Ditch Student Loan Debt
If you are one of the millions of Americans who are struggling to pay off their student loans, you might find comfort in the fact that you are not alone. In fact, you can easily find reporting that states the amount of student debt has more than doubled over the last 10 years and is now well north of $1 Trillion dollars.
You have invested a lot in your education and as you work to grow your career and reap the rewards of your investment you realize that you still owe a considerable amount. A couple of tips to help you out would be the following:
Check Your Credit Score: It is easy to do and it can let you know how you look to potential creditors. You may think that you don't care if your score is bad, but it could cause you problems in renting your next apartment or getting a good rate on your car loan. Even if you can't do anything right now to improve your score, you should know what it is - you don't want your next boss or next landlord to know more about your situation than you do.
Create A Budget - And Stick To It: This isn't like your New Year's Resolution or your last attempt to "really lose weight this time". You need to get a complete understanding of your cash flow situation. You need to make a budget and set aside money for paying off your monthly bills, making your student loan payment and putting some away for retirement (it may seem like a long time off, but even a little can help and you don't want to be worried about money forever!)
Pay Yourself First: Do you know how much FICA tax was taken out of your check last week? The answer is probably "no". An easy way put money away . . .
It never hurts to look! There are new jobs being posted every day. It's time to check out local job opportunities in your area.
Your Financial Core Muscles
Getting in financial shape is similar to getting in physical shape. If you take good care of your body, you are eating right, tracking your exercise plan, and working on staying in shape on a regular basis.
The same level of care is needed to keep your core financial muscles in shape. As you know, if your core muscles are in shape, you are in shape.
To get in good financial shape, you need to work on it regularly. You also need to understand, it doesn’t happen overnight but it does happen every day. Here are a few tips to get you started:
Get Organized: Do you have a plan? You should keep track of your expenses. Just as when you try to lose weight, it is a matter of consuming fewer calories than you are burning.
With financial success, you need to be spending fewer dollars than you are earning. Keep good records of what you owe and when it is owed. Understand how much . . .
There are great jobs out there right now, in your neighborhood and in your area of expertise. One quick check can let you know who is hiring for the hot new job.