Debt Update- December 2013
Time to revisit the Frugal Shrink's financial picture! I started my current job partway through 2013, and managed to make some headway in savings and debt repayment. I was underemployed in 2012 (but very happy!) so there was quite a lot that I needed to catch up on financially. My debts at this time are student loans and mortgage only. I do not carry a credit card balance and don't have a car loan.
Student Loans:
$5290 @ 2.35%
$38,998 @ 1.62%
$31,082 @ .1% (I love this number!)
I know that 75K is a lot of money to have outstanding for student loans, but with my crazy low interest rates they don't worry me like they used to. Also remember that I graduated with my doctorate and $146K in student loans in 2008.
Mortgage:
$102,998 @ 5%
I have a great little house that is ten years old and quite energy efficient. No major worries with the mortgage.
Savings:
I managed to sock away ~$2500 in savings and ~$4000 in retirement funds. I started with 6% savings for retirement (enough to get the match) and have since amped it up to 12%. I may drop this to 10% in 2014 or may keep it the same.
Goals for 2014 will be forthcoming in another post.
Student Loans:
$5290 @ 2.35%
$38,998 @ 1.62%
$31,082 @ .1% (I love this number!)
I know that 75K is a lot of money to have outstanding for student loans, but with my crazy low interest rates they don't worry me like they used to. Also remember that I graduated with my doctorate and $146K in student loans in 2008.
Mortgage:
$102,998 @ 5%
I have a great little house that is ten years old and quite energy efficient. No major worries with the mortgage.
Savings:
I managed to sock away ~$2500 in savings and ~$4000 in retirement funds. I started with 6% savings for retirement (enough to get the match) and have since amped it up to 12%. I may drop this to 10% in 2014 or may keep it the same.
Goals for 2014 will be forthcoming in another post.
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