Step 1: Knowledge is Power: Understand Your Loans
Gather information about interest rates, repayment terms, & loan types. Knowing what you owe is important.
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Step 2: Create a Budget and Stick to