student loans

3 popular money moves that could actually be hurting you

I think one of the reasons I fell in love with personal finance is that like all other stems of math, there seemed to always be just one right solution.  In high school, I could BS my way through a written English exam with the best of them, but a math test? You had to know your stuff.  And that’s what attracted me to this field: I liked knowing that if I made the right choice, I would end up with enough money in the bank to support the life I wanted to live.

However, once I started writing this blog, I quickly realized that personal finance wasn’t all black and white.  Yes, it’s a lot of numbers, but there’s also a lot of emotion that goes into managing your money properly. People out there have a million different circumstances that can affect their financial decisions, and those in similar situations may choose different paths that ultimately lead to the same success.   

how to cut your student loan payment in half

Guess which generation has been burdened with the most student loan debt in history? Yep, we millennials.  And it’s not getting any better.

We owe $1.3 trillion in student loans alone (and that’s not even getting into auto or credit card debt) with an average balance of $28,400 per borrower.  60% of all students who graduate college do so with student loans to repay.  And 11.8% of us are defaulting on those loans[1] (which, by the way, you have to repay no matter what – bankruptcy can’t even get you out of those). Even for those of us blessed with graduating without any, we see the strain on the people we date, our best friends, our family members and feel the pressure to save for the ungodly amount our children will undoubtedly need. How’s that for a positive outlook?