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A Little Status Update

September 23rd, 2010 at 04:33 pm

I just wanted to update on our status. Currently we have $27,625 in defered subsidized student loan debt. $8,500 of that debt is DH's student loans and will be forgiven by the state over the next 5 years. The rest are my student looans due 6 months after I graduate. We currently have around $1500 set aside for this. It is on my savings plan.

I am currently putting around $650 away for a down payment and another $650 away to buy a car. October will be my first contribution to my Roth IRA at $416.67 per month. These comprise my savings budget.

Outside of the savings budget is more money. We have $50 a month going to my husbands 403(b) off budget. $200 of our Needs funds an Annual Bills account. We are adding a $200 item to Wants to boost our efund before we begin trying to conceive.

So there will be a lot of saving going on. I have figured that if we increase our savings by 2% a year from our base amount of $1680 per month, we should meet our current goals. Thankfully we are already beating our yearly goal for 2010.

2 Responses to “A Little Status Update”

  1. Jerry Says:
    1285366809

    What is the program that will lead the state to forgive your student loans? Is this only in certain professions, and if so, what are the options? I have heard about hospitals agreeing to pay off the student loans of health professionals, and I'm hoping to have some insurance that I can do that when I am done with school. It looks like you are really on top of your finances, nice going!
    Jerry

  2. snshijuptr Says:
    1285378209

    My husband is a teacher so he will use the APLE program with California. http://www.csac.ca.gov/doc.asp?id=111

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