Well, I’m not going to have many more of these updates, only one more to be exact.
I logged in to my student loan processor’s website today and saw a balance of $1,322. I have now reached the point where my last payment is smaller than my normal monthly debt payment of $1,771. I have an extra $450 that will probably just go to car repairs, but it’s nice to have.
Last month we started at $3,079 in debt, and ended at $1,322.
I should probably wait to make the final payment once I get back from vacation and sort out what I ultimately spend, but I really want it gone and to ride that feeling while relaxing.
This month is going to be tricky because I have so many balls in the air. I am taking on a 2-week project on contract right now, which is going to make my paychecks arrive erratically at the end of the month, when I’ll be out of the country anyway. I will have to pay all my bills the morning we leave for Croatia, some in advance, before I escape them for 12 days.
Figuring out the money situation is perhaps the most complicated and annoying part of traveling. Do I take a wad of cash, a prepaid chip and pin card with a shitty exchange rate, or just my credit card and a small amount of backup cash?
All of these sound like viable options, but I don’t want to go overboard. I have a credit card with no foreign transaction fees, the Chase Sapphire Preferred card, and will try to use that wherever possible. Vacation is basically a stream of small transactions that aren’t even worth pulling out the card and signing in exchange for a 2% cash reward, so I will convert some US cash to Croatian kuna and handle it that way.
Readers: How is your debt payoff progress coming? What payment methods do you prefer when travelling?