State of my Debts: November Check in
How is it November already?
October was spent a lot closer to home (minus Sausage fest!) but it wasn’t quiet. Sure, there was plenty of time for reflection, but that was amid the parties, the wedding, and the dancing. I also got to hang out with my favorite little dog for about ten days. He left a lot of fur, and I realized that while I am not ready for a dog of my own to visit at lunch every day for over a decade, I was happy to have the company (and the responsibility!) while my friends were on vacation.
Financially, October hurt. I had to buy new tires (fun fact: tires are expensive and not that fun to buy!) and somehow, through a glitch in the system*, I overpaid my credit card bill. So I was left with hardly any money, and had completely wiped out my emergency fund.
Also, I started thinking about buying a house. So I didn’t make any additional payments to my student loan. This is fine, because I am prepaid for at least two years, and I will need any additional (ha!) money that comes in to go directly toward paying for a home. If I decide to do that. If not, I can resume rapid payback momentum after I rebuild my emergency fund.
Here are the charts, though, they don’t look very different than last month:
The slope of the line is flattening, right? The part of me that really wanted all of this gone as soon as possible is disappointed in my progress, but the other part of me is more rational.
I need more cash on hand than I have. Both of these debts are on pace to be paid off, so I don’t have to worry. Going farther into debt with a mortgage sounds really scary, but it’s mostly that my parents are being so dang generous that makes me the most nervous.
Kids, right? Even when they’re past 30 they’re a money pit. But I know that their kindness will be repaid, and if I do find something I want to buy, then they’ll gift me the down payment. Now, even though it’s legally a gift, I will absolutely pay them back in five years. Hopefully less. I guess the part that scares me the most is that the chart above? The way it looks now? Is the best it will look for the foreseeable future.
But that’s okay. I have to pay each month for housing anyway. So if I find the right something, then it makes sense. And when I get a roommate, my parents will be repaid more quickly. These graphs will never be the same. On the other hand, I’ll get to create more charts in Google Drive, which is clearly something that tickles my pickle.
Want to see the silly net worth chart again? Me too.