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How to pay off my student loans by prufock

"Long and tiresome, but bit by bit it goes away."

How I did it: Basic snowflake process - every bit of extra money you get is added as an extra payment, while paying the minimum as a monthly automatic payment. It's great to see the digits drop off!

Lessons & tips: Pay only the minimums until you can fund a $500-1000 emergency fund. Then, start adding every bit you can as extra payments on your loan. If you ever dig into your emergency fund, build that back up again before putting extra payments on the loan. Always have that cushion.


2 people found this helpful
 

Jun 12, 2012, 07:53AM PDT | 1 comment | 9 cheers


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Jul 20, 2012, 02:32AM PDT


prufock has gotten 9 cheers on this entry.

 

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