"A burden off my mind"
How I did it
In the UK, the student loan is deducted directly from your salary every month - so it is basically gone before you even realise you had it!
I finally paid off the the student loan last month, and I noticed a difference in my paycheck this month - it is a great feeling!
I haven't been able to save much while I was paying this off, but now I am going to save all the additional money I had been paying towards my loan. If I set up a direct debit when I get paid, I will have the same amount of money as before, but my savings will be growing.
In the UK, the student loan is deducted directly from your salary every month - so it is basically gone before you even realise you had it!
I finally paid off the the student loan last month, and I noticed a difference in my paycheck this month - it is a great feeling!
I haven't been able to save much while I was paying this off, but now I am going to save all the additional money I had been paying towards my loan. If I set up a direct debit when I get paid, I will have the same amount of money as before, but my savings will be growing.
Tips & Advice
Set up automatic repayment systems (like standing order) around the time you get paid - this means you don't need to think about the debt, and the money has left your account before you have a chance to spend it! Make sure you leave enough to cover the basics!
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Done this
Pay off my debt
I have a fair amount of financial debt from Uni - overdrafts, credit cards and my student loan.
I want to pay off my student debt - I'm don't want it hanging around.
I am going to pay it off, starting with the highest interest debt - credit card, then overdraft then my student loan.
I am really looking forward to paying this off and getting on with saving!
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