As promised, I decided to make a budget. I used the example No More Harvard Debt Provided and catered it to my own lifestyle.

I just had a holy shit, aha moment. I’m basically shelling out every dollar of my take-home pay and putting it toward my bills. I need to change something stat. Time to reflect and figure out where I really want to spend money and which areas I can cut back.

Payment Summary

Payment Schedule

Event Loan Payment Interest Principal Balance Loan 1 $37,665.00 $0.00 $0.00 $37,665.00 Payment 1 $1,000.00 $133.40 $866.60 $36,798.40 Payment 2 $1,000.00 $130.33 $869.67 $35,928.73 Payment 3 $1,000.00 $127.25 $872.75 $35,055.98 Payment 4 $1,000.00 $124.16 $875.84 $34,180.14 Payment 5 $1,000.00 $121.05 $878.95 $33,301.19 Payment 6 $1,000.00 $117.94 $882.06 $32,419.13 Payment 7 $1,000.00 $114.82 $885.18 $31,533.95 Payment 8 $1,000.00 $111.68 $888.32 $30,645.63 Payment 9 $1,000.00 $108.54 $891.46 $29,754.17 Payment 10 $1,000.00 $105.38 $894.62 $28,859.55 Payment 11 $1,000.00 $102.21 $897.79 $27,961.76 Payment 12 $1,000.00 $99.03 $900.97 $27,060.79 Payment 13 $1,000.00 $95.84 $904.16 $26,156.63 Payment 14 $1,000.00 $92.64 $907.36 $25,249.27 Payment 15 $1,000.00 $89.42 $910.58 $24,338.69 Payment 16 $1,000.00 $86.20 $913.80 $23,424.89 Payment 17 $1,000.00 $82.96 $917.04 $22,507.85 Payment 18 $1,000.00 $79.72 $920.28 $21,587.57 Payment 19 $1,000.00 $76.46 $923.54 $20,664.03 Payment 20 $1,000.00 $73.19 $926.81 $19,737.22 Payment 21 $1,000.00 $69.90 $930.10 $18,807.12 Payment 22 $1,000.00 $66.61 $933.39 $17,873.73 Payment 23 $1,000.00 $63.30 $936.70 $16,937.03 Payment 24 $1,000.00 $59.99 $940.01 $15,997.02 Payment 25 $1,000.00 $56.66 $943.34 $15,053.68 Payment 26 $1,000.00 $53.32 $946.68 $14,107.00 Payment 27 $1,000.00 $49.96 $950.04 $13,156.96 Payment 28 $1,000.00 $46.60 $953.40 $12,203.56 Payment 29 $1,000.00 $43.22 $956.78 $11,246.78 Payment 30 $1,000.00 $39.83 $960.17 $10,286.61 Payment 31 $1,000.00 $36.43 $963.57 $9,323.04 Payment 32 $1,000.00 $33.02 $966.98 $8,356.06 Payment 33 $1,000.00 $29.59 $970.41 $7,385.65 Payment 34 $1,000.00 $26.16 $973.84 $6,411.81 Payment 35 $1,000.00 $22.71 $977.29 $5,434.52 Payment 36 $1,000.00 $19.25 $980.75 $4,453.77 Payment 37 $1,000.00 $15.77 $984.23 $3,469.54 Payment 38 $1,000.00 $12.29 $987.71 $2,481.83 Payment 39 $1,000.00 $8.79 $991.21 $1,490.62 Payment 40 $1,000.00 $5.28 $994.72 $495.90 Payment 41 $497.66 $1.76 $495.90 $0.00 Grand Total $37,665.00 $40,497.66 $2,832.66 $37,665.00 $0.00

This amortization schedule is powered by: TimeValue Software