Student Loans: We Paid Off $55,000 in 2019 (Plus 5 Tips For You)

$55,000 in 11 months averaged out to be $5,500 towards student loans each month. So I decided to write about the mindset we have adopted the last three-plus years. Here are the things we do and will continue to do as we pay off our remaining student loan balance.

1. Delayed gratification

Sometimes people confuse delaying gratification giving up now what you want most later as living like a homeless person. That is not what delaying gratification is.

2. Make extra income (often)

Here is a list of ways to make extra money: 1. Tutor kids online 2. Walk dogs with Rover 3. Start a blog 4. Build a website

3. Hold yourself accountable

Set a goal to find some sort of accountability system. Ideas include: 1. Spouse or partner 2. Financial mentor 3. Church member you trust

4. Reward yourself for hitting milestones

Make a game of your debt and reward yourself when you hit milestones. Ever used the same workout for a few months and feel like you hit a plateau? The same thing can happen with your finances.

5. Go back through your budget

Spend some time in the next few weeks going through your budget and seeing where maybe you can “Tidy up” some spending areas.

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