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Why I Prefer To Pay Off Debt Aggressively

Anyone with debt and a decent cash flow will eventually find themselves with a choice. What should be done with all of that excess money? Assuming your goal isn’t to spend it all on buying things, you’re basically left with two choices. Pay off your debt aggressively. Or invest the surplus.

The pure mathematical answer is to play the interest rate arbitrage game. Excess money should go into assets that provide a rate of return higher than whatever interest rate your debt is at. It’s a pretty simple calculation from that vantage point…

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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 Bike share 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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