A month or so ago, I broke through the psychologically significant barrier of $10,000 remaining on my scholastic debt (consider that my total debt was at—according to revised calculations—around $100,000). I now have about $8,500 to pay down, and at a rate of $2,500 per month (I send home about $3,000 to cover other expenses as well), I can have this paid down in four calendar months. That's four more months of belt-tightening pain to endure, and if I decide to take a long walk down to Busan this October (I'm currently negotiating with my boss), I won't be sending any big bucks to the States during that month because I'll need funds for the walk itself. A lovely vacation will prove to be an obstacle.
It bothers me to be this late in paying down this debt, but life got in the way, and yes, even my budget has been affected in gross and subtle ways by the pandemic, which has reshaped all our lives. But I'm still on course to be debt-free soon. I might be celebrating later than planned, but I'll be celebrating all the same, and once I'm out of the woods, I'll take stock of my future.
Wow. Four more payments to go.
Monday, July 13, 2020
debt report
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It's a special kind of freedom to be in no one's debt. Glad to hear you are almost there!
ReplyDeleteYou're on the home stretch!
ReplyDeleteCongrats! Autumn walk sounds promising. Aiming for the same stretch or a new route?
ReplyDeleteJohn & Charles,
ReplyDeleteMany thanks. The end is in sight.
Daniel,
Probably the same route, and for a few reasons. First, I've pretty much fallen in love with the Four Rivers path. Second, I've thought about doing the path "backwards" from Busan back to Incheon, but the idea of finishing in Incheon feels, well, anticlimactic to me. The walk to Incheon always feels that way, probably because, the first time I did the walk, I'd been expecting a more spectacular view of the sea. By contrast, walking that final stretch to Busan feels exhilarating, and I can't say why. Third, I don't think I'm going to have the time to do a longer route like the east-coast trail, which would also require a large amount of planning. By redoing the Four Rivers trail, I have familiarity on my side, and much less to prep since I've done the route twice, now. Lastly, even though I might be following the same route, the experience of that route is different every time. It really is.
I do plan to branch out and do other routes, of course, with the east-coast trail at the top of my list. But that's for a later time. This year, we've got a pandemic to deal with, plus I'm entering the final phase of my debt paydown, which means money will be tight. It's best to keep things simple this year, I think.
Thanks for asking!