I cannot believe this, but I just scheduled a payment in the amount of the outstanding balance on my student loans. When the payment goes through this afternoon, I will be done for good.
It's been a long road. I find myself wanting to quantify this achievement somehow, despite the inherent difficulties in doing so. Can I say I paid off my loans in 10 years and a month, counting from the date that my grace period ended and repayment kicked in in 2003? Or do I count from the disbursement of my first loan back in 1999? And what dollar amount do I use? I borrowed $105,500, but by the time I started repayment, about $10,000 in interest had been added to the principal, so that I owed about $115,300 total.
I have paid off 5 loans in total, 4 of those about 5 years ago, dropping my monthly payment from the $700 range down to $200. My best guess of total principal and interest I've paid is $145,000; divided by 122 months of repayment, that's almost $1200 every single month over the last ten years. I could have bought a little luxury item like a Balenciaga bag or three new Hermes scarves or a freaking diamond necklace every.single.month.
That is staggering to me, but it still may not have quite hit me. I cannot wait to see the $0 balance reflected tonight or to get my paid-in-full letter in the mail (they had better send me something!). For now, I am already looking forward to my new life of debt freedom. I have already put in an order to resume my retirement contributions (on hold for the past 6 months while I focused on paying off the loans) and set up automatic, recurring transfers into a travel account for visits to my sister in Europe.
Student loans really, really suck. It's all too easy to incur a ton of debt without really thinking through what that means when you are only 20 years old. I am so grateful to finally be done paying for my questionable decision.
Monday, May 6, 2013
Tuesday, February 12, 2013
First Buy of the Year
I was going to see how long I could go with just the clothes in my closet, but sometimes you just crave, you know? In this case, I wanted a purple cardigan.
The J. Crew Tippi in crushed grape looked just about perfect. I have a couple of the Tippi pullovers and love them. This particular color, a rich blue-purple, is beautiful on me -- it may be my best color.
But then I found the velvet-trim merino cardigan in a very similar color at Banana Republic:
It really looks to be very similar: merino, similar neckline (though narrower trim on the BR version), similar length and spacing of buttons (9 buttons in both). As usual with Banana Republic, their version was substantially cheaper with sales and codes and whatnot, so I went for it.
I did NOT get the more deeply discounted purple color, even though I was tempted:
This is not the color I was looking for. It's redder and not as flattering a color on me, and just reads as less sophisticated overall. I can't put my finger on it, but it wasn't right, and I'm proud of myself for springing for the better purple. For some reason, this is very hard for me to do. Even when, like here, the cost difference isn't much, I have always found myself buying the cheapest colors in a sale, and that's why I ended up getting rid of so much stuff that was just wrong for me last year, including a heck of a lot of pink.
I am not sure what else I'll end up buying this year. I'm currently diverting nearly all of my free cash towards my student loans to finally have them paid off in May, 11 years from graduation. After that, I'll see. I'm seeing my favorite band play in a few months and I'll surely buy a t-shirt. My summer wardrobe is probably wanting a bit for lightweight dresses and skirts and t-shirts, but I'll figure that out after this snow melts. I could use a raincoat. But this is what I love about having my wardrobe mostly settled: I can take my time with purchases, buying things after I find I have a pressing need for them or, like this purple cardigan, just a color craving.
The J. Crew Tippi in crushed grape looked just about perfect. I have a couple of the Tippi pullovers and love them. This particular color, a rich blue-purple, is beautiful on me -- it may be my best color.
It really looks to be very similar: merino, similar neckline (though narrower trim on the BR version), similar length and spacing of buttons (9 buttons in both). As usual with Banana Republic, their version was substantially cheaper with sales and codes and whatnot, so I went for it.
I did NOT get the more deeply discounted purple color, even though I was tempted:
This is not the color I was looking for. It's redder and not as flattering a color on me, and just reads as less sophisticated overall. I can't put my finger on it, but it wasn't right, and I'm proud of myself for springing for the better purple. For some reason, this is very hard for me to do. Even when, like here, the cost difference isn't much, I have always found myself buying the cheapest colors in a sale, and that's why I ended up getting rid of so much stuff that was just wrong for me last year, including a heck of a lot of pink.
I am not sure what else I'll end up buying this year. I'm currently diverting nearly all of my free cash towards my student loans to finally have them paid off in May, 11 years from graduation. After that, I'll see. I'm seeing my favorite band play in a few months and I'll surely buy a t-shirt. My summer wardrobe is probably wanting a bit for lightweight dresses and skirts and t-shirts, but I'll figure that out after this snow melts. I could use a raincoat. But this is what I love about having my wardrobe mostly settled: I can take my time with purchases, buying things after I find I have a pressing need for them or, like this purple cardigan, just a color craving.
