The first extra payment {Financial Freedom}

Its tax season and this year we had no idea how to do our withholdings so we just kept them the same. With baby #2 arriving in September this of course caused an overpayment and we got a refund. We were able to make our first extra payment towards the student loan debit and it felt great!

We have many more extra payments to come, this one only covered 1/20th of what we owe them (yes I’m being vague on purpose.) However it felt great to start in such a big way, I can’t wait to see how fast we are able to knock this baby out.

Following the Dave Ramsey baby steps we are paying off our smallest debit first so we can get that ‘winning feeling.’ I think this might apply more if we had any smaller debits (i.e. $5,000 on a credit card) because you would get that satisfaction sooner. As it is our 2 debits are about equal. Never the less I can’t wait to see that balance go down…and not take 19 years as it was originally borrowed for.

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