A Get-Out-of-Debt-FAST Plan

Inspired by Dave Ramsey’s Baby Steps to follow to get out of debt, I have officially begun what he calls the ”Debt Snowball.” Basically, the idea is to put as much $$ as possible toward your debt, while keeping yourself on a very tight budget with nearly every other area of your spending (okay, so every area… I was trying to make it sound a bit softer, ha). So here’s a system that is working for me:

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As you can see, I have a lot of small envelopes that fit inside the large envelope. Each envelope is labeled with what the $$ is for, and when the $$ is gone, I can’t spend any more until the next paycheck. It is extremely helpful to have money I can actually touch instead of just swiping my debit card everywhere I go. Yeah, I tried the ”debit card budget,” but let’s be honest, it’s just a tad too easy to lose track and/or too easy to make excuses.

Total Undergraduate Debt: $13,000

Total Graduate Debt: $14,000

Projected Debt Payoff Date: December 2013

Setting goals and sticking to it: Priceless

Grad School: Top Ten

(Please keep in mind these satirical ratings are generated from the writer’s experience and are in no way binding to all graduate students.)

Top Ten Reasons Grad School = Living the Higher Education Dream

10. You get to write papers to your heart’s content… like this morning, I wrote 3 papers: a reflection regarding 8 hours of class yesterday, a response concerning the longest article ever written by man loaded with teacher jargon and acronyms, as well as a 7-page journal article critique about using Spanish-English cognates embedded within context clue instruction. (Did you have to re-read that last part? Yeah, sorry, that was a hint of teacher jargon.)

9. Make new friends! The bonding is only beginning as a headache sets in on Monday and the syllabus clearly states that by Friday (yes, 5 days from today) you will have completed a 10 page research paper, will have memorized a list of 200 acronyms (so you are one step closer to a fluency certificate in nerdy teacher language), and will have given three 10 minute presentations embellished with extensive Power Points (don’t forget the visuals and custom animations). Bonding continues as you daily cheer each other on and persevere together.

8. More student loans!! Hurray!

7. Become a better teacher and be loaded with ideas for the coming school year. I couldn’t sleep last night because I was so excited about some of the new visions I have for the 2012-2013 school year.

6. Thankful for professors who care directly about your PD and indirectly about your students. (Oops, allow me to translate: PD = Professional Development… those darn acronyms are sneaking into my every day speaking and writing skills…)

5. Resources – articles galore, education current news, websites, blogs… I feel more than updated about any possible bilingual education issue. Many thanks Education Week, NABE (translation: National Association for Bilingual Educators), and  IAMME (acronym for the Illinois Association for Multilingual Multicultural Education). And I am forever endebted to the ERIC (Education Resources Information Center) database for all my researching needs.

4. Using verbs like concerningregardingembellished, and generated, as already used in this blog post. Writing constant research papers seems to be forcing my written vocabulary choice to grow exponentially (as well as my brain cells, lol). Does using more Tier 2 words make me a nerd? (Tier 2 being teacher-speak for words beyond the basic interpersonal communication skills (BICS), but not yet approaching the cognitive academic language proficiency (CALPs) vocabulary. Um, yes, if I said that to you in person, I probably would have used the acronyms instead of the word-by-word phrases. Let me push my glasses up my nose; they seem to be slipping.)

3. Speaking of growing brain cells, mental workouts are another pro. I can’t help but compare the grad-school-required-mental-production with a kettlebells class I go to. (Not sure what kettlebells are? Check this out.) Summary: Think about a ball-shaped weight with a big handle. You swing the weight in every which direction while maintaining control with your core muscles… It never fails that I can hardly go up/down the stairs the next day — physically or mentally, lol.

2. Don’t forget that raise when I turn in a copy of my degree. Oh yes, keep your eye on the $$ goals. #1 goal now and after grad school is to pay off school debt ASAP! (oh shoot, one more acronym thrown your way… hopefully you already are familiar with that one ; )).

1. The privilege of continuing a life of learning. It most definitely is a privilege, and I’m certainly not taking it for granted!

***Follow-up on #8: Dripping with sarcasm.

***Follow-up on #4: You’re right, I don’t wear glasses. Not yet anyway. And when I do, I might just need a nerdy pair to suit this post’s nerdy confessions.