All about the little wins to stay motivated….from $283k to under $100k.
Here is my question, for those who are aggressively paying their loans, what little wins keep you motivated?
I know it’s not a big deal until it’s paid off, but since interest started to accrue I have been aggressively paying off my student loans, including throwing $100k I saved during the pause. During the pause, my income went from $90k per year to over $300k. I realized that being on IBR was no longer a mathematically intelligent path for me, so it was time to get aggressive and pay it off.
With that amount, it’s difficult to stay motivated, as I’m a high income earner living like I’m a college student again. However, finally getting it under six figures feels like a massive win. I’m currently on SAVE and being as aggressive as possible until they kick me off to the standard plan in October. I’m trying to get my monthly payment as low as possible before I am required to start making payments again.
So what keeps you motivated?