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Hi Fishes, I recently joined Pwc AC and was informed to update my checkpoint portfolio where we update all our investments. If we have some investments and if we do not declare them, will it be a problem or can I update it as Nothing to report. Recently I joined here so I'm having some confusion regarding this.
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Additional payments. I’ll be done in a year
A few $100 wont make or break me. I need this debt out of my life.
I’m putting the money I was spending on my student loans to pay off other interest bearing consumer debt (car payment, credit card, etc.) I pretty much get all of my student loan interest back when I file my taxes so I’m paying off my debt that has no tax benefits and will accept that my student loans will be paid off six months later than anticipated.
There is no need to pay right now. Save your money for 6 mo when interest would pick up again. Then pay 6 mo worth if you want. It’s important to keep a safety net right now. No job or salary is secure.
So many people in Audit got laid off in 2008, and 2009 when fees flattened
I’m holding off until interest starts accruing again and I’ll pay it back the months I didn’t pay all at once. I’m seeing if congress passes anything where student loans are wiped out like the 10,000 they proposed. That’s how much I have left so seeing what happens.
Hmm okay didn’t catch that. Hopefully it’s blanketed to all upon further debates and revisions (if it ever gets passed)
I read on another post that people are putting money into high yield savings accounts and then paying off when interest starts accruing again. Thought about doing that, but then thought about the reality. How much interest will I really accrue in 3 months? $20? Not worth the wait in my opinion.
I’m putting the regular amount aside but not sending it in yet in case of emergency. Barring anything happening, I will send the full amount in before interest starts accruing again.
I've been making my regular payments so I can still get the $100 a month from PwC 👌
Yea it’s automatic, I didn’t make payments forever once I got may monthly below the $100
Waiting for our next president to forgive. It would be terrible to lay down a large chunk of principle and find out that it would’ve been wiped
Not sure, but even with forbearance, I think your credit score is better with regular payment history. My plan was to pay off within five years, which is this year ($33k down to $4K now), so still working toward that goal. Although, I have considered making token payments and banking the money instead, just in case.
Making double payments! I’m saving more money by not going on trips/buying clothes/gym memberships so I am really hell bent on knocking out $8000 of loans in 2020 😤😤
Yeah I’ve been making additional payments
I’ve been investing the amount I’ve saved on interest and continued making my normal payments. I’m producing higher yielding income and still paying down interest free debt. Win-Win
Why not take advantage of the down market and after the gains make a lump payment for the student loans?
Im still making payments to my loans, which is great to watch the principal go down faster. You will owe less money in the long run.... But I do have a question for the group - since I have 7 loans left (all with different interest rates), is it better to make the payment solely to the loan with the highest interest or to spread the payment to all my loans and decrease the principal down for as many as I can?
@pwc8 - that’s the avalanche method. Snowball is pay the smallest $ amount first
Go for the one with the highest interest rate
Yes! While my interest rate is low, I can't achieve financial independence until they're paid off so accelerating my payments as much as I possibly can. It's a bit easier since I can't spend money on daily coffees, eating out, hair care, nail appts, botox, and everything else I felt I had to spend $ on until this pandemic happened. Now the extra few hundred a month I used to spend on all of that I put towards my student loan.
I’ve been putting those payments towards my private loan. Cause that interest rate is higher.
I’ve been budgeting for the payment and moving to savings but not actually going to make the payments until interest starts accruing. Would really hate to lose my job and not be able to get that money back
Not 100% sure what’s going on with my wife’s job over the summer, so I’m saving my payments for now. If we don’t use the money by August, I’m making a bulk payment on my loans
It’s time to save money.
Changed the payments primarily to my car loan