Today I’m going through my student loan debt pay off strategy and kicking off my debt free journey. I’ll be looking at the exact amounts I owe in student loans, why I want to pay them off now, and how I am using my annual budget to determine how much I can realistically pay each month while still saving for my financial goals and unexpected expenses. Finally, we end with making my first payment.
Thank you for watching. If you enjoyed this video and would like to see more content like this, consider liking the video and subscribing to follow my financial freedom journey.
Resources / Links Mentioned
Try YNAB 34 Days Free! https://ynab.com/referral/?ref=NGjR9aw384rLUfFn
If you would like, you can support my channel by buying me a Coffee. Any support will go towards paying off my student loans buymeacoffee.com/averysmoneymoves
Follow me on instagram: https://www.instagram.com/averys.money.moves
Email Inquiries: averysmoneymoves@gmail.com
Videos / Channels Mentioned:
My New Budget for 2025: https://youtu.be/z8ESackGTU4?si=C1ky6oM4bcW8DLIQ
https://www.youtube.com/@laurensmoneymindset Budget Spreadsheet: https://www.etsy.com/listing/1031721868/budget-spreadsheet?click_key=c2c52960388acf4c0598098de1c63e60adbda5f2%3A1031721868&click_sum=140bfb16&ref=shop_home_active_7
Chapters:
Intro: 0:00
How much I owe + Why pay off my loans now?: 1:04
Using my annual budget to determine the amount I can pay each month: 8:11
Making a payment!!: 23:11
A little about me:
My name is Avery, I’m 26 years old and I live in Ohio. I make a gross salary of $60k a year and have $18.5k in student loan debt. My channel is all about my financial freedom journey, going from a low income childhood to a (hopefully) financially prosperous adulthood.
tags:
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I forgot to mention that Nathan (my partner) will be covering Cece's (our dog) expenses so I have more money available to put towards my loans!! Whoops ??????so thank you Nathan ????
Thank you for watching. If you enjoyed this video and would like to see more content like this, consider liking the video and subscribing to follow my financial freedom journey. ????
Resources / Links Mentioned
Try YNAB 34 Days Free! https://ynab.com/referral/?ref=NGjR9a...
If you would like, you can support my channel by buying me a Coffee. Any support will go towards paying off my student loans ???? buymeacoffee.com/averysmoneymoves
My New Budget for 2025 Video: https://www.youtube.com/watch?v=z8ESackGTU4&t=4207s
Lauren Miller's Budget Spreadsheet: https://www.etsy.com/listing/10317218...
Chapters:
Intro: 0:00
How much I owe + Why pay off my loans now?: 1:04
Using my annual budget to determine the amount I can pay each month: 8:11
Making a payment!!: 23:11
You’ve got a great plan! I think there’s a lot of balance between debt payoff, savings and quality of life. I wanted to switch to SAVE but I wanted to wait because my income based payment is $0 and now I’m on PAYE since it’s the next best thing for me. I shooting for the 20 year forgiveness plan under PAYE since I don’t work for a PSLF employer
You’ve got a great plan! I think there’s a lot of balance between debt payoff, savings and quality of life. I wanted to switch to SAVE but I wanted to wait because my income based payment is $0 and now I’m on PAYE since it’s the next best thing for me. I shooting for the 20 year forgiveness plan under PAYE since I don’t work for a PSLF employer
Thank you for sharing! It was helpful to see your annual budget, and I’ve been thinking about how to utilize an annual budget for myself, so I think I’ll be buying the spreadsheet too!
Can’t wait to see you knock out these loans! I love that you plan to be aggressive while still living life a little (and investing ????????).
I love your annual budget. I keep meaning to do one, but always feel overwhelmed by it. Maybe I’ll try it out ????
Great job, I love the yearly view and how you're being dynamic with your money instead of trying to set aside a set amount each month!
Thank you for sharing your journey Avery… Student loans stink glad to be paying them off along with you!
Have you looked at public service loan forgiveness? You could pay income driven repayment and pay little to nothing and invest the difference.
I'm so excited to see you embark on your student loan payoff journey!!
Nice to see your plan, I look forward to continuing to see your progress! Since you mention working in the public sector, I’m curious if you might be eligible for public service loan forgiveness? I imagine you already know that you aren’t if you’re paying them off, just a thought that came to mind. Keep up the great work! ????