I paid off one of my student loans this month! I have been following the “snowball” method to pay off my debt.
If you don’t know what that is, it is paying only the minimum payments on all your debts except for the smallest one. For the smallest one, you pay more than just the minimum (as much as you can afford).
I first heard about the snowball method from Dave Ramsey. See his video about it here:
I have kept my spending down and do a written budget so I can put as much as possible toward paying off debt. I encourage anyone who has debt to try that too!
Also, if you know any teens who are starting college in the fall, encourage them to apply for as many scholarships as possible and work while in school. It is not fun to come out of school with a ton of debt.