Wow, this made something really major click for me. I have been planning my debt payoff vs savings around minor efficiencies in percentage points that only put me a few hundred dollars per year ahead, while leaving me feeling constantly cash-strapped and stressed and behind. I’m going to readjust to maximize my state of mind instead. That means being okay with only paying minimums on loans for a few months while I shovel cash into my emergency fund, so that if I need to quit my job this summer, I can do that. That is so reasonable. This is such good advice. I’m going to feel so much better. And if my job changes in a good way and I don’t need to leave, I can dump the excess into my student loans then. For a difference of like $150 in interest, maybe, max.
Honestly this whole thing was so helpful for me to read. I’m very grateful for the Billfold; it sounds silly to say, but finding healthier ways to talk and think about money has been one of the best things to happen to me in 2015, and damn this site helped. Happy new year, everyone.