That was the total amount of student loans I accumulated while earning my undergraduate and graduate degrees. Today, $38,000 remains unpaid, largely because I haven’t consistently focused on repayment and interest has continued to accrue. I did stop borrowing for the final semesters and paid out of pocket, which kept the total from growing even higher.
It’s a substantial amount of student loan debt, but I don’t feel entirely regretful because I earned two undergraduate degrees and an MBA in Finance for that cost. Without scholarships and some out-of-pocket payments, the total could have been two to four times larger.
Since February 2012 I’ve been actively following a plan to eliminate these loans as quickly as possible. Lately it’s become almost an obsession: I constantly review cash flow and budgets to find ways to accelerate repayment. My efforts to generate extra income have been a primary focus.
Fortunately, I graduated and secured a good job in 2010, which allowed me to begin chipping away at the debt. Many people warned that finding a job would be difficult, but I did find work and that made a difference.
Now that I’ve completed graduate school, I’m committed to aggressively paying down the remaining balance. I’ve made some payments here and there, but not enough to make a visible dent yet.
If you’ve ever wondered how I make money, this page is for you — it’s dedicated to my blog income reports. I love blogging, and I’m grateful I started this site more than a decade ago. Blogging taught me a lot and allowed me to help countless people improve their finances. It also became a … Read more
Today I’m sharing an excellent piece from Carrie Willard. Carrie is a homeschooling mother of seven children, ages 2–18, who encourages moms to simplify everyday tasks so they have more time for what matters most on her blog: http://www.CarrieWillard.com. Her newest ebook, The Temporary Tightwad, explains how to drastically cut expenses to reach a transformative … Read more
Are you searching for the best freelance sites to find jobs? If you’re ready to start freelancing, this guide will help. I’ve been freelancing for over a decade and in the past year I’ve taken on more freelance work than ever. I genuinely enjoy the freedom and variety freelancing provides. Freelancing offers flexible ways to … Read more
One thing that’s been on my mind this month is that I earned my MBA in Finance two years ago. It feels like a lifetime ago, and at the same time like it was just yesterday. That also reminded me that I completed my undergraduate degrees more than four years ago. For some reason people … Read more
An emergency fund is essential for financial security. Yet a Bankrate.com report shows that 26% of Americans have no emergency savings at all to rely on when they need money fast. The same report indicates only 40% of families have enough savings to cover three months of expenses, and even fewer have the commonly recommended … Read more
Are you a nurse looking to make extra income or find the best side hustles for your schedule? Whether you want a part-time gig or an additional full-time income stream, nurses have many options to earn extra money while leveraging their skills and experience. Whether your goal is to pay off student loans, save for … Read more
It’s that time of year when many people begin setting goals for the coming year. A new year often feels like a fresh start, a chance to make changes and build new habits. Yet statistics show that only about 8% of people actually achieve their New Year’s resolutions. Even more striking, roughly 25% of people … Read more
Hello and welcome! I was recently featured on CNBC, which brought many new readers here. If you haven’t seen the piece, it’s titled “33-year-old mom makes $40,000 a month in passive income—and lives on a sailboat: How I work ‘just 2 hours a day’.” If this is your first visit, welcome to Making Sense of … Read more
Recently I visited the state motor vehicle office. When I reached the clerk’s window, I was asked to speak my address, name, age, and Social Security number aloud—right there in a crowded room. If someone nearby had been paying attention, they could have recorded my information and caused serious harm. I requested to write my … Read more
