
"When our debt is paid off we can __________."

The interest isn't what drives me crazy--it's the principal. We are indentured servants to our student loan. . . and I can't wait to be done with it.

(OK, the interest drives me crazy, too. While every mom around me pays $200/month for pre-school, I pay more than that much for interest every month and keep my pre-schooler home with me).

One thing I have learned is that paying the minimum payment gets you NO WHERE! We did that for about six months and then I read our statements. I discovered the loan company was pretty happy if I didn't reduce my balance quickly. From that month until now, we've sent more principal each month than interest. We send an additional large chunk every few months, and each time I think to myself, "Was that the right thing to do? It's barely made a dent!"
I struggle to remember the positives:
We are paying it off!
It will take less than the 30 years our student loan company wants it to take.
We have everything we need, and many of our wants.
The best things in life don't cost $.
We have an emergency fund, roof over our head, and no car payment.

The bitter: Paying it off will take much longer than I thought.
The sweet: My husband's earning potential changed. He tripled his earning potential. 
We can & will pay it off.  
(Perhaps in the interim I will learn patience).