Sallie & Perkins: An Update

It's has now been just over a year since our alter-egos made an appearance on this blog and I thought it was about time to update the world on where we've been. If you're newer around here, you might not even know Sallie & Perkins exist. They started as a way to document our student loan payoff, hence the names we chose.... Sallie Mae and of course the dreaded Federal Perkins Loan. 

We officially paid off our last student loan in December 2014. We celebrated, we hollered and danced and definitely chilled out on the obsessive number crunching for a month or so. That mental break was much needed. In 2015, we felt committed to paying down our mortgage and ended up paying an extra $12,000 off - on top of our regularly scheduled mortgage payment. It was great to see that principle reduction and that "big" number at the end of 2015, but let's face it- we could have done more.

You see, there were months we were paying $2-3,000 extra on student loans when we truly buckled down! We got lazy last year and just made extra mortgage payments when we could. We didn't have a set plan to pay off a set amount and I think that's what hurt our progress. We WANT to be those weird people who don't have a mortgage payment one day. Let me clarify- not just one day... sometime in the next few years! So while our $12,000 in 2015 was great? We know we will do better in 2016.

We've made it our goal to pay off an additional $25,000 on our home this year. GASP. It's a big number, but it's doable. We paid that amount in one year previously, and that was a couple of years ago where we made less than we do now. I think sometimes it's hard to stay as focused when it's a mortgage vs a student loan debt but making this goal has motivated us more than ever. Already this year we've paid an additional $7,600 toward our mortgage and it feels great to start with that momentum.

We don't ever want to lose our momentum or get too comfortable living a life of debt. It's not the only way to live, promise! If you ever want to talk debt, Dave Ramsey or just want a pep talk- feel free to hit us up. Nothing makes us happier than hearing about others tackle their debt as well.

Mortgage- we're coming for ya!


34 comments

  1. Good ol S&P, I love those two! So awesome y'all are renewing your money goals, right on. I think you two set an AWESOME example regarding saving and money management. It's not just about buy things on sale it's about realizing what is important and putting the money towards paying of a loan or a home. Keep up the great work, I KNOW you are going to ROCK IT!

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  2. S&P makes me smile - at least these SP people do, ha! Good job on the goals, you've gotten yourself far!!

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  3. Ahhh I never knew where the names came from! Love it. You guys got this - such an accomplishment!! Do you have a specific budgeting tool you use? I would like to start saving more for a down payment but I am not sure where to start!

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  4. Yay for staying on top of it! A paid-off house would be a very, very good thing!

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  5. You go Sallie & Perkins! Chase that mortgage down!

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  6. Yay!!! Thats a huge goal but you can do it and it will be worth it in the end. I read some of Dave Ramsey's books when I was in high school and the principles have really stuck with me! I hate debt and I too want to be one of those weird people that doesnt have a mortgage payment forever. Good luck!

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  7. Seriously cracking up -silently since I'm at work- at those pictures! Good luck on reaching your goal! You've already got a great start!

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  8. That is amazing! Think about all the extra money you'll have once you pay off your mortgage! You guys are doing SO great! I read on Dave Ramsey that he suggests making at least one extra payment a year, so right now we are proudly putting down an extra $80 or so a month ;) Which ... um, sounds a bit lame compared to you guys. But it's the best we can do right now! Maybe we'll pay ours off a few years early. You know, when we are 43 instead of 45. LOL.

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  9. Love these two ;) you have some serious income to be able to save that each month!

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    1. Thanks, Debra! I honestly see both our incomes as pretty "average" :) Most friends my age all make more than me- lol! But we focus and cut anything out we can and have worked hard for the past few years.

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  10. That is so unbelievably awesome! As a fellow numbers cruncher, what the heck did ya'll do to ensure a large lump sum was going towards a debt? We've done the snowball effect, and it works well for us. Anything extra to add to help pay off our student loans/cc's/truck payment/mortgage?

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  11. Good for you guys! It's great to beat down the principal amount!

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  12. You guys are so inspiring on this topic! I have some grad school loans that I need to repay and you really have me itching it get done with it in the next couple years. Also, any excuse to see you two in those glasses...

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  13. I love when these two make an appearance here on the blog. Makes me want to go out all my money towards my loans right this second. I can't right now since we're paying for a wedding and my goal is to do all of that in cash-doing good so far! Yay :) then after that I'll need a new car and we will want to buy a house or condo since rent money just sucks so we will be saving for a down payment. Blah it seems so far off until we will be able to really focus on my dang student loans but I can't wait to tackle them. I'm definitely motivated to save save save so I can get to them faster.

