It’s no secret 2020 has been a year of uncertainty. From jobs, to health, to our normal day-to-day, nothing has - or will be the same. Now more than ever we want to have a sense of wellness in every aspect of our lives – especially financially. And no matter what your current situation is, there are ways to make strides toward financial wellness, if you’re willing to do the work.
Being a young professional knee-deep in student loan debt, it’s hard for me to save and think about retirement. I’d rather use my disposable income to fund my next trip. However, in my efforts to be a ‘responsible’ adult I decided to create a system that prioritizes my debt and allows me to start saving for my future.
Read MoreManaging student loan debt isn’t easy, but it’s doable. Unfortunately, it seems that the average amount of student loan debt increases each year. For 2014 college graduates, their student loan debt averaged at 33K per person, according to a blog post by the Wall Street Journal, “Congratulations to Class of 2014, Most Indebted Ever.” What a headline.
Read MoreSeven million federal student loans are in default, and garnishment is one of the many ways the government can get their money back from you. Learn your options on how to stop student loan garnishment and rebuild after defaulting on your student loans in this great post.
Read MoreRight before I turned 30, I was depressed and didn’t know it. Luckily, a really good friend noticed a change in me and suggested that I seek help via my employer’s wellness program. After reaching out to them, I found out that I was eligible for counseling visits under my health insurance program. I spoke with a counselor and began to deal with my reality of having more than $135K in student loan debt. This was life changing for me.
Read MoreOver 43 millions Americans are repaying student loan debt. With summer being here, many people are looking to enjoy it with a vacation. I recently took a trip to Mexico with friends. However, in the past I would pass up vacations with because I felt guilty about my student loan debt. Now that I’ve vacationed, I have to admit that it was amazing and I am guilt-free because I planned far enough in advance and stuck to my budget.
Read MoreSo what can be done to expedite paying off student loan debt? Refinance your student loans into one new loan with one lender. The new loan will pay off existing federal and private student loans. Credible reports that borrowers who refinance into a shorter repayment term can expect to save at least $18,000 over the life of their new term. Refinancing student loan debt also reduces monthly payments and saves on total interest paid.
Read MoreA large part of why I began blogging about student loan debt is because I found people don’t fully know their options on how to manage student loan debt. The language that these student loan providers use can get a bit confusing. In Part One of this series I wanted to discuss the difference between deferment and forbearance.
Read MoreLike a lot of new graduates, trying to understand what options are available to manage student loan debt it can be overwhelming. Credible does a great job of breaking down the difference between refinancing versus consolidating your student loans.
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