So I was bad and didn't post a progress report for this last week, and I thank
![[info]](http://l-stat.livejournal.com/img/userinfo.gif)
jeffhowell for kindly pointing that out. When I got the comment, I meant to post one, I really did, but it didn't happen.
In lieu of a report, I thought I'd give you all an actual life update, so you can at least know what's been distracting me. :)
A couple of weeks ago, long after taxes were over and done with, Greg and I started talking about money and bills and I sat down and double-checked our finances for the past two years, just to see what we're spending where. The ugly, not-so-much-of-a-surprise, was that $500.00 a month was going to student loans (one grad and one undergrad), which meant that we were breaking even every month, and that's with us watching our spending and no catastrophes popping up (like me needing $300.00 brake rotors, which doesn't include the pads and the labor). It kind of depressed us a bit, because it meant it'd be impossible to save for vacations, conventions, or God forbid, that future day we decide to have a kid. We both started researching ways we could save money, and this is what we came up with:
1) Refinancing our home, and borrowing MORE than what we owe and using the cash-out to pay off our car loans. This would mean freeing up $600.00 a month, AND if all goes well, we'll be paying LESS per month on our mortgage than we were before. Not a whole lot, mind you, but every little bit helps.
2) Consolidating student loans. This one's rather tricky, and it's going to get a very long and thorough examination once the whole refinancing thing is over and done with. To be frank, my undergrad loan has a fantastic rate of 3.125%, whereas my grad school loans (five in one bill) are 4.210% for two of them and--here's the kicker--6.8% for the other three. The 6.8% pisses me off, and I found out that even if I left the undergrad alone (why lump that in when it's got such a great rate), I could consolidate the five grad school loans for something around 5.1%. But the other kicker, and this is why I need to do some more research, is that by consolidating, I'm extending the loan to 20 years instead of the current 10 years, which means in the end, I'll be paying MORE to consolidate than if I'd just left the graduate loan alone to begin with.
My research will involve finding out if they'd be willing to consolidate the grad school loan at the same rate, but for ten years. Hee! Then I'd be saving money!
But in all reality, no matter what the interest rate, Greg and I want to knock these suckers out long before they're due, which means we're paying less in interest anyway. I'm already rounding my payments up ($200.00 and $300.00), so that helps, but by freeing up the cash for the car payments, I can devote my portion to one of the loans and really kick it in the nads.
For all my whining about writing, my lack of focus and my constant brain loops (which unfortunately haven't resolved themselves, but I did try WRITING last weekend, so yay!), the truth is, my brain as been very, very preoccupied with NUMBERS. I feel disgustingly like an adult right now, but on the other hand, if we ever do have a kid and it comes time for that kid to make a decision about college, well. I'm going to know my shit forwards and backwards. It's sad in a way, but I feel rather ambivalent about college education, even though I know it's important and I wouldn't be the person (or writer) I am today without it. That said, the amount of MONEY that's required is, well, staggering. I owe more for my graduate school program (two and a half years) than I do for my four-year undergrad program. Both took place in private colleges too. How sad is that?
At any rate: that is the state of life right now. I faxed the mortgage paperwork on Friday and the appraiser came today (cool guy: he and Greg started talking Jeeps!), so #1 is firmly in place and with any luck, all will work out well. I'll then explore the options in #2, but like I said, with Greg and I planning on paying that sucker off early ANYWAY, the interest rate, while painful to look at, may not be such a big deal.
But however we allocate the extra money (Greg's got a project car now, via my mother), I'll looking forward to that little extra padding in the bank. Especially now since the possibility of a newer, faster computer has been dangled in front of me, and like a cat, I can't leave it alone without swinging like crazy to catch it. :)
sore
accomplished
chipper
cheerful
cold
awake