Eventually, something changed in me. I was about to azing, beautiful, super-fun, and kick-ass wife (see picture). I wanted to track down my crap together with her. So, I started reading, and taking action on what I read.

I read every personal finance book and blog I could get my hands on (if you prefer recommendations, email address me personally at the ). These books literally changed my life. I studied. I applied. I moved into a smaller apartment. I sold my car and started biking to work. I even got creative and took out a 15-month attract-free credit card to cover expenses for a few months until my next student loan disbursement came (I paid the balance in full before any interest was due). Slowly but surely, my financial picture started looking better.

So, there’s some background. But that’s not really why I’m up at 5:38 AM on a Thursday morning writing this to you. This post is about one of my current financial strategies, and (more importantly), something you could do together with your finances.

My wife and i lived most frugally in my own PGY1, thriving almost totally off of the girl income and you will getting my personal income with the my personal financing. Nevertheless the reality is you to definitely we have however got more than $100k commit. And we’ve extra a home loan, retirement offers, and you can a growing family relations to your economic photo.

Because the We have graduated into the 2013, we have produced a ton of advances on my student loans

At the peak of my loans (I graduated with just over $200k), I was paying over $26 in interest everyday. I calculated that as a resident, the first 4 days off my take home paycheck would be given straight to the bank just to pay the interest on my loans.

Avoid an extra and you can think of that. Every day, even buying a walk throughout the eatery in the hospital in which I has worked would initiate me on negative $31 at the time. ahead of I have payday loans Geneva IN acquired things.

If you graduated recently (or are about to graduate), you’re probably in a similar situation. Doesn’t that make you frustrated? Because it sure as hell fires me up. It makes me burn with the fury of 1000 suns.

But before we get too carried away, this isn’t one of those « There is to behave throughout the student education loans!! » complainy-posts. I’m resigned to my choices. No one forced me to go to pharmacy school. No one forced me to take out more money than I needed. I wasn’t educated about what I was doing, but that’s my fault. That’s on me. I’m able and willing to deal with the consequences of the misguided choices of my youth.

However, that does not mean I am not attending do everything for the my power to save money and reduce the latest monetary weight for the my loved ones.

Lowering your Education loan Weight

Reducing the desire on your student loan helps you save quite a bit of money. both in your own monthly payment as well as in the quantity your shell out along side title of your financing.

If you’ve been paying attention, you may have noticed something recently. Private loan companies are coming out of the woodwork offering lower interest rates compared to federal loans. This is especially true if you’ve got Graduate and Graduate Plus federal loans. you most likely carry out if you graduated with a pharmacy degree.

Each and every time yet another individual financial institution jumped upwards in my Twitter supply, I would eagerly remark the newest deets. I found an abundance of companies and plenty of plans one checked attractive. However, something usually eliminated myself regarding refinancing: Diminished autonomy.