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Archive for June, 2011

First payment

June 21st, 2011 at 01:44 pm

My first student loan payment posted today!

I was able to get through my pharmacy program with primarily only getting subsidized loans, however, the first semester of my first year we elected to take the unsubsidized ones too. To cover the tuition bills DH and I had been setting aside $350 a month, well after my last tuition payment in January, I continued to do this. So today I took all of that and made a payment of $1400.

I start my residency today which is good in several respects. First, I'm really excited for it and it will be a great experience. Second, I'll get a paycheck! Finally, huh? Smile I plan on putting nearly 2/3rds of my paycheck to student loans, and maybe more, but we've got some other saving we may do. Third, I can put my loans in deferment and extend the length of time my unsubsidized loans remain interest free. When I put my loans in deferment I'm going to ask if I get another grace period or if payment starts right after I finish my residency. Anyone know?

I plan on at least paying off the interest that has already accumulated and then the 8K in unsubsidized loans. Then I'll keep making the payment, but pay it to my savings account (earning 1%) until my subsidized loans start earning interest. Then, hopefully by then I can just pay it off in one fell swoop.

Kids and Money

June 5th, 2011 at 03:25 pm

So I just found a new financial blog which talks about military retirement among other things. Today's post is probably the best article I have ever read about teaching children about finances. He basically tells the story of what he and his wife did in raising their daughter who is now a freshman in college. What I liked best was that it describes what they did at various ages and different books/resources he used as inspiration.

DH and I don't have kids, but we hope to someday, and I just hope I can find this again when we do.

Here's the link if you want to check it out:
http://the-military-guide.com/2011/06/02/raising-a-money-sma...