Success is a Journey, Not a Destination: $58,661.20 Paid, $26,646.87 Till Pay Off

Hi everyone! Thank you for the continued support along my debt repayment journey. Below is my student loan balance update.

I have now paid off 68% of my student loans. With my student loans now at $26,646.87, I struggle with a lot of what ifs. What if I attended a cheaper school? What if I didn’t have student loans? What if the $58,661.20 paid toward my debt’s principal was money added into retirement accounts?

I snap out of the “Woe is me” and remember…
1 Timothy 6:6-10 (NIV) reads, “But godliness with contentment is great gain. For we brought nothing into the world, and we can take nothing out of it. But if we have food and clothing, we will be content with that. Those who want to get rich fall into temptation and a trap and into many foolish and harmful desires that plunge people into ruin and destruction. For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs”.

This scripture is not saying we should have nothing else beyond food and clothing. Nor is this scripture condemning ambition and the desire to earn wealth. This passage warns us against greed and the misuse of wealth.

Money should not be our final goal. We should aspire to know the Lord more; because he gives us the ability to enjoy what He blessed us with. Have you ever logged into your social media account and became envious of a friend’s latest vacation, celebratory post of a purchased house, or new job/promotion?

Comparing ourselves to others and living with regret is dangerous. There are times we will make lane changes and reverse to parallel park. However, staying fixated on other cars and not the road ahead of us will cause crashes-resulting in property loss or death.

Regardless of what our peers earn annually and possessions they enjoy, we must remember “Whatever you do, work heartily, as for the Lord and not for men”-Colossians 3:23 (NIV).

I will soon release a video entitled, “Most Affordable Texas Colleges-Legit Schools Costing Under 20k Per Year”. The video will be available through the No Debt But Love YouTube channel. Please subscribe to the channel, like, and share the videos; your support is much appreciated.

The Sacrifice of a Father: $37,197.54 Paid, $48,110.53 Till Pay Off

Why So Happy?
Waking up Monday mornings is always a drudgery for our house. But this Monday morning, as I groggily walked to the restroom to wash my face, my wife wore a beaming smile and greeted me cheerily. Her greeting was contrastingly returned with a slowly motioned wave and mummified growl, “Morning.”

Baby PicDespite my groggy state, I couldn’t help but be suspicious about her extra energy boost. While reaching for a washcloth, in the corner of my eye, was a pregnancy test leaning against the wall. I tried to delete the image of the pregnancy test to shield myself from fear and pain.

My wife and I have been married for 5 years and were coming to terms with the possibility of never being able to conceive. I assumed the pregnancy test would read negative, but out of hope, I took a peek at it anyway.

To my amazement and disbelief the test read positive. Then I thought, wait, this is an April Fools’ joke, why would she do something so mean? But this was in November, April was 5 months away. Then my attention was drawn to sticky notes my wife placed above the pregnancy test where she wrote, “We prayed and God answered.”

Still half-conscious, it clicked.
“Wait… we’re pregnant?!”
Almost instantly, the sleep fell from my eyes.
She grabbed my hands and excitedly screamed, “Yes, we’re pregnant!”
I can’t explain the joy in knowing that my little girl will be here in August; I feel alive again!

Sacrifices of Parenthood
Once the initial elation surrounding my little girl’s arrival wore off, the reality of newfound responsibilities rose to the surface. We will lose sleep, time, and maybe even some friends. And of course, as we all know, raising a child can come with a considerable price tag. Half of me is joyful in anticipation of my child’s arrival, and the other half is anxious. I still have student loan debt to repay and sometimes wonder if waiting longer before starting a family was the better option.
But I am proud to have the opportunity and privilege to raise a child.
Fatherhood is the best gift imaginable, especially since for us, the seemingly impossible became possible. Two little eyes will be looking to me with love every day from this point on, and a little mouth will call me “dada”. Why would I not want the gift I have been given after being blessed with it?

With that in mind, I now prioritize savings over debt reduction in anticipation of the costs of raising a child as well as any birthing complications. Although I want to get rid of student loan debt faster, it would be a pity not to provide for my family first.

New Debt Payment Plan
My student loan accounts are paid bi-weekly, totaling initially $425.51 every two weeks as shown below. I have since reduced the amounts made on the debt to an updated amount of $248.76.

Bi-Weekly Payments2

The principal paid bi-weekly has decreased from approximately $304.99 to $137.31, due to reduction in repayment. It’s a little disheartening to see my momentum slow a bit; but one thing’s for sure, my debt is decreasing.

Bi-Weekly Principal Payment 2

What matters most is my beautiful wife and daughter are healthy and strong.
For all the parents out there, how have you tackled the financial responsibilities of student loan debt and parenthood?

Until next time folks, fight on.