If you read my 3rd blogiversary post, then there are likely no surprises here. But for the posterity…to the numbers!
July 1, 2019 – Student Loan Balance(s): -$128,663.26
July 1, 2022 – Student Loan Balance: -$69,998.37
August 1, 2022 – Student Loan Balance: -$67,197.82
Total Payments: $3,000.00
Net Difference: $2,800.55
Not bad. July was an eventful month that saw the end of my work with University B, at least temporarily, and my resignation and completion of my two weeks’ notice with Organization C. As I shared in my resignation post, I expected that at some point I would feel anxiety or regret about my rather abrupt departure but it just hasn’t happened. Throughout my last two weeks with Organization C, the choices and behavior of leadership continued to affirm my decision, and all I really felt yesterday, my first day of being unemployed, was relief.
Because I live on last month’s income, on August 1st I was able to sock away quite a bit of money into savings and have an otherwise normalish budget for the month. That won’t be the case in September as I will not have income from University B or Organization C in August. Organization C pays on the last day of the month for the current month, so my August 1st budget reflects all earned income from Organization C except my paid-time-off (PTO). While I could probably do some quick math and try to figure out what my PTO payout will be, the finance administrator for Organization C shared that she would be cutting a check for my PTO during the first week of August so I am content to wait and see. It’s my expectation that my PTO should cover a good portion of my bare-bones September budget, which necessitates that I earn $2,000.00 in income after taxes and that work in September for University B and gig work should pay for October and every month thereafter. It is my hope that I don’t have to dip into my emergency fund at all and that while I am underemployed, I can also maintain some of the additional savings for unexpected expenses.
While quite a few of you left kind words of support (and I am so grateful for you all), I know other readers are less impressed, perhaps even disappointed, with this choice given my financial history and how little I have in retirement savings. I get it. I do. But there is a lot going on, some of which I don’t plan to share just yet, so I hope you stick around.
Ms. Afro Penny 
Hi Penny! Keep your head up girlie 🤠. For some reason I just started wondering what your parents said when you told them or any coworkers? I am only here to provide positivity ’cause I feel like our thoughts will provide the other feelings. Once you have a new gig then you can return to your retirement needs, for now you know what to do. You have a budget and you know your bills. That right there is more than half of the population in the U.S and Canada 😂.
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I feel like all of your comments contain at least one reference to a Pac song. I can’t tell if it’s on purpose or not but I love it.
Parents…did not tell them. They would be demanding I move home to save money and generally just have a lot of anxiety about it. My dad just retired and they both seem super happy. No need to cause them anxiety which in turn would mean I’d have to manage their anxiety causing me anxiety lol. I called them on Monday because I had the time and both of them commented on how happy I sounded. Yea, apparently it comes across.
Colleagues…they were zero percent shocked. Like, they were surprised I actually did it but they all predictably understood the reasons. It’s not just me…
Yea…I’m actually excited to return to basics. A poorer AP was definitely a healthier and more creative AP. The riches of Organization C and University B paychecks definitely saw me let up on my budget and overindulge (food) in ways that just weren’t healthy for me. I expect this to get old soon lol
As always, thank you for your constant positivity and inspiration.
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“Parents…did not tell them.” – ahh! I so agree with this decision. When I got laid off a couple years ago, I did not tell my parents for the same reasons. They would just stress me out more (even with their good intentions!). I hope you’re not getting too stressed and I’m not sure if this has been said before, but I hope you’re taking some time to relax and enjoy your funemployment!
One thing I regretted was stressing too much instead of actually enjoying some of the time off while I had them.
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I have been heads down on my own job search so feel like a bad blog fan having not responded.
Just a quick note whike I selfishly ponder my own job leap and hope it isn’t a frying pan. I have twice left jobs under these circumstances and each time it was it was not only the best decision, but a positive life change like no other. Sometimes it can seem like you are leaping blindly, but in fact years of experience and confidence building are guiding you the right way.
You already know you can make it a year! And what might that space and time give you in terms of direction?
I say 👏👏👏👏👏
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Absolutely not! You are not allowed to feel bad…my comment was made in the most general tones for folks who might be like, “Has this chick lost touch with reality?” lol
CONGRATS on the job hunt and seriously pursuing the leap. It takes time to get to a place where you give yourself permission to leave.
You said all the things and more. There is a lot going on and hopefully, I’ll have more news to share in a couple of weeks…months… 🙂
Thank you so much for the kind words, Paula. As always, I am also interested in hearing your story or deliberations if you feel like sharing.
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Who are these less impressed and disappointed readers? I will fight them.
Okay I won’t fight them.
But come ON, when you search for “financially responsible” on Wikipedia, there’s basically a picture of you. As Blissfully said, you’re doing better than half of North America. I am zero percent concerned about you. You are doing great.
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LMFAO! That made my day. I soooooo appreciate you.
Folks are entitled to their perspectives…this is a blog and not a paper journal I keep at home. I think I just hope that folks will stick around and not abandon ship just yet if they’ve made it this far.
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Hi! Did you see the news? Are you included in this group? Will this help you?
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Nope…I refinanced last year in November with PenFed so I would not be included. It’s a bummer but…alas. I am excited for the folks who are going to get relief and I’m going to keep it moving. As always, thank you for your positive energy 🙂
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Never made the connection…also student loan forgiveness hadn’t really been a real thing. Yes bring happy for others 😊.
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Afro Penny! 👀
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I’m getting a bunch of message about the forgiveness too. Problem is Im’ in a public service program which capitalizes the whole time you are in it, so by now, that ten grand would be a drop in the hat.
I’m just waiting to find out that a job change that I just had to make disqualifies my previous 111/120 payments and my years of poverty were to no avail.
You ok up/over/down there Penny? I keep checking the blog to see how you are doing!
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Any news? That would be exceptionally cruel if those previous payments don’t count due to the job change. They can’t expect you to stay in the same role for 10 years…
Awe, thanks, I was doing okay. Just deep in the thick of figuring my life out…
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