Day 185 | $15,394.01 paid | $56,681.57 to freedom
Soccer season is over. A regional loss and suddenly my afternoons gain an extra two hours, even if it is only for so long. September and October as a high school teacher is an absolute beast. In the school world, it means getting to know new students, planning lessons (in my case, planning for two brand new courses), creating relationships with parents, parent teacher conferences, end of the first marking period, grading, and finally, near the end of October, a chance to breath.
For example, Soccer season ended on a 16-hour work day for me. To school at 7am, back from our regional loss at 11pm. This involved no planning, no grading. During the bittersweet ride home – I get some of my life back, but the season is over and a loss is a loss – I thought to myself: “I’ve hit the big mile-marker. I survived fall season. I’m going to crack open a beer and just relax.” I didn’t even open the fridge. I didn’t even make the first commercial of The Daily Show. On the couch, immediately asleep.
What does this have to do with loan pay-offs? Well, I have been given more meals (soccer and school) than I’ve bought/created in the last week. On that final soccer day, our awesome parents bought the team lunch (free Noodles and Co.!), after school sandwiches (free Jimmy Johns!), and post-game bagels (free bagels!). A staff meeting, another free breakfast. And it goes on and on. I’ve actually lost count, but it is certainly well above 25. We’ll low ball the estimate at 23.
I’ve also been totally anti-social thanks to end-of-marking period work. Last weekend I lived on my couch, with my computer in my lap. A little depressing, but every once in a while it’s fine to stay in, even if its forced… and my budget appreciates it! Onto the numbers!
The Brass Tax
- $1,000 paid
- Principal reduced by $703.20
- $197.34 until 2013 goal is reached!
- Approx. $300 in extra income (coaching)
I’m now budgeting $1,000 per month for my student loans, up from $850. I’ve been able to do this even before factoring in my extra income. Luckily, I’ve had no irregular expenses, though there are many coming. Fiscal October will be the last month where I can really keep the budget lean. After that, there’s a bachelor weekend, a wedding, a likely trip to the mechanic, a veternarian visit… and then Christmas shopping. Luckily, I’ve yet to dip into the coaching income; $600 (plus another $300 to come) that I hope covers all those additional expenses.
Assuming that my coaching income covers those expenses, I’ll be making two more $1000 payments in 2013. That’s about $1,400 in principal reduction, meaning I’ll obliterate my 2013 goal by over $1,200!!!
I am also hoping that come January, I can start the 2014 goal chasing by taking any (hopefully a lot) of the leftover extra income money from summer curriculum, summer umpiring and fall coaching and make a sizable one-time payment. Time will tell. My 2014 pay-down goal is $12,000. That’s $1,000 per month – in principal. My monthly interest has now dropped to just below $300. Still, I am not going to be able to swing $1,300 a month. Spread out over the year, that’s an extra $3,600 I need to find. Yikes! Next summer’s income will be the lion’s share of that extra money, but it’ll be tough to hit that mark. That’s why I’m going hard now. However much I go over my goal in 2013, I can take off that $3,600 for 2014. Now’s the time to get that done!
And part of that will be the Great Grocery Challenge! Part Two comes on Monday!
- Spending Report – September ’13: Back to School (teachingdowndebt.wordpress.com)
- Spending Report – August ’13: Pumped Up Kicks (teachingdowndebt.wordpress.com)
- Progress Report: September ’13 (teachingdowndebt.wordpress.com)
- The Great Grocery Challenge! (Pt. 1) (teachingdowndebt.wordpress.com)