Lookin’ on the bright side:
1) I have NO credit card debt (paid that off in full in January ’09)
2) I am able to put between $450-$500 into savings each month.
3) Recently reduced my monthly student loan payments from $710 to $596.
4) I am 24 years old and have a 401k with an active contribution/match by my employer
5) Currently have $6,000 in savings
6) Only need to add $2,000 more to savings for a $10,000 down payment on a new-ish car
7) I have my bachelor’s and master’s degrees; currently working on CPA (certified public accountant)
Dark clouds that loom over head:
1) Currently have $46,000 in student loan debt
2) No investments (besides 401k)
3) Want to save for a down payment on a house within the next couple of years
I have been stressed about financial decisions lately, but making this list has helped me realize that I really am in a fairly good situation financially. I guess I get overwhelmed at times with the large amount of student loan debt I have, but I am 24 with a master’s degree making ~$55,000 a year, so I can’t really complain.
I will be able to start throwin’ down a lot of money at that debt as soon as I take care of a few “necessities”. Also, when I think about the unexpected/large expenses I have had over the past year, they have all been related to my 1997 Jeep. I am currently saving for a new car (Hopefully a new car will be mine around October 2009! J) Although I will then have a car payment, I will not have to worry about large, unexpected, out-of-pocket expenses, and the payment should be very reasonable by putting $10,000 down.
Putting this on paper helps to put my mind more at ease.
