Pinching Pennies #4

Here is this week's installment of a few ways we pinched pennies. It helps me stay motivated as we power through our 10th year of debt repayment on a single income.

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Loan F

We've reached another debt repayment milestone.

My federal student loans were split into several different loan groups, called A, B. C. D. E. F. G. H. Three years ago (2015), we turned our attention to these loans because although they didn't have a high monthly payment (due to an income-based repayment plan) they did have a higher interest rate and were actually getting larger every year.

We started by repaying the loans with the lowest totals, taking 2 years to knock out loans C, D, E, and H. About one year ago, in June 2017, we turned to loan F which had a balance of $15,562.15. This loan was costing us $67 in interest PER MONTH!

And after one year of throwing everything extra at this loan--our monthly debt snowball of almost $700, every paycheck my husband earned for teaching extra classes, every ebates check, our tax return, and more--we just sent in our last payment!

Whew! What a relief. Now that $804 worth of interest we were paying per year can go toward paying down debt.

Next, we will focus on a private loan of my husband's (instead of loan G). Hopefully, in another year's time, we will be celebrating the repayment of that loan as well.

Sweet Potatoes for Lunch

On the way home from a soccer game, my husband was able to stop into the local discount grocery store and buy sweet potatoes for $.33/lb. He roasted them whole in the oven and we've both been using them as the base of our lunches. Combined with leftovers like chili, quiche, greens, or refried beans, and then topped with kimchi or salsa, they make a nutritious, easy lunch for us both.

Discount Cheese

Also at the discount grocery store, my husband found mozzarella balls for $.99 each! He bought 15 of them which we put in the freezer to pull out when we make homemade pizza.

Flexible Spending Account

As soon as my midwife gave us our invoice for our homebirth, my husband submitted it for reimbursement from his flexible spending account. Our homebirth is not covered by our insurance plan, but we were able to set aside some money tax free to pay for a portion of it.

First food from the garden

Even though it will be another week or so before we can enjoy our first salad from the garden, I did find time to thin out my early plants and add the bok choi, chard, and lettuce thinnings to a simple soup with chicken broth and canned tomatoes.

We also were able to harvest some rhubarb from our backyard plant for the first time ever. We've been letting it grow and establish itself over the last two years, but now it is big enough to be picked. Usually, I spend about $10 on rhubarb this time of year to make a compote with blueberries, chia seeds, and a little sugar. We love this spring treat and put it on oatmeal, granola, waffles, or ice cream. And this year we can enjoy getting the rhubarb for free.

What frugal successes have you had this week?