I got paid early this week, so obviously, that meant I had money for one more day than usual.


Unfortunately for me, I have student loans; all my extra money went to Navient.


WARNING: The two following paragraphs contains financial jargon. I have probably misused terms, forgive me. I didn’t take finance courses (obviously).


The ways student loans work is that they collect interest daily. I have had one at the beginning of the 2012-2013 school year, it started off as a $2,000 loan from the government. I didn’t make any payments until January 2017 because it’s hard to pay off loans while you’re working to pay for rent, gas, and food.  So for almost 5 years this loan, “Loan 03” collected interest daily (unsubsidized loans accrue interest while you’re in school) at a 6.8% yearly increase, all the while capitalizing interest. So, the interest added one day, becomes part of the principal amount for the next day. This is how creditors make their profit.

As of Thursday night, I have finally paid off this particular loan: $2,000 principle, and $1,507 in interest!


I was so happy Friday morning. I felt super accomplished, nothing could go wrong.


And then my phone broke, my car needed an oil change, and my glasses needed to be replaced.


Side note: I’ve been saving money for almost a year for a Costa Rica trip. And every time I’m “almost” there, something happens and I have to use my funds.


Luckily, I had my Costa Rica money, so life didn’t completely fall apart. But dang, adulting is hard.


Moral of the story: Have savings, and don’t get too attached.


P.S.- Since my phone broke, I have no cool photos of the week. However, I did take this when I was absolutely not thinking about money.



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