Bringing forward debt free date...

hbl_2

This is me thinking outloud...

I've got $1170 odd saved, which is $540 or so towards the credit card in my sig and the rest is forward planning savings for things later in the year. Only I'm kind of impatient now to see my graduate loan go down, so I've decided to pull the money out at the beginning of Feb rather than March and pay off my credit card and dump the remainder on my graduate loan.

Then my Feb paycheck, I'm going to live lean for a month - put aside enough to meet my outgoings and $100 spending cash and then just throw the rest at my graduate loan. I've figured that I can bring my grad loan debt free date forward by as much as 6 months if I get rambo on it.

Thanks for listening, insert criticism below!

ms_london

Hiya HBL.

Know what its like to be impatient - I was always a month ahead of myself counting down my "debtfreeness".

I would say go for it, but dont leave yourself too short (perhaps hang onto half and throw half at the debt) incase anything unforeseen crops up.

I dont think it hurts to alternate between living lean for a month and then having slightly more to spend, or try and spend as little as physically possible for a week and throw any spare money at your debt etc.

Good luck xx