Wednesday 28 January 2009

Woo hoo! debt free!

Or at least my student loan's now finished.

I've just spoken to the Student Loan Company to find out my balance and my last payment was due on the 10th March. I thought sod it and paid the lot off this month.

That's an extra £130 a month from now on till I die!

Equivalant to £2600 pay rise once you take off income tax etc.

It's wierd but I feel strangly happy and extreamly relieved about it. I guess I have been paying it off over 5 years.

There's still a long way to go before i'm fully debt free but slowly but surely i'll get there. 3 / 4 years is my plan and it won't mean cutting back too much. The beauty of it is that the more I pay off the more I have next month to pay off some more. That's the thory though.

Then the next plan is to pay off the mortgage. 24 and a third years left of that!

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