Paying Responsibly

I was fortunate enough to get a scholarship that covered tuition and fees and even gave me a monthly stipend. It also sent me on some summer activities where I got paid as well. Unfortunately, the scholarship did not cover everything (like a place to sleep and food to eat), so I had to take out some student loans. All in all, it totaled up to about $8000. And I was really looking forward to paying it back after I graduated. Not just because there was a financial burden lurking on my credit score, but because it meant that I had a job! I had the ability to take responsibility and give the bank back its money.

It is a pleasure to see the money dwindle down to zero. I am not quite sure why other than it means I can pay it back. It's almost like I'm tricking Sallie Mae. For instance, they are only asking me to pay about $20/month and yet, I've already paid off the biggest loan I had that also had the highest interest. That probably cut my 10 years repayment schedule down to 3 years or so, or it just means much lower repayment each month. Granted, I don't have a job yet and all that money was left over from the money I earned during my last semester (it pays to be a wife, ironically). I did not have to spend as much of my own money during my last semester, therefore saving that money I would have used and using it to pay back the loans.

I have used almost all the leftover money to repay the loans and I have applied for a couple jobs. I am keeping my fingers crossed that I get one soon so I can finish paying the loans off faster. And then whatever money I earn goes towards building up savings and investing my money into a high yield return. I don't like spending money and will typically have a very frustrating and unproductive shopping trip when I walk into a store. I don't really like shopping with other people, but other times it can help me make a decision when I need to get something. If I'm just browsing, I'll probably drop everything and leave the store or talk myself out of what is in my hands because I can make do with what I already have.

I don't think that's a bad thing at all. There are some people I know who can't wait to go shopping with their paycheck and then they complain about not having money to spend on themselves. Yes, well, that's because they are playing the game wrong. The idea is to not spend frivolously as soon as you get the money. It's to get the money and then wait until everyone else is broke to go shopping so it looks like you're rich. And when everyone else isn't shopping or spending, you're less likely to spend and shop.

(I just made that up, but it sounds good so I'll keep it.)

I can say honestly that I am looking forward to a paycheck again. Additionally, I am looking forward to most of that money going into savings.