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How Would You Feel if Your Student Loan Balance was ZERO?
Imagine for a minute I waved a magic wand and made your student loans disappear. They are gone. They are fully paid off. Picture your student loan statement saying “Paid in Full”. Imagine how you...
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Paying Your Student Loans Off Quickly Has Hidden Benefits
Here’s one of the secrets to achieving your goals in life. Before you list the steps you are going to take to achieve a goal, take a minute to get a crystal clear picture in your mind of the benefits...
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Gina Paid Off Her Student Loans FAST – At the Ripe Old Age of 23
Gina’s story put a huge smile on my face. Gina Nykerk wrote an inspiring article titled How I paid off $16,000 in Student Loans. And she did it at the age of 23. She also did it the old-fashioned way...
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Will You Still Have a Student Loan Balance Five Years From Now?
I received some interesting comments on my recent post titled Paying your loans off quickly has hidden benefits. Here’s one of the comments. “Pretty utopian point of view. I assure you, if it were as...
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Normal is Broke: Don’t Be That Guy
In many areas of life, you can look at what the majority of people do… and give serious consideration to doing just the opposite. Personal finance is one of those areas. Dave Ramsey, the author of The...
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True Confessions Time: You Still Owe How Much on Your Student Loans?
One of the reasons so many people are dragging their student loans out forever has less to do with whether they can afford their payments and more to do with how people view their money and their...
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Peace of Mind is the Prize
Joan Otto, at Man Vs Debt, wrote a great post titled What Does Wealth Look Like To You? She talked about her view on a book she just read titled The Millionaire Fastlane and some thoughts that the...
View ArticleStudent Loans and the Feeling of Being Disadvantaged Early in Life
The cost of higher education is going, well, higher! And throwing more money at it with longer and longer repayment plans for student loans will likely drive the cost of college up even faster. A great...
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Use Your Head For Something Besides A Hat Rack
My dad had a saying when he saw someone do something stupid. He would say “Use your head for something besides a hat rack.” (That someone was usually me.) It was his way of saying “Come on. You’ve got...
View ArticleSave Money by Eliminating the Interest on Your Student Loans
Interest on student loans is why student loans make an already expensive education even more expensive. And the longer you drag those loans out the more expensive you are choosing to make your...
View ArticleThe Student Loan Interest Rate Increase is a Distraction
There is a lot of discussion at the moment about the possibility of the interest rate on subsidized student loans going back to its normal rate. Well, no doubt having a lower interest rate is better...
View ArticleCreate a Nice, Big Emergency Fund
A lot of the stress in people’s lives comes from living on the edge financially. Your car has an oil leak and the mechanic says it’ll cost $1,800 to fix it. A medical problem comes up unexpectedly and...
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Are Student Loans Driving Your Net Worth Negative?
Your net worth is a very important concept (and number). It’s something you should understand and manage your entire life (unless the idea of living on ALPO later in life doesn’t bother you). Net...
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How Much Do You (and Your Children) Owe on Student Loans?
I’m curious to see how much you owe on your student loans and to learn about your approach to getting them paid off. And how much your kids owe on student loans and their approach to paying them off....
View ArticleWinning the Fight with Student Loans
Yahoo Finance ran a great article recently that looked at how 7 people paid off their debt (not just student loans). The title of the article is 7 Real people Who Are Winning Their Fight With Debt....
View ArticleThe Hazards of Planning on Student Loan Forgiveness
The government is marketing various student loan forgiveness options to try to encourage graduates to work in government and to try to encourage more people to go to college (and borrow money to do...
View ArticleSmall Student Loan Payments Create a Surprising Risk
One of the big risks you take on with student loans starts when you decide to pay them off slowly. By slowly I mean taking 10 or more years to pay off your student loans. Making the smallest monthly...
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Student Loans and Picking Your Own Prison Sentence
Joe Mihalic wrote a fantastic post you have to read about the wisdom of paying your student loans off quickly. (And he knows a few things about how to pay off student loans.) Here are a couple quick...
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How Much Cash is in Your Emergency Fund?
One of the best ways to reduce stress in your life is to have an emergency fund. You can almost eliminate most day-to-day financial stress by having some money set aside to deal with surprises. Do you...
View ArticlePiling Student Loans on Top of Student Loans
One of the hazards of dragging out your student loans is you might end up with your loans PLUS your kid’s loans. Double trouble. I read an interesting article this week titled Student Loan Vicious...
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