Spend less money and put the difference towards your loan payments. Both of these approaches have merit, and we encourage you to combine them! To find ways to make extra money, check out our guide tomaking an extra $1,000 / month. And on the spending less money front, I recommend this...
Debt consolidation is a money management strategy that involves taking out a new loan to pay off existing debts. Student loan consolidation is often used interchangeably with student loan refinance, but when it comes to federal loans, the two mean very different things. Consolidating refers to comb...
The fastest way to have more money in your pocket is to learn how to spend it properly. Going out clubbing or eating at fancy restaurants can quickly eat up most of your income and leave you with nothing much left. If youcreate a monthly budget, you can take control of how much of y...
You Qualify For Student Loan Forgiveness:If you're already in astudent loan forgiveness planor think that your student loan balance will be eventually canceled, then it makes sense to make the minimum payments and invest your money in other areas. You don't want to pay extra on student loa...
When you understand how your debt is structured, you’ll get a clear mental picture of the amount you owe and be better equipped to reduce your debt faster. In addition to the loan amount, you need to know: Which lenders or student loan servicers you owe money to ...
Reducing your cost of living willfree up more money for your student loans. If you’re struggling to pay rent, consider roommates or moving to a cheaper location. If you spend a lot on eating out or going to concerts, use budget-tracking apps such asMintto take control of your budget....
After you get on a budget, you might consider searching for these items that you regularly spend money on. Who needs ’em? You don’t, especially when you’re trying to get rid of student loans. Pay While in College Paying on your loans while in college: Is it possible? Yes, and yo...
The important thing here is, whatever money you save in your budget, don’t spend it! You need to put it towards your student loan debt so that you can pay it off faster. Sell Stuff Around Your House After you’ve trimmed as much as possible in your budget, I challenge you to look...
If student loan payments are cutting into what used to be your holiday budget, here are some recommendations: THE PRESSURE IS REAL From family expectations to social media and TV ads showing lavish gifts, many people feel that the only way they can show love is to spend a lot of money....
One thing I did with the extra income I earned each month was putting as much of it as I could towards paying off student loans, and this way I wasn’t tempted to spend the income on something else. So, as I earned money from my blog, I put it towards paying off student loans as...