College years are known as the highlight of any person’s life. That is until you need to start repaying those loans. Living with that large red number on your statement is literally like walking around with a supersized ball-and-chain around your ankle.
Freedom does not have to be a far off dream. This is the best college help you’ll find online.
The Budget Life
We all love the thrill of getting those first few paychecks. Money in your account is the best feeling in the world, having zero before month end is not ideal. Budgeting will not only help you manage your monthly expenditure it will help you to make wise decisions when it comes to paying off your student debt.
Now that you are used to getting a salary, an early morning coffee at Starbucks, weekend parties and a monthly spoil makes it feel like life is going really well. Big mistake! Keep track of all your week’s expenses and you’ll be shocked at how much money you are “wasting”.
Now times that by four weeks. Not so fun anymore ,is it? Why not wake-up a bit earlier, make your own coffee and rather invite your friends over to your place every now and then? Now that you are saving a good chunk of money every month you can start putting that towards your student debt.
Take Charge Of Your Money
Many credit card options these days have an incentive program attached, usually giving you a percentage back of your monthly return. Try almost $ 500 a year from a monthly spend of $ 2000, not too bad.
It is Important to keep your credit payments in your peripheral though. If you are going for the old school approach, why not get out the old honey jars and fill them with good ol’ hard cash. Seeing that money grow each month might just be the motivation you need.
Raises Are For Saving, Not Spending
Nothing beats depositing a large chunk of money into your bank account. The best thing you can do with that extra figure on your paycheck is to pay half (if not all) of that amount into your student loan account. This might not give you the same high as buying a new TV or travelling overseas, but it certainly gets your closer to the end goal.
The After Life
What would you do with some extra cash each month if you didn’t have that student debt? Travel, buy a house or go partying every weekend? Plus did you know that the longer you take to pay off the debt the more you would be paying in interest. Goal setting of this nature will most certainly help you get rid of that nasty debt really quickly.
The side-gig economy
Office hours are from nine to five. What about those evenings spent watching countless hours of useless reality shows or hanging low over the weekend. This is the perfect time to get yourself a side-hustle. Look online, get some friends together and start something or work in the family business. Just imagine what a few hundred dollars every month could do to your debt.
Paying off that student loan looks impossible in the beginning. However, taking some practical steps and self-discipline is sure to get you a long way. So why not start today and put up the plan against your bedroom wall? Pay off that debt in record time; it is something you won’t regret.