Updation
I am here at work again and it is the last night before I get one of dem fancy 4 day breaks. The last one I got was the one where I was horribly sick, so this one I look forward to because it will give me a chance to clean up muh room and organize some various things strewn about. I am looking to get an apartment sometime soon but, due to contraints to my budget my time allotment of getting out of my house by February is not looking all that good. Due to some things beyond my control I will be unable to pay off all of my credit card debt until 4/20/2007. On that payday I will be completely free of all credit card obligation. Thusly I will be moving on to an apartment somewhere in downtown Richmond. That is of course unless I can convince a certain person to just move out with me in February.... ***COUGH***
That will be the only way I can afford to move out on my own just yet. Although I am looking into getting a mobile home with a nice little plot of land somewhere and living there for my first home. Not like the regular mobile homes though, this one looks fancy schmancy. I went inside and it has three bedrooms 2 baths a giant master bedroom suite with abundant walk-in closet space. It looked better than my home that I am in right now. Not to mention not having the drawback of having a sewage backup problem. In the end as opposed to getting some sort of ghetto home for about 50,000 I might end up setting myself up with a pre-fab home on some 5 acre plot of land for about 20,000 more and it would be cheaper in the area of a monthly payment than getting an apartment with comparable space.
When I do end up moving out to an apartment, I will be getting a two bedroom regardless of if someone ***COUGH*** is going with me or not. I will use the second bedroom as a workshop for all of my geekery needs. IE: MODS, Computer repair station, minor carpentry, et cetera.
Also, since the time has come around, I have student loans coming due and I have no choice but to pay them. I have around a 250.00 a month obligation to the student loan people. The real amount is 210 but I pay 250 because extra 40 a month off principal helps me pay less in interest and pay debt off faster. As it stands I am making the payments based on a 10 year repayment schedule being 120 payments of around 210.00 a month. By paying them 250.00 a month, I am able to reduce the number of payments given to them to 91 payments of 250.00 plus a final payment of 117.56. Giving them a total of $4,380.95 worth of interest over the 10 year span @ 6.8 % interest. If I were to go with their repayment schedule, I would have to make 120 payments of 210.00 paying out somewhere on the area of $6,531.26 worth of interest on the loan. Whenever I can spare the money, I will be sending in extra in an effort to try and pay these student loans off quickly. I want to reduce the amount of time that I am bogged down with these payments by as much as possible. I can do one of two things in this scenario:
1. Continue living at my parent's house paying as much as 1000 dollars a month for over a year more to get the balance of the loan paid off. Getting out of the student loans in just over a year's time.
2. Pay the minimum I have set for myself of 250.00 a month and live in an apartment. Getting out of the student loans in just over a 8 year time.
Suggestions?
Latah,
R-Tug
PS: If I were to go with the stay at home option, the time I would be able to move out would be : Friday 9/19/2008 as this would be the last time I would have to pay any loan payments. Otherwise it might not be until 2016 when I get these things paid in full. All of this was calculated given I have 11/hour at regular time 36 + 48 getting paid bi-weekly over the course of the time between now and that final date 9/19/2008. This is a best scenario deal. I highly doubt I will be able to pay it off by that time as things like my car breaking down and me having to get another one might affect the outcome of this calculation, not to mention regular life stuff like birthdays, Christmases, times out on the town, and just the cost of gas, food, and other expenses I will have to shoulder. I should hope that after my 6 month evaluation at work, I will be getting a raise and should increase the amount of money I can pull in a month. Not to mention the fact that I would have been working here for almost two years at the time of the loan being paid off. This is a good thing because this job is only guaranteed until 2011. We're on a 5 year contract. Also, I might have to get another job in order to help shoulder these debts I have more effectively. Time will tell what will happen to me but it is good I hear, to have a plan about such things so that one may more effectively eliminate that which causes him extreme discomfort. == ME owing people money. I DON'T LIKE THE FEELING.
That will be the only way I can afford to move out on my own just yet. Although I am looking into getting a mobile home with a nice little plot of land somewhere and living there for my first home. Not like the regular mobile homes though, this one looks fancy schmancy. I went inside and it has three bedrooms 2 baths a giant master bedroom suite with abundant walk-in closet space. It looked better than my home that I am in right now. Not to mention not having the drawback of having a sewage backup problem. In the end as opposed to getting some sort of ghetto home for about 50,000 I might end up setting myself up with a pre-fab home on some 5 acre plot of land for about 20,000 more and it would be cheaper in the area of a monthly payment than getting an apartment with comparable space.
When I do end up moving out to an apartment, I will be getting a two bedroom regardless of if someone ***COUGH*** is going with me or not. I will use the second bedroom as a workshop for all of my geekery needs. IE: MODS, Computer repair station, minor carpentry, et cetera.
Also, since the time has come around, I have student loans coming due and I have no choice but to pay them. I have around a 250.00 a month obligation to the student loan people. The real amount is 210 but I pay 250 because extra 40 a month off principal helps me pay less in interest and pay debt off faster. As it stands I am making the payments based on a 10 year repayment schedule being 120 payments of around 210.00 a month. By paying them 250.00 a month, I am able to reduce the number of payments given to them to 91 payments of 250.00 plus a final payment of 117.56. Giving them a total of $4,380.95 worth of interest over the 10 year span @ 6.8 % interest. If I were to go with their repayment schedule, I would have to make 120 payments of 210.00 paying out somewhere on the area of $6,531.26 worth of interest on the loan. Whenever I can spare the money, I will be sending in extra in an effort to try and pay these student loans off quickly. I want to reduce the amount of time that I am bogged down with these payments by as much as possible. I can do one of two things in this scenario:
1. Continue living at my parent's house paying as much as 1000 dollars a month for over a year more to get the balance of the loan paid off. Getting out of the student loans in just over a year's time.
2. Pay the minimum I have set for myself of 250.00 a month and live in an apartment. Getting out of the student loans in just over a 8 year time.
Suggestions?
Latah,
R-Tug
PS: If I were to go with the stay at home option, the time I would be able to move out would be : Friday 9/19/2008 as this would be the last time I would have to pay any loan payments. Otherwise it might not be until 2016 when I get these things paid in full. All of this was calculated given I have 11/hour at regular time 36 + 48 getting paid bi-weekly over the course of the time between now and that final date 9/19/2008. This is a best scenario deal. I highly doubt I will be able to pay it off by that time as things like my car breaking down and me having to get another one might affect the outcome of this calculation, not to mention regular life stuff like birthdays, Christmases, times out on the town, and just the cost of gas, food, and other expenses I will have to shoulder. I should hope that after my 6 month evaluation at work, I will be getting a raise and should increase the amount of money I can pull in a month. Not to mention the fact that I would have been working here for almost two years at the time of the loan being paid off. This is a good thing because this job is only guaranteed until 2011. We're on a 5 year contract. Also, I might have to get another job in order to help shoulder these debts I have more effectively. Time will tell what will happen to me but it is good I hear, to have a plan about such things so that one may more effectively eliminate that which causes him extreme discomfort. == ME owing people money. I DON'T LIKE THE FEELING.