I'm starting to prepare taxes for 2013, and I just realized that I paid $3,806.70 in interest alone for my student loan payments in 2013. That is almost 50% of my total loan payments in 2013. Yikes! Almost $4000. In. Interest. Alone. This amount will likely increase in 2014 due to an upcoming significant increase in my IBR payments for my federal loans.
I'm also starting to plan out a detailed budget for the next several months, which is difficult for me because I'm realizing that I'm not very good with numbers. But this is all about to change! I'm going to get good at numbers. I need to if I'm going to figure out the best methods of paying off my loans. I want to set out a detailed plan for debt payoff, with goals, dates, and spreadsheets. I'm going all out! And I'm going to have to get creative. Stay tuned.