This is how you can pay off student loan debt FAST?

Shivam

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Image Credits : Unsplash

Do you want to pay off student loan debt? Well, student loan debt is crippling the lives of so many people in the U.S.

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And while we’re all crossing our fingers that Uncle Joe might have some  sort of last-minute student debt forgiveness scheme in the works

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Student loan debt is crippling the lives of so many people in the U.S. And while we’re all crossing our fingers

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Action 1: Deal with your reality and understand your loan. A lot of us  avoid talking about student loans or try to forget that we event have  them.

Action 1

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But the reality is that you need to deal with them as soon as you leave school and not wait until your grace period is over.

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Action 2: Pay more toward your principal As I’ve already said, your  interest changes every year. So, if you have to pay back 333 dollars in  student loan each month

Action 2

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almost half of that goes to interest. The best way to pay off your student loans quickly is to put extra money

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Re-focus other loan spending (i.e. cars) or expenses towards your loan  principal People who have just gotten their first job tend to spend a  lot of money on things

Action 3:

Action 3:

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This is called “lifestyle inflation,” and it is a bad habit. When your  income goes up, you compensate by spending more on your lifestyle.

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Action 4:

Action 4: Start a side hustle Most people will tell you to work harder  at your job, but there’s a limit to how much money you can earn when  you’re trading your time for money.

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