I’m facing a major debt repayment milestone!
In September 2003, I signed for my first student loan for University. I started paying it back on December 31, 2007. In September 2011, I signed up for my second student loan for a post-graduate diploma. I started paying it back in May 2012. The combined total of my student loans amounted to $38,418, minus a $5,998 grant, bringing my total down to $32,420.
As of April 1, 2013, I will owe less than $10,000, and at this rate, I might be debt free (or very close) by this time next year.
I’m currently creating a brutally honest post about my personal debt repayment story. I’m sure my tale is pretty vanilla compared to most. I’ve never owed more than $1,000 on my credit card, I wasn’t a shop-a-holic, I didn’t miss any phone or internet bills, I never had to sacrifice anything dramatic to repay my debt, I just had a loan I wasn’t prepared for. But soon, that loan will be history.
Check back later this week for the full story about my debt repayment, as I expose not only how much I’ve paid to date on principal, but also how much I’ve paid in dreaded interest.
BONUS – Did you know that $10,000 Zimbabwean dollars is equivalent to $28 Canadian? No? Well, now you do. My boyfriend has a bill that is worth about a TRILLION Zimbabwean dollars from before the currency basically collapsed. If you like Planet Money and the Economist or other such things, you may want to learn more about this bizarre suspended currency here.