twocents.lifehacker.com: How to prioritize paying off student debt while also trying to save & invest?
This is what individual experts have to say* generally about an issue that affects each person differently—if you want personalized advice you should see a financial planner.
1 comment:
The article provided a great number of tools to help deal with student loan debt and being able to save, save for one. It didn’t mention the idea of consolidating your loans. It also doesn’t mention ways to help shave off excess expenses. A lot of college students are really excited when they get their first credit card, but that can quickly turn dangerous. Students tend to focus on the fact that they can buy now and pay later not realizing that when the bill comes due and they fail to make those on time payments, interest piles on, late fees are added and the credit score goes down. I would recommend that everyone should take a financial literacy class before they get involved with credit cards. I was fortunate enough in high school to take a math course that was devoted to taxes, interest (simple, compound), checking and savings, all that. It’s not taught in schools anymore or if it is, students are not taking the classes. Students are graduating with student loan debt and entering a crowded workforce. You won’t necessarily land your dream job right out of college. You may have to work your way up to that six figure salary. Having a solid financial future where you can invest begins in your college time. Seek out answers, talk to economics professors or students who are studying finance. Ask questions. Take the initiative to learn about those loans you are taking out and the best ways to handle it. And don’t go crazy with the credit card.
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