I’m debt free once again after finishing paying off my last loan. It feels really good to know that I paid it off in full and I can focus on saving.
(If you are not reading this post at www.howisavemoney.net or in your feed reader, it may have been stolen from my site.)
I had a loan that was used for education during the million years of completing my post grad degree.
The loan was scheduled to end some time this year but I was able to increase the payments last year. This increased payoff schedule was due to finally settling into my job.
Now that I have fully paid off the loan it frees up $300 in my monthly budget. The original payoff amount was less than that…but by increasing to $300 I was able to make the last payment in December 2019.
I do have goals that the $300 is going towards so for now it will just be transferred to a separate savings account.