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43.6 million Americans have student debt (1)...
And, unfortunately, you're one of them!
And your student loan interested started accumulating again after being on pause for THREE years...
Your loan servicer may have changed and moved...
And as of October 1st, 2023 your first minimum payment was due again!
For many borrowers, the money that you were spending on minimum payments is now being used for other things. Maybe you bought a new car, or upped your subscription services, or started therapy.
Starting payments again can bring a myriad of feelings and is a reminder of that hopeless feeling that you still owe thousands of dollars that you aren't just going to win from the lottery.
I know the crushing feeling of being under the weigh of all of those thousands of dollars. The hatred that your minimum payments bring. How UNFAIR it feels that you were only 18 and barely had a concept of money, yet somehow signed onto thousands of dollars of debt that you didn't have a concept that you would have to pay back...I get it. I've been there, but now I am debt free.
Don't let it crush you all the way: It's time to make a plan and start getting ahead on this debt. Because I know: It IS possible to be DEBT FREE!
When it comes to making or breaking our budget, the little every day decisions can really pile up in either direction.
Did we say “Yes, yes, yes!” to everything that came up this month, or did we say:
“I’m sorry, but I can’t afford that right now.”
“Sorry, but it’s not in the budget”
“I’m trying to save for a downpayment, so I can’t spend money on tickets for that concert this weekend.”
“The store-brand beans are good enough for us!”
“I stopped buying paper towels because it’s cheaper to wash reusable ones!”
“I’d love to go out to dinner. I’ll just be getting a drink when we go, but I’ll sit with you and talk!”
“No, I can’t take a 0.5, I don’t have the new iPhone. But you do, can you do it?”
“My treat is putting this money in my savings!”
Your choices get you closer to or further from your goals! Learn to say no so that you don’t lose the momentum and progress you’ve already made.
Don’t understand all of the complicated health insurance jargon? What is a copay, and an out-of-pocket max, anyway? You’re definitely not alone, but it’s time to learn. Not only are you capable of learning, but you NEED to. Clarity is POWER especially when it comes to navigating the U.S. healthcare system. So, if you don’t know these terms, start learning them today! Premium
Deductible
Co-pay
Co-insurance
Metal tier
Out-of-pocket Max
Network Type (POO & HMO)
HSA Eligible