Well, I constructed my first (admittedly crude) spreadsheet to examine my financial future. It’s not looking stunningly bad, but it’s certainly not stunningly good. I do not anticipate an early retirement.
I should be out of credit card debt by the beginning of 2008, if I pay about $750/month, plus the minimums on other things. Adding that 750 to the minimum payment on my debt consoldation loan would rid me of my remaining commercial debt by the beginning of 2009. This is aggressive, but doable. The student loans will take longer, but really, at that interest rate, I’m not too worried.
I don’t really regret the course I’ve taken to be where I am. If I had anything to do over again, I’d have cut and run from computer science earlier. But I’ve met alot of fun people, and it’s been a foot in the door everywhere I’ve been, so maybe not even that. My inner accountant wails a bit, but he’s a quiet voice amid the hubub.
I would not give up on getting to know Ro, Simon,
Is the debt mainly due to travels?
A generous part is due to fancy eating. =)
Nice. Food is the main consumption category in my budget.
Don’t sweat the student loans until you can no longer deduct the interest you pay on them from your taxes.
Good point. I’m definitely not sweating them until the debt is paid down, and that’s a looong ways off. =)
way to go, ways to go…
I wish I’d been as forward thinking as you appear to be.
There are several cool spreadsheet aids online that can help you prioritize debt based on interest rates, minimum payments and such – you can cut your time to un-debtedness pretty fast that way. I did that my first few years here in DC – helped bunches.
Also, save for an emergency – pay yourself first – ’cause it sux to have to put an ER visit on the credit card.
Good luck, congrats on the matriculation and I hope we see you soon.
Re: way to go, ways to go…
Thanks. =)
I’m sure you’ll be seeing me sometime in early august. I have a full week training in DC to attend, typically it happens the 2nd week on the job and I start july 24th, so… =)