Eventually, something changed in me. I was about to azing, beautiful, super-fun, and kick-ass wife (see picture). I wanted to find my personal shit together with her. So, I started reading, and taking action on what I read.
I read every personal finance book and blog I could get my hands on (if you’d like advice, email address me within ). These books literally changed my life. I studied. I applied. I moved into a smaller apartment. I sold my car and started biking to work. I even got creative and took out a 15-month notice-free credit card to cover expenses for a few months until my next student loan disbursement came (I paid the balance in full before any interest was due). Slowly but surely, my financial picture started looking better.
So, there’s some background. But that’s not really why I’m up at 5:38 AM on a Thursday morning writing this to you. This post is about one of my current financial strategies, and (more importantly), something you can do along with your money.
My spouse and i existed really frugally in my own PGY1, thriving almost entirely off of the lady salary and you will placing my personal paycheck into the my personal fund. However the the reality is one to we nevertheless got over $100k to go. And you will we have extra a mortgage, old-age deals, and you will an evergrowing relatives to your monetary photo.
Once the We have graduated inside the 2013, we have made a ton of progress to my figuratively speaking
At the peak of my loans (I graduated with just over $200k), I was paying over $26 in interest just about every day. I calculated that payday loans Schererville as a resident, the first 4 weeks off my personal collect paycheck would be given straight to the bank just to pay the interest on my loans.
End the next and you may consider that. Each day, also to buy a sit down elsewhere on the eatery about hospital where I did do initiate me personally at bad $29 at the time. ahead of I’ve made anything.
If you graduated recently (or are about to graduate), you’re probably in a similar situation. Doesn’t that make you furious? Because it sure as hell fires me up. It makes me burn with the fury of 1000 suns.
But before we get too carried away, this isn’t one of those “We have to act from the student education loans!!” complainy-posts. I’m resigned to my choices. No one forced me to go to pharmacy school. No one forced me to take out more money than I needed. I wasn’t educated about what I was doing, but that’s my fault. That’s on me. I’m able and willing to deal with the consequences of the misguided choices of my youth.
However, that doesn’t mean I’m not gonna do everything for the my capability to spend less and relieve the newest financial weight on my children.
Lowering your Student loan Burden
Lowering the desire on your education loan saves you a bunch of cash. in both your payment and also in the total amount you shell out over the name of mortgage.
If you’ve been paying attention, you may have noticed something recently. Private loan companies are coming out of the woodwork offering lower interest rates compared to federal loans. This is especially true if you’ve got Graduate and Graduate Plus federal loans. that you probably do if you graduated with a pharmacy degree.
Each and every time a new personal lender popped upwards within my Twitter provide, I’d eagerly review new deets. I found a great amount of businesses and a lot of arrangements you to seemed glamorous. However, one thing usually eliminated me away from refinancing: Not enough liberty.