Studying becomes more expensive every year, and with that the average student debt also increases. But how do you pay it off?
Student debt
You would rather not have any debts of course, but sometimes you have no choice. For example, if you can work less because you are in school, you have to buy expensive books or because you cannot pay the tuition fees otherwise. It sometimes seems impossible to pay off this debt quickly, but that is certainly not the case. This is how you get rid of a student debt as quickly as possible.
1. Every month
Pay something off each month, whether it’s twenty euros or five hundred. Every little bit helps, as long as you get closer to zero euros. If you postpone this, nothing will come of it, so it’s better to pay off a small amount.
2. First income
Don’t wait to pay off your debt when you have a better job, but start as soon as you have income. Better jobs don’t come as quickly as you might think, and putting them off only adds to your stress. And you might earn more later, but your fixed costs will only increase. It’s never convenient to pay off debt, so you might as well start as soon as possible.
3. Reminders
Whether you create it as a reminder in your phone or hang letters from DUO in your room: set reminders to remind you of your debts. It will be a bit stressful at first, but that is exactly why you will not forget your debt and will want to do more about it. do to make these reminders and letters disappear. It will motivate you to pay off your debts faster, so do you want to get rid of your student debt? Then try this tip.
4. Reward
When you have a large debt, it can sometimes seem endless until you finally pay it off. Therefore, divide the amount into parts, and reward yourself after each part that you have paid off. For example, are you rid of the first two thousand euros? Treat yourself to a nice cake or a nice bottle of wine.
5. Fixed costs
Paying off your student debt can easily be counted as a fixed expense. If you pay off the same amount every month, you can take this into account in your finances. Think of it as a kind of rent: you also pay a fixed amount for this every month. This is also possible with a student debt: paying off the same amount every month can be more manageable.
