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Month: October 2016

Do You Know How Much Your Debt Costs You Per Day?

One of the things that surprised me when I began my student loan payback journey was how much interest I had to pay when I started making my payments. What was even more surprising to me was how much interest my loans had accrued while I was in school (and making no money). In fact, when I graduated and made my first student loan payment, it didn’t even reduce my student loan balance at all. All of it went directly towards the interest!

Interest is one of those things that we all sort of understand in theory. Most of us basically know that when we borrow money, we agree to pay it back at some point, with a little extra on top. But I don’t think we’re very good at really understanding what interest looks like on a daily basis. Maybe that’s why we sometimes let debt linger in our lives…

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Why Bikeshare Systems Are The Best Form Of Public Transit

Every personal finance nerd knows that biking is one of the best modes of transportation out there. In addition to just being fun to do, you also get three things from biking that you really can’t get from any other mode of transportation – speed in getting from place to place, huge cost savings, and, of course, health benefits from actually using your own body power to propel yourself forward. And I didn’t even mention the awesome feeling you get when you zoom past a bunch of cars that are stuck in traffic!

One of the best pieces of technology in the past few years has been the emergence of the bikeshare system…

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My Postmates Side Hustle: Getting Paid To Bike Around Town

I remember when my brother first told me about a new app he’d found called Postmates. He’d just returned home to the US after living overseas for a few years and didn’t have a job. So, in order to make a bit of cash while he was job hunting, he picked up a side gig as a Postmates courier, delivering food for people around the city.

Here was my brother, a college educated, smart, hard working millennial…working as a delivery man. He was really putting that college degree to use…

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The Only Secret To Paying Off Debt Is To Be A Weirdo

One of the things I always tell people about debt is that there isn’t any secret to paying it off quickly. There’s no magic method that will make your debt disappear. No secret tricks that will crush your loans any faster. And you probably shouldn’t count on someone else paying your debt off for you.

In the end, paying off debt really just comes down to a single basic principle. Live on less than you earn and use what’s left over to pay off your debt. The more you have left over to pay towards your debt, the faster it’ll be gone. It’s basically that simple…

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A Breakdown Of How I Paid Off $87,000 Of Student Loans In 2.5 Years

One of the best things I did coming out of law school was to pay off my student loans as fast as I could. Doing this gave me a ton of flexibility in the type of money I had to earn. With my loans gone, I didn’t need to work in a job earning a certain amount of money, all so that a portion of it could go out the door to some student loan company. And I could rest easy at night knowing that I didn’t have to keep paying for a piece of paper I had earned years ago!

Interestingly, even though I knew how much in student loans I had paid off, I had never actually looked at what I had paid over those 2.5 years.

I thought it might be an interesting trip down memory lane to see this information. So a few weeks ago, I requested my payment history from my student loan servicing companies and took a look…

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