Helpful Tips To Use When #StudentLoanBroke

by Danna


Posted on 03/14/2019


Snzkaym

Getting your student loans back on track is one of the most important steps to achieving financial freedom. However, during this time you also have to juggle managing your finances, because L I F E. Who says you can’t do both & be balling on a budget? We’ve got you covered!


Create an emergency fund

55 Million Americans don’t have emergency savings. This could set you back in a major way & cause you to fall back into debt. Try to set a reasonable goal as to how much you can put away, weekly, bi-weekly, or monthly. Make it realistic to your budget & hold yourself accountable to not only add to the fund, but to make sure you don’t spend what is in it. Unless of course, in case of emergencies. Start small. If you make less than $20k per year, put aside $500. More than $20k per year, set aside $1,000. Once you can master this, you eventually want to save up 3-6 months worth of expenses.


Get In The Kitchen

Eating out adds up, F A S T. Have fun making new or family recipes at home. Invite friends over, search Pinterest & choose something new to try! Not only will you have fun doing this and probably eat a healthier homemade meal, but your wallet will thank you. Take it a step further & create your own at home bar. Rounds on the house will cost you a lot less than ordering a round for everyone at the bar. Even better, you can crash in the comfort of your own home & save money not having to call an Uber or Lyft!


Cancel Your Gym Membership

Let’s be real here. Some of us are dedicated to the #gymlife. While most of us are quick to say, “I’ll go tomorrow” and tomorrow never comes. If you feel you aren’t putting your membership to good use, cancel it. This also doesn’t mean you can’t still live an active lifestyle. You can find weights, ropes, etc. at a very affordable price at stores like Amazon, Ross, TJ Maxx & more. Create your own gym at home. You can also find great workouts on Youtube to try out. You can get your cardio fix by running outdoors at your local park or neighborhood. No membership required!


Make Comparison Shopping Your Best Friend

Do your research before making a purchase. Chances of finding what you are looking for at a better price is very likely. Not to mention, most retail stores offer “price match”. Each store has a list of competitors they will agree to price match, if you find the item at a lower price. Don’t be afraid to check out the sale/clearance section in-store or online. Something you had your eye on 2-3 months ago, maybe even less now!


Rewards Programs

Almost every store, restaurant & fast food place has some kind of rewards program. Even banks/credit card companies! You can save money by signing up for these programs & get returns on the purchases you make, freebies, & discount promos. Even better, most places will hook you up on your birthday!



Sell, sell, sell!

Need to declutter? Do you have clothes & items collecting dust in your closet? One person's trash is definitely another person's treasure. There are so many apps now that make selling online extremely easy. Try Letgo,  OfferUp, or Craigslist & watch the offers pour in!



Search Engine Hack

Another great online tool that comes in handy to save money is by searching the words “promo code” “coupon” or “discount code”. Sites like RetailMeNot will show you how often a code was used, the last time used, & whether or not the user had success in getting a discount.