Paid off a Loan!

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:

https://www.youtube.com/watch?v=zZP9aflH7MY

ramsey snowball

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.

 

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About lwllms3

Hello! I'm a young professional who is looking to live debt free in a tiny home. I love learning about ways to get out of debt and everything related to building and living in a tiny home. I will write about my journey, which will include the topics of decluttering, construction, zoning and building code, and saving. I hope that something I share will help you in your life!
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