7 Replies to “Why I Put $9 Into My Savings Account”

  1. Love it! One of my plans for paying off student debt (starting this month) is to throw 100% of my “extra” earnings each month at the loans, in addition to a predetermined monthly payment, which will probably be $1000. So if I find $5 on the ground and make $40 in a research study during February, my loan payment that month will be $1045. At least, that’s my plan right now. 😉

    1. Great plan! That’s exactly what I did. I sold books, clothes, I cut ruthlessly everywhere and it all went to my debt. I also recommend making more than one payment a month. Don’t let money just sit in your checking account- put it towards debt right away! I used to make 5 payments a month regularly.

      1. Wow, 5 payments! I really need to look into that whole situation of how to make extra payments on the principal and not the interest…if you have any advice, I’d be interested to hear it. Either way, I have a lot of web research I need to do!

        1. We’re dealing with this right now with our mortgage servicer, which has to be the worst one in the world. We make lots of extra payments, and they *always* take interest out of it, even after we click “principle payment.” So we have to watch them like hawks, and always end up having to call to fix their mistakes, which gets exhausting. So, in our case, rather than make frequent extra payments, we pool funds and then make like an extra quarterly payment. BUT, if you get a student loan servicer who actually has their act together and can handle a simple thing like an extra principle payment, then I totally agree with making frequent payments. It feels SO good to see those numbers notch down!

          And Kara — It is lame to say I’m proud of you for spending $11 of that $20 you found? 😉 I know that must have been tough, but I’m glad you spent some of it on quality time with people whose company you enjoy!

          1. Hahaha, it’s not lame! I felt good about it too. Bummer about your mortgage lender! As much as my loans sucked in other ways, it was super easy to make payments and they wrapped everything up well too. That made crushing them much, much easier.

  2. I think that’s awesome. I’m trying to learn the value of small wins myself right now; I’ve always been a big picture person but somehow never really “got” how the little things add up to make the big picture, you know? $9 saved is $9 saved, no matter what.

    1. I’ve found the mantra ‘small things become big things’ to be so helpful. Sometimes you can’t make the big moves you want, but you can take small steps in that direction!

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