De-cluttering and simplifying life doesn't end with tangible things but expands to that awful, stress-inducing debt. My student loans are outrageous and I'm not afraid or embarrassed to admit that they are huge. They are what they are and I have three degrees. However, just because I'll be honest about them doesn't mean that they don't cause me panic and a strong desire to throw up. I don't want to be boggled down by them or worry about them for the rest of my life, so we are making a plan.
I believe that as long as you are intentional about something you can accomplish what you want. For now, we have decided to open a separate bank account that my paychecks will go in. Our student loans will get paid from that money and then any extra in the account will get thrown towards specific loans we choose, to pay them off one at a time. We are going to reevaluate every couple of months to decide which loans to throw extra moolah at. My husbands pay will hopefully cover everything else, but of course should something crazy happen we still have the option of pulling from the other account.
I'm the kind of person who needs the visual. Once something is in my savings account it's off limits and I have a hard time touching it. Doing the same thing with loan payments will hopefully be as beneficial. I will update on how this works as we go along and share any helpful tips. In the meantime I appreciate any ideas others have and what has worked for them.
And just as a bonus and inspiration...I paid off a loan today!! Woohoo, small dent, but still a dent.
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