Okay, we am removing ready to begin a brand new pursuit which pays ,000 some-more a month than what we am creation now. we have about ,000 in debt from being in college. Any suggestions upon a great approach to revoke it as well as still not feel deprived. we wish to outlay a little of my newly warranted income since we haven’t outlayed alot in a final 2 years. But we additionally wish to compensate off my debt.
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How about setting 50% of your new excess money to pay towards debt. Other 50% for you. List your debts smallest to largest & take every cent from the "debt" excess & send to smallest debt- Once that one is paid, take the next smallest & do the same. You get to see the results faster & it gives you great motivation. Plus you still have some money to spend!
Good luck!
To save money lately I’ve been going to this site http://www.daddymorebucks.com
This guy has a bunch of kids and some really creative was to save a lot of money. Neat stuff.
Hope it helps you as much as me, I’ve saved like $500 a month with some of his ideas.
Do the right thing. Repay at a higher rate than you have been, and get the debt behind you. It will pay off in the future. I know tha you have been doing without for a while, but by taking care of the debt, you will be free of it ffor good!
Pay off the debt first. Then you can splurge.
You should pay off debt first then splurge. Spluging implies "wants" not "needs" and the reality is that paying debt now will give you more money [savings from not paying interest] in the future. We do an example that paying minimum payments on $499 PS3 will mean $400 in interest by the time it’s paid off a few years later. Best Wishes
I think the 50/50 idea is good, but as for paying of the order of debt, I thought you were to pay off the debt with the highest interest rate first, that way once that one is paid off and you are not paying that interest, it frees up more money to pay off smaller debts and you can clear your debt faster!
Good luck
well it all depends on how fast you want to pay it off. i would say use the first month you are at your new job to get yourself settled enjoy your new job and its better pay. then next month start paying it off. start with as much as you can because you are still used to living on the minimum as a college student. do you still live with your parents? if yes then i would say first pay your bills. then save 25% of whats left over for yourself and use the rest to pay your debt. you dont want to keep that debt for too long because it just start piling up and you start paying interest.