Are you going to deal with your student loans?
Here’s the scenario that many readers are facing:
You finished college. You eventually found a job that pays well. You’re making great money for the first time ever. You’re paying your bills and everything is going well. What do you do next?
You want to either buy a home or travel more often. You have so much that you want to do. It just suddenly dawns on you that you have student loans to deal with. You’re happy that you went to college because it landed you that high paying gig. You realize that you have to do something about your student loans. They are not going anywhere. What should your plan be for your student loans at this point?
Should you focus on your student loans?
Why should you deal with your loans?
I personally hate debt. I don’t want to be in debt nor do I want to think about owing anyone any money. I would suggest that if you have the extra savings and energy to work longer hours, that you go right after your debt and crush it!
The sooner that you get out of debt the happier that you’ll be. There’s no time to spend your prime in debt. One of my good friends picked up a weekend job just to focus on his debt and become debt free. It wasn’t easy but now he doesn’t have to worry about student loans or owing anyone any sum of money.
If you deal with your student loans, you can do whatever you want in your late-20s. You can set yourself up for the rest of your life.
When are you exempt from getting aggressive with your loans?
There are times where I would recommend asking for a deferral or only making the minimum payments on your student loans. When are these times?
- When you have bolder plans. I believe in making bold moves in your 20s. Life’s too short to be boring. There are so many bold moves that you can make in your 20s. You can start your own business or shoot right for the top. If you’re a gambler and have bold plans, then you should trust in yourself.
- You have a career-related investment to make. Can you move your way up the ranks or increase your income? I had a friend once tell me that the only thing holding him back was the fact that he didn’t have certain credentials that his company requires. I asked him why he didn’t just go for it. He said he had no money. This makes no sense. I believe that you should make career related investments any chance that you get. I already attended two conferences this year and don’t regret it for one second.
We all have different lifestyles and goals. I hope that this article helped steer you on the right path, regardless of what your personal goals happen to be.
How are you going to deal with your student loans? I would love to hear from the readers on this one…