I recently graduated this year in May with a Culinary Arts degree. I landed a cook position at a new hotel/restaurant downtown in Portland, Maine. New place in all and finally graduated it was time to work in the field in which I studied in college to put the knowledge into good use. Months went by, one night I thought about paying off my student loan but the thought of it made me cringe ever so slightly. Who wants to start budgeting their finances to pay off student loans? Not this girl but I had to do it anyway. Not just for bragging rights but for my credit in the future. Good credit is better than bad credit.
So I started calculated my earnings on how much I received in my pay checks and max my payments as much as I could afford to pay them week to week, not month to month. I figured if I paid larger amounts from my earnings, I can pay off my loan in less than six months. In fact, I did. All of the bickering, the frugal comments, the budgeting and everything that you could ever imagine with money saving situations I finally paid off my student loans! Living with my significant other who supported me and help manage to take good care of me so I can pay off my loans every week, he is amazing! I don't think I could have EVER completed this accomplishment without my boyfriend by my side.
Working as much hours as I can take. Working overtime and completing odd jobs were not easy. A decision I made one night after I was about two weeks to go on my loan payments. I decided to go back to college and work in a career which will benefit my future in a financially stable future. After I paid off my student loans, I learned that the restaurant industry was not truly for me. I stopped fighting for it. The struggle, the drama, the chance of getting laid off is not for me.
Now I major in Business Administration. Still budget my life but not in a frugal sense as I did before with no more student loans or any loans in that matter to think about anymore. Best part about all of this, I learned and gained so much now I am taking control of my finances for the future. Trust me, I have a lot of fun! There is money in my pocket now, than six months ago.
One day when I retire I'd like to move in a warm location and live on the beach inside a condominium...