Paying Down Debt – August 2015

August is hard, friends.

That’s when school starts back up, and since everyone in our house is either a teacher or a student, August means we have to readjust to a life of packing lunches, lesson plans, homework, carpooling, grading, learning new names, and actually showering on a regular basis (I speak the truth, people).  All that sucks up a majority of our time, which doesn’t allow for much money-making to throw at our debt (or for me to blog, which is why it’s been awhile, sorry).

Our required minimum payment for the student loans is $400/month.  With what we budget, we typically pay down at least $1,000/month.  In the midst of going back to school, this month we were still able to pay off:

$2,541.  

You can check out our current balance here.

Not bad.  I will be honest, though.  Even though that is a lot, it’s hard to see those numbers compared to last month.  Those numbers are also not going to get us to our goal to be debt free by January 1, 2017.  That means we’re going to have to kill it going forward.

Here is what we did in August to pay down our debt:

  • I made a decent profit through my Bondbons business.
  • My husband put in many hours with his Promise Painting and Contracting Business.
  • I was paid for a few cake pop classes I taught at Sweet! in July.
  • We discovered an issue with our home security system and received a credit.
  • I was paid for working on a curriculum committee through my school district over the summer.
  • We budgeted earlier in the summer to visit my parents in Ohio.  We ended up spending way less than what we allotted, so the leftover money went toward the debt.

I also wanted to touch on our compound interest.  It’s the devil when it’s working against you. When we got serious about paying off our student loans nearly two years ago, we were paying $10.93 just in interest PER DAY.  Today, our daily interest is $6.61.  In two years that is a difference of:

$4.30 PER DAY

$129.60 PER MONTH

$1,576.80 PER YEAR

I delight in the fact that less and less of our hard-earned money is going toward interest and more and more is paying down that principal.

Stay tuned for our next update on October 1st.

Love,

Screenshot 2015-07-26 at 11.57.14 PM

The Unspoken Message from Your Teachers

teachingblog2

Dear Student,

It’s the first day of high school, and you’re probably a little nervous.  I have a secret for you: the first day makes me a little nervous, too.  It’s okay.  In fact, it’s natural to feel that way when you meet someone new—especially someone who is going to become a major part of your life.  In my case, I’m meeting approximately 150 new someones.

From this mid-August day until May, we’ll be seeing quite a bit of each other.  In fact, I’ll spend more time with you than I will my own children during the school week.

There will be days you will like me. We’ll play fun review games, I’ll provide treats, and let’s be honest—sometimes I’m pretty hilarious.  

There will be many days you don’t like me.

At all.

You won’t like me because I’m going to push you.  I’m going to make you write and rewrite an essay until it is cohesive and persuasive.  I’m going to hold you accountable for being tardy to my class.  I’m going to make you take notes until your hand cramps up.  I’m going to make you:

➔ read

               ➔ think

                               ➔ present

                                             ➔ synthesize.

I’m going to require you to expand your vocabulary and use intellectual words—so, no. You may not say f*** or sh** in my presence—you are better than that.

After a while, we will build rapport.  You might just begin to feel a newfound freedom to open up—and if we’re both lucky, I’ll be the one you talk to when you’re excited about your first job; when you’re upset with your mom; when you get your first boyfriend; when you’re heart’s been broken; when you’re being bullied; when you unexpectedly become pregnant; when you aced that ridiculous Algebra test; when you’re being abused.  

Sometimes, you will come in before class or during lunch because you have no friends—my classroom will be your safe haven.  Sometimes you’ll be in the musical or a football game—I will be in the audience.  Sometimes you won’t be able to afford the required school supplies—I will buy them for you with my own money.  Sometimes you won’t believe in yourself—but I will.  Sometimes you will struggle with the content—I will tutor you. Sometimes you will have a parent pass away—I will attend the funeral.

You will always view me as the teacher, but the truth is, I will learn just as much from you. You will teach me new slang, what’s fashionable, and how to use the latest technology. You will also teach me about your culture, your religion, your hobbies.  There will be days where you will have the most creative idea that it will completely change my perspective.

We meet today, but in the future I will attend your graduation and your wedding.  I will be the one who writes your college recommendation letters and gives a reference for your future job.  

Teaching is not for the weak. The stress is high—the pay is low.  Schools are understaffed, under-supplied, and most of the time I feel unappreciated.  There are days I will cry and want to quit, but I don’t.

I don’t because of you.  

You are the reason I teach and keep coming back.  

It’s certainly nice to make your acquaintance today.  

Sincerely,

Your Teacher