Once you have a clearly defined goal, ala paying off debt, saving, or maybe just getting on a budget, you will find a way to make it happen! So here are a few suggestions, tips, pieces of advice to help you if you want to pay off your student loan debt as fast as possible.
We were once kicking the idea around of just paying the minimum and using the Income-Based Repayment option, or IBR, for the next 20 years
The next thing we did was we got on a budget. Simply put it is the most underrated personal finance tip of all time. A Gallup poll shows that over 6 in 10 Americans do not use a budget.
Lauren and I quickly realized if we wanted to pay off student loans that were in the six figures we could no longer compare ourselves. Just like that, we stopped. We did not worry about the size of our wedding, the cars we drove, or the house we lived in.
Why are you paying off debt? Like us, everyone have a reason to pay off their debt. Once you figure out your reason, you will stick to it and nothing will throw you off course.
I want to travel, I want to have a wife who stays at home with kids, and I want to say yes to our kids more than I say no. Our WHY is crystallized. It is what motivates us to payoff $57,000 in student loan debt in 12 months.