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  14. I seriously need your discipline and motivation. I so badly want to get out of debt- ours is horrendous and it just feels like we keep acquiring more (thank you childbirth medical bills) rather than paying our existing ones off. I'm sure you've posted on it before, but how do you cut corners to ensure that you have funds leftover to apply? I feel like we pay minimum payments on everything and we're just constantly treading water. It's so frustrating!

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  15. I love these posts! I really need to read Dave Ramsay's book, I know the general idea and am completely on board with living debt free and living within your means (or below them) but I've never read the full book. Congratulations on accomplishing so much on your road to being debt-free! :)

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  16. I seriously love this, so awesome!

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  17. You guys are awesome!! Has it really been that long since Sallie and Perkins last made an appearance?!

    I can't wait to be debt free - its got to be the best feeling ever!

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  18. I've missed S&P!!!!!! ;) yay!!!!! You guys are still rockin it. Caleb and I are so focused on getting out of debt ASAP and it feels great making these extra payments each month- no matter how much!

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  19. You guys seriously inspire me!!! We're hoping to put a lot more toward our mortgage this year, but we're saving ours up in an account so that we can refinance to a 15 year and get rid of PMI. We had to go with that kind of loan because of our reconstruction loan... my husband hates it...

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  20. I love/loved this series! Yall are awesome and have so inspired us to keep chugging through! We're about 4 months ahead of our goal we set back in December so we're excited!! Here's to great years with big goals!

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  21. That's such an awesome goal! I know that we should be thinking about doing something similar, but I think that I'm just too lazy to actually budget it out.

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  22. Glad to hear you guys are back on track with paying off the mortgage. That is what baby step we are on also and I am obsessed with paying it off. I can't wait!!! I'm also like you guys in that I LOVE to talk all things Dave Ramsey. I love to encourage people, help them and be their cheerleader. And to note...it's still doable with having kids...we've had 2 since starting our debt free journey and have still be consistent on paying all extra money while having the increase in childcare, college funds, etc. I'm cheering for you guys from MN :)

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  23. Love this!! We were doing so good on saving money and paying off debt for awhile but we slipped hard and are having a hard time getting back to it. And now we just found out they caught fraud charges on our debit cards so we pretty much have no money to spend right now. It's frustrating but I think we will use it as our chance to buckle down again!

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  24. Yay Sallie and Perkins! You guys are too cute and I can't believe it's been a YEAR since they've made a blog appearance. How does time go by that fast?! Congrats on all of your debt-paying-off accomplishments :-)

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  25. i can't believe it's been so long since S&P graced your blog! dang, time flies, right?! good luck with this awesome goal!

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  26. This is amazing, congratulations!!! We paid off 30k in student loans a couple of years ago and it was SO HARD, but so awesome. We still have a couple smaller loans left (kind of got burnt out on putting allll our money towards them haha), but this is great motivation to get back at it! Can't wait to follow along on your mortgage payoff!

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  27. I can't wait to watch your progress!!!

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  28. Has it really been a year??? That is crazy!!! You guys always inspire me to try and do better with the whole paying stuff of and budgets!!!!

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  29. You guys are seriously such an inspiration!! It makes me antsy to start working again to put more money into paying off our vehicle and building the savings... but at the same time I'm doing just what need me to be doing with how much Eric works right now. Someday we will be back to a 2 income home. And when we do? I want to be rock stars like YOU!

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  30. I love S&P! I started taking Dave Ramsey's class at Crossroads in January, and when I start feeling weak (and wanting to online shop!) I come to your blog and check out some old Sallie and Perkins posts to get inspired to put all the moneys towards my college loans!

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    1. That's awesome!! His classes are seriously motivating and I love listening to his show on the radio too. Everyone's stories inspire me so I'm glad we can inspire as well!

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  31. I have missed these two! Even when you "take a year off" you ROCK it! As I tell you every time I see these guys, you are such an inspiration! Also...how about Ramsey as a name (or middle name) idea for baby boy??? HA! :)

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  32. My mom loves Dave Ramsey. She's all, "Preach it, Dave."

    This is so clever! Sallie and Perkins are awesome alter-egos. :)

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Thanks SO much for taking the time to read and comment on my blog! I read each one and love to respond and chat with you! :)