Doing It Yourself, Just for the Satisfaction
Over the past 9 months I have been focused on paying off my student loans. My goal is to pay off all of my student loan debt in 10 months, which amounts to finishing everything up by the end of April. As I am getting closer to the finish line I realized I was further away than I had anticipated. Instead of being next to the finish line in early April, I was really just making the turn down the race track of financial payments. As I realized the failure I have looked into every which way to increase the repayment, but in the end it amounts to just keeping my head down and taking a couple extra months to finish up the race. Then I thought back to what Kapitalust did with his student loan payment plan and thought maybe that is the answer, have someone lend a helping hand along the way. What I had to ask myself is would it be the same satisfaction?
A quick back story first. When I was paying off my credit cards a couple years ago, I realized that the math said to do a balance transfer, unfortunately the interest rate wasn’t really the big problem, I was. I needed to make more money and make bigger payments, not reduce my interest rate from 8.99% to 2.99%, it was a band-aid, a quick fix and in the end I didn’t like it, even if it did probably save me a few dollars. Towards the end of my credit card repayment I decided to ask the wife if I could borrow money from her savings to pay off my credit cards. We keep our finances together but still run individual accounts as we work together towards financial independence. She lent me the money and I paid off my credit cards for good, the problem was it didn’t feel that great. So I saved a few dollars in the long run and paid Mrs. Even Steven back interest free, it had no satisfaction, no jump up and down feeling that you get from making a big shot to win the game. Even when I paid her the last dollar back, it had no satisfaction, in some ways it almost felt like I cheated. What kind of satisfaction is that?
Fast forward to present day and I realized I was contemplating the same situation all over again. I could borrow from Mrs. Even Steven and save I don’t know $50 over the course of 2 months in interest or I could finish what I started, what I set out to do. Nobody would be helping me. I wouldn’t use a balance transfer, borrow money from someone, or use any other crutch to get to the finish line. I want this to be 100% me, I want the joy, the satisfaction of punching the student loan in the face for the last time, even if it is in June instead of April, and even if it costs me $50. I want the satisfaction of completing the race, strike that I want the satisfaction of winning the race.