Back on track

It’s been a while since I last posted about my summer financial challenge so I thought I would update you all. (If you can’t remember, my goal was to save $25.00 a week and pay off $100.00 a month towards my student loans.) I want to let you know that I ended up following through all the way to the end of August, saving a total of $425.00 this summer and paying off $300.00 of my student loans! I have to say that successfully following through with this savings challenge has made me feel very accomplished (and my savings account is definitely thanking me right now!).

If you remember, I did say that I was hoping to continue this challenge throughout the course of the school year as well. If I’m being completely honest, I definitely have not been following through with that.  Adjusting to the start of the semester and trying to find the balance between a busy class schedules, work, and homework has been challenging, and I lost sight of what my end goals were. The first of them being that I wanted to reduce the total amount of loans that I owe before graduation in May of 2016, and the second is that I wanted to build my savings account up to finance an apartment and have some extra money put aside for after graduation.

Now that we’re a few weeks into the semester, however, I finally feel like I have found the balance between school, work, and homework, and I’m ready to get back on track to reach my goals! Keeping true to my word, I’ve already deposited that $25.00 in to my savings account. I’m hoping that my inspiration to get back into the swing of things catches on, and that you all decide to set some financial goals for yourself this semester as well! Whether that is setting up and following a budget, making small payments on your loans, or putting some savings away, just remember that it is possible if you put your mind to it!

 

Stay motivated!

~Alexis

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