Wednesday, June 22, 2011

Loan baloney

I've become pretty obsessive about paying down my student loans and I get so impatient waiting for pay day!  Thankfully, I get paid this Friday so I'll be able to make another big payment. 

I've just checked my balances and here's where I stand:
CIBC: $4,062.54
NSLSC #1: $6,145.52
NSLSC #2: $2,047.75

That's a total of $12,255.81, which is actually $10.81 more than I owed last week.  Damn you interest! 

Back when I didn't have much money and could only (barely) make my minimum payments, I knew I was paying interest but I didn't pay much attention to it, mainly because I couldn't afford to do anything about it.  But now that I'm making bigger payments and really making a dent in my loans, the extra interest I'm paying is really sucking.  There's not much I can do about all the extra interest I've paid thus far, but it really is helping motivate me to get it paid down more. 

I'm off next week and going to my mom's to spend some time with her, so I'm going to have to pay extra attention to my budget and make sure I don't overdo it; I really don't want to have to forgo putting extra money on my loan because I spend too much when I'm with my mom.  We'll be redecorating a bedroom in her house and she's letting me make all the decorating choices...but I said I'd foot the bill since she's letting me pick everything.  So I'll just have to make the right choices.

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