Eventually, something changed in me. I was about to azing, beautiful, super-fun, and kick-ass wife (see picture). I needed to get my personal crap together with her. So, I started reading, and taking action on what I read.

I read every personal finance book and blog I could get my hands on (if you want information, email me within ). These books literally changed my life. I studied. I applied. I moved into a smaller apartment. I sold my car and started biking to work. I even got creative and took out a 15-month appeal-free credit card to cover expenses for a few months until my next student loan disbursement came (I paid the balance in full before any interest was due). Slowly but surely, my financial picture started looking better.

So, there’s some background. But that’s not really why I’m up at 5:38 AM on a Thursday morning writing this to you. This post is about one of my current financial strategies, and (more importantly), something you certainly can do with your cash.

My spouse and i resided really frugally in my own PGY1, enduring almost totally off the woman salary and you will getting my personal salary into my personal fund. But the the reality is you to we now have still got more than $100k to visit. And you can there is added a home loan, advancing years deals, and you may an evergrowing friends to the economic picture.

Just like the We have graduated from inside the 2013, there is produced a ton of improvements back at my figuratively speaking

At the peak of my loans (I graduated with just over $200k), I was paying over $26 in interest just about every day. I calculated that as a resident, the first cuatro weeks off my take home income would be given straight to the bank just to pay the interest on my loans.

Prevent an additional and think about one to. Everyday, actually to find a sit down elsewhere throughout the eatery throughout the medical where I has worked carry out initiate me personally at bad $30 at the time. just before You will find won one thing.

If you graduated recently payday loans Hawthorne (or are about to graduate), you’re probably in a similar situation. Doesn’t that make you aggravated? Because it sure as hell fires me up. It makes me burn with the fury of 1000 suns.

But before we get too carried away, this isn’t one of those “There is to do something on the figuratively speaking!!” complainy-posts. I’m resigned to my choices. No one forced me to go to pharmacy school. No one forced me to take out more money than I needed. I wasn’t educated about what I was doing, but that’s my fault. That’s on me. I’m able and willing to deal with the consequences of the misguided choices of my youth.

But that does not mean I’m not attending try everything in the my capability to save money and relieve the newest monetary weight with the my loved ones.

Lowering your Education loan Load

Decreasing the desire on the student loan helps you to save plenty of money. in both your payment per month and also in the total amount you pay over the identity of one’s mortgage.

If you’ve been paying attention, you may have noticed something recently. Private loan companies are coming out of the woodwork offering lower interest rates compared to federal loans. This is especially true if you’ve got Graduate and Graduate Plus federal loans. that you most likely perform if you graduated with a pharmacy degree.

Whenever yet another personal loan company jumped up inside my Fb provide, I’d eagerly remark the deets. I found enough enterprises and lots of agreements you to definitely appeared attractive. But one thing usually avoided me out-of refinancing: Lack of independency.