What are the best options for life after college? What can you do to ensure that your time after school isn’t wasted?
Now that we’re done with the Travel Like a Rockstar series, it’s time to think about life after college. With the fall term coming to an end there are going to be many of you reading this that are finishing up with college. Now that you’re near the end of your college run, you might want to start planning ahead so that you don’t find yourself watching Lost online all day.
- Work Abroad.
- Create something.
- Start your own business.
- Learn a new language.
- Master a skill.
- Do nothing.
- Pay off debt.
Those are 7 amazing options to consider when you’re done with your studies. We’re going to randomly dissect each idea per post. Today we’re going to get into paying off debt after college.
How can your crush debt after college?
The process is really simple. Work like a mad man, eliminate your expenses, and put all of your money towards debt. There’s nothing else to it. I find that on other personal finance blogs and in real life we get all caught up in the minutia. There’s no need to waste your time on the minor details. You need to stop searching for quick solutions because you know damn right that there isn’t one that exists out there.
If you want to crush your debt after college you need to put all of your extra money towards your debt instead of sitting around and complaining about the economy.
What’s the best way to increase income?
There’s no secrets here guys. You need to get off your butt and work. Find a job. Find two jobs. If your full-time gig isn’t paying the bills, then you need to find a weekend/evening job to make more money. You need to do anything that’s humanly possible to earn more money. Find a job that’s beneath you. Find a job in sales. Serve drinks. Do everything possible to increase your income. Once you’re making more money you can then use this extra cash towards your debt payments.
How can you kill expenses?
Once again, you need to make some serious sacrifices. This isn’t going to be easy. You know where you need to cut back. You just don’t want to admit it. When in full out extreme kill debt mode, you need to cut out all of the BS from your schedule. The good news is that you won’t even notice because you’re going to be so busy with working all of the time. The bad news is that you’re going to be working all of the time for a certain amount of time.
Is this extreme method worth it?
It really depends on your outlook on life and how you feel about debt. Some of us don’t really care about debt and don’t mind the idea of owing money. Then there are those like myself. I personally hate debt and don’t want to be in debt. I do my best to ensure that I never get into any kind of debt.
Once you kill your debt you can start to consider the other options that are outlined in this series.
That’s all that I have to say about killing debt after college. We’re going to get into the other ideas shortly. For now I just wanted to ask you guys a question:
Have you made major dents on your debt lately?
(photo credit: norsez)