It’s two months into 2017 and I’m feeling a little discouraged. I was expecting a big tax refund this year, only to owe $500 + CPA fee. Unfortunately, when you make a significant jump in income, regardless of student loan interest payments and purchasing a home, you’re consequently taxed more. Duh. I should have known this and planned. This means that debt payoff will be slower than expected as $700ish will now be diverted to our awesome (italics means sarcasm on this blog) government.
This month we paid off $3,067.00 on my student loans and James’ car.
Here’s what we started out with: $50,896.71
Here’s what we’ve paid off since 1/4/16: $31,868.00
Here’s what we’ve got left to go: $19,028.71
Good news? We’re under $20k debt left to pay off. Bad news? It’s going to take me longer to get rid of my student loan thanks to tax season. womp womp. Even though it’ll take longer, I now only owe $5,000 on my student loans, which means it will take about 3 months to pay off. I can’t wait for that day, y’all.