Eventually, something changed in me. I was about to azing, beautiful, super-fun, and kick-ass wife (see picture). I desired to get my personal crap along 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 would like information, current email address myself within ). These books literally changed my life. I studied. I applied. I moved into a smaller apartment. I sold my car and started biking www.tennesseetitleloans.org/cities/lawrenceburg/ to work. I even got creative and took out a 15-month interest-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 can do together with your earnings.

My partner and i stayed extremely frugally in my PGY1, thriving almost entirely off of the girl salary and you will getting my salary on the my personal loans. Nevertheless the reality is that we nevertheless got over $100k commit. And you will we have extra home financing, senior years savings, and an ever growing nearest and dearest to the financial photo.

While the I have finished in 2013, we’ve generated a ton of improvements to my student loans

At the peak of my loans (I graduated with just over $200k), I was paying over $26 in interest each day. I calculated that as a resident, the first cuatro days out-of my collect salary would be given straight to the bank just to pay the interest on my loans.

Stop another and you can consider you to definitely. Each day, actually to shop for a cup of coffee from the bistro regarding the medical where I worked do start me personally in the bad $30 on the day. ahead of You will find obtained some thing.

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 “We’ve to behave from 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.

But that doesn’t mean I am not saying going to do everything for the my personal power to save money and relieve the fresh economic load towards the my children.

Cutting your Student loan Load

Reducing the desire on the student loan saves you a ton of cash. both in your own payment as well as in extent your spend along side label of your own 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. which you most likely would if you graduated with a pharmacy degree.

Each and every time a special private lender jumped right up within my Myspace feed, I would eagerly review the newest deets. I came across a number of companies and plenty of agreements one to featured attractive. However, one thing usually avoided myself out-of refinancing: Shortage of flexibility.