So, I have an update for you guys. I have successfully paid off four out of eleven student loans that I acquired. I want to give you a few tips and tricks of how I'm tackling this debt.
- Start paying of the smallest amount first (which will reduce your monthly payment)
- Use the difference of your previous balance to pay of the next loan (for example if you paid off loan 1 and that knocked your monthly payment by $15. Use that $15 to pay off loan 2 and ect.)
- Make your goals measureable yet challenging. Do something you know you can achieve.
- Budget, budget, budget, and did I say BUDGET.....I think you get the point
- Let go off some bill that you can live without. Example: Cable
- Keep a copy of your loans. So you know exactly what you are dealing with. You'll have to face it sooner or later. I Simply highlight mines when I pay them off.
- Say No...to going out to expensive place all the time. Or if you do purchase something cheap.
Great information; thanks for sharing and have a blessed weekend.
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