Student loans can be crushing to your emotions after graduating college. My advice is to pay them off as quickly as possible. It’ll mean making some concessions, but the sooner you have them paid in full, the sooner you can begin building your wealth. You’ll also sleep a lot better. 🙂
This simple student loan payoff calculator will help you determine how quickly you be free of your student loans.
TIP: If you have multiple loans, I highly recommend starting with your smallest debt account first. This will get you a quick win and keep you motivated to continue paying off the rest.
What’s the Next Step?
Once you’ve figured out how much you need to pay in order to eliminate your student loans, the next step is to completely automate this process. Automation eliminates the possibility that you will miss a payment on your student loans, and increases follow through to almost 100%.
Set it up once, and watch your student loans pay themselves while you worry about the more important things in your life.
Grab the Financial Automation Checklist Collection and check out the “Paying Down Debt” section to set this process up for yourself. I’ll also show you a free video with how to set up your first automated payment.
These articles may also be helpful to pay your student loans quicker:
- Increase Your Income With These Four Easily in Reach Tactics
- Seven Awesome Things to Do With Your Money Without Blowing It
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