Tuesday, December 18, 2012
Twinset
There are a lot of stupid so-called rules about fashion, like don't wear
white in cool weather, don't wear black with navy or brown, don't wear
blue tops with blue jeans. But my new favorite is this rule handed
down by Kate Moss, who recently said of Christy Turlington, "The last
time I saw Christy, she was wearing a twinset. You can think twinset,
but you can't wear one."
I don't know what I love more about this quote: the inconsequential cattiness of it or the insight it gives into Kate's world, in which apparently wearing a matching shell and cardigan is a hideous taboo—the thought may enter your consciousness for a fleeting moment (we're all human, after all), but you must never, ever act upon it.
I'm wearing a twinset today in solidarity with Christy. It's the only one I have, a black-tipped ivory cashmere two-piece I picked up for $3 apiece at thrift, and I only bought the shell because I wasn't sure whether I'd keep the set or try to consign it. I decided to keep it. When I'm in a hurry in the morning and just want to throw something on but still feel pulled together, I think about the twinset, and then I wear it.
I don't know what I love more about this quote: the inconsequential cattiness of it or the insight it gives into Kate's world, in which apparently wearing a matching shell and cardigan is a hideous taboo—the thought may enter your consciousness for a fleeting moment (we're all human, after all), but you must never, ever act upon it.
I'm wearing a twinset today in solidarity with Christy. It's the only one I have, a black-tipped ivory cashmere two-piece I picked up for $3 apiece at thrift, and I only bought the shell because I wasn't sure whether I'd keep the set or try to consign it. I decided to keep it. When I'm in a hurry in the morning and just want to throw something on but still feel pulled together, I think about the twinset, and then I wear it.
Wednesday, December 12, 2012
Sunday, December 9, 2012
Obsessive Packing Routine: Street Clothes
Janice over at The Vivienne Files has done a few posts on packing for holiday trips. She calls it the six pack: In addition to the clothes on your back, you pack just six other clothing items for the trip.
I'm planning a variation of this theme. While Janice's selections tend to be duochromatic, I will include more than two colors. I still want everything to more or less coordinate with everything else. Planned carefully, I shouldn't need much more than six pieces total for a long weekend, including the clothes I travel in.
Here is my tentative six pack:
In addition, I'll pack a few thin, long-sleeve tees that I can wear under some of these tops. Wearing what's essentially an undershirt lets me wear the same top more than once on a trip.
Of course, I will have a coat, a few accessories, a couple of pairs of boots... and cold-weather necessities like tights and gloves. My colors are kind of all over the place, but I won't be wearing everything at once. The red coat and red bag gave me pause at first, but then I saw a picture of Kate Middleton wearing a red coat and carrying a red clutch, so I'm going with it!
Inevitably I will throw one or two things in at the last minute, but I do want to try to err on the side of underpacking. After all, I'll be in New York, so if I feel I need another something, it's nothing more than an excuse to shop!
I'm planning a variation of this theme. While Janice's selections tend to be duochromatic, I will include more than two colors. I still want everything to more or less coordinate with everything else. Planned carefully, I shouldn't need much more than six pieces total for a long weekend, including the clothes I travel in.
Here is my tentative six pack:
- a black cashmere turtleneck
- an ivory cashmere cardigan
- a burgundy wool crewneck
- a turquoise silk blouse
- a black-and-white (reads as gray) full skirt
- dark skinny jeans
In addition, I'll pack a few thin, long-sleeve tees that I can wear under some of these tops. Wearing what's essentially an undershirt lets me wear the same top more than once on a trip.
Of course, I will have a coat, a few accessories, a couple of pairs of boots... and cold-weather necessities like tights and gloves. My colors are kind of all over the place, but I won't be wearing everything at once. The red coat and red bag gave me pause at first, but then I saw a picture of Kate Middleton wearing a red coat and carrying a red clutch, so I'm going with it!
Inevitably I will throw one or two things in at the last minute, but I do want to try to err on the side of underpacking. After all, I'll be in New York, so if I feel I need another something, it's nothing more than an excuse to shop!
My Shopping List Gets Shorter, My Closet Fuller
As of yesterday I had three things left on my must-buy list: a pair of black wedge heels, a pair of flat winter shoes, and a trench coat with removable liner.
Yesterday I ordered these heels, and if they are keepers that obviously knocks one more item off the list.
I'm debating giving up on the flat shoe search entirely. I'm just not finding cute loafers or oxfords that aren't too heavy or masculine one the one end of the spectrum, or goofy and trendy on the other end. I want shoes I can either wear with dress slacks to work or casually with jeans or skirts. And I have big feet that I'm self-conscious about drawing attention to. I'm starting to think that finding everything I want will be impossible.
I saw a pair of tan Tod's at the consignment store yesterday, but passed. They were a bit clunky and beat up and if they weren't Tod's I don't think I would have given them a second glance. I'm thinking I may eventually bite the bullet and spring for the Dieppa Restrepo Cali oxfords, which are so streamlined and get great reviews:
The last thing on my must list is some sort of raincoat. I was thinking this would be a waterproof trench with a removable liner. I want something that hits above the knee; I find a lot of trenches secondhand but they are all long and dowdy and super heavy. I want something chic and slim-fitting. Failing this, I may go for a lined parka for a more casual raincoat. I saw one the other day and it was adorable and fit perfectly, and had a zip-out faux-fur liner that I could wear as a vest! Sadly it was lousy quality, with snaps that kept coming undone and weird puckering at the seams, so I let it go.
Meanwhile, my wardrobe has gotten larger with my latest acquisitions, from 50 pieces to over 60, and I want to trim it back down. This will always be a work in progress, but I like it that way.
Yesterday I ordered these heels, and if they are keepers that obviously knocks one more item off the list.
I saw a pair of tan Tod's at the consignment store yesterday, but passed. They were a bit clunky and beat up and if they weren't Tod's I don't think I would have given them a second glance. I'm thinking I may eventually bite the bullet and spring for the Dieppa Restrepo Cali oxfords, which are so streamlined and get great reviews:
Meanwhile, my wardrobe has gotten larger with my latest acquisitions, from 50 pieces to over 60, and I want to trim it back down. This will always be a work in progress, but I like it that way.
Tuesday, December 4, 2012
Shopping Lists and Trading Up
One of the things I struggle with as I shop these days is when to settle for good enough. Although my wardrobe is mostly complete, there are a few things still on my to-buy list. Some of these are must-haves (a suit, as I gave my sister both my remaining suits and then was informed that my work is going to start sending us out on the occasional client visit), while some are merely strong wants (a pair of flat shoes for winter--I have boots so a pair of loafers or oxfords isn't a necessity). And I have a few categories of things I'm always on the lookout for, like silk blouses and cute jackets.
My wants tend to be pretty specific. For example, the suit I would want to buy would be a medium gray pantsuit in a four-season wool, fully lined, with jacket and pants proportioned such that I could wear them as separates. It will be a while before I find the suit that fits the bill, and probably even longer before I have the hundreds of dollars it will likely cost. In the meantime, though? I need something.
So today at Goodwill I looked at the suit section. I didn't expect to find anything, but I did: a brown Laundry by Shelli Segal skirt suit. That's a diffusion line, so the suit doesn't have the best materials or tailoring in the world, the skirt isn't lined, the color isn't my first choice, the jacket length is slightly dated. I won't wear the pieces separately, so the suit will just sit in my closet until the rare occasion that I need it. But it fits me beautifully (weirdly, though the jacket and skirt are different sizes, they are both MY different size), it looks polished and professional, and—here is the most important part—it was $10.
In this case, I'm totally fine with buying cheap now with a plan to trade up down the road. The suit was a must-have, so by buying at least something now I fill a need and can relax and take my time shopping for a replacement. And suits are expensive; if I have to buy something in a hurry, better that it be $10 than $400. I bought it secondhand, which means that I am not putting any strain on the environment or contributing to sweatshop labor or any of the other difficulties that come with buying new clothes. And after I trade up, I can return it to Goodwill.
On the other hand, the shoes are something I can take my time with. It's not an emergency. It's hard to find shoes in my size secondhand, and I really really do not want to go get a plastic pair from Payless or Target, so when I do buy I want to make sure I get it right.
My short list before today was:
My wants tend to be pretty specific. For example, the suit I would want to buy would be a medium gray pantsuit in a four-season wool, fully lined, with jacket and pants proportioned such that I could wear them as separates. It will be a while before I find the suit that fits the bill, and probably even longer before I have the hundreds of dollars it will likely cost. In the meantime, though? I need something.
So today at Goodwill I looked at the suit section. I didn't expect to find anything, but I did: a brown Laundry by Shelli Segal skirt suit. That's a diffusion line, so the suit doesn't have the best materials or tailoring in the world, the skirt isn't lined, the color isn't my first choice, the jacket length is slightly dated. I won't wear the pieces separately, so the suit will just sit in my closet until the rare occasion that I need it. But it fits me beautifully (weirdly, though the jacket and skirt are different sizes, they are both MY different size), it looks polished and professional, and—here is the most important part—it was $10.
In this case, I'm totally fine with buying cheap now with a plan to trade up down the road. The suit was a must-have, so by buying at least something now I fill a need and can relax and take my time shopping for a replacement. And suits are expensive; if I have to buy something in a hurry, better that it be $10 than $400. I bought it secondhand, which means that I am not putting any strain on the environment or contributing to sweatshop labor or any of the other difficulties that come with buying new clothes. And after I trade up, I can return it to Goodwill.
On the other hand, the shoes are something I can take my time with. It's not an emergency. It's hard to find shoes in my size secondhand, and I really really do not want to go get a plastic pair from Payless or Target, so when I do buy I want to make sure I get it right.
My short list before today was:
- A suit
- A long-sleeve silk blouse
- Loafers or oxfords
- Black wedge pumps
- A knee-length or shorter waterproof trench coat with removable lining
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