I can’t help but sing that classic Bon Jovi song today. Today I made a large payment towards my monstrous student loans, and brought the total down below half of the $215,000 that it was at it’s peak.
In other words, in the past 20 months, I have paid off more that $107,000 in student loan debt!!!
I did this in large part due to the early retirement studying I have done over the past year and a half.
If I had not read and applied the principles of Mr. Money Mustache (www.mrmoneymustache.com), as well as some other early retiree bloggers, I would likely be following the same script as other high-earners; spending most of the money I earn on stuff I don’t need or really want, and afterwards making small token payments towards debts and retirement.
I know I still have a lot of debt to crush, but I can actually see a little light at the end of the tunnel. I can taste the freedom I am buying for myself and my family, and this taste is driving me to want to pay down the second half in less time than the first.