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- My spouce and i aggressively paid down regarding $80,000 into the college loans from inside the pandemic.
- We might was indeed better off expenses that money throughout the coming and you may paying back a smaller amount.
- We fell on the pitfall from demonizing financial obligation, and i also overlooked on a lot of great options once the an end result.
From inside the pandemic, my spouce and i decided to enjoy the beginner financing fee stop to pay off their over $110,000 inside student education loans. I performed which with a mix of extreme Dave-Ramsey-tasting cost management and you will decreasing extremely invites to help you drinks, coffees, and you can edibles.
At first, we think we had been successful: We had paid more than $80,000 ones because of the start of 2023. But then I had some realizations one forced me to change my personal method of our very own profit. Regardless if I am pleased i have very couples figuratively speaking to help you pay back, section of me personally regrets sinking a great deal time toward paying down a balance which had been not expanding, accruing interest, or while making me personally any money right back. Here are around three things I would did in different ways.
$80,000 could have went a long way for all of us on the housing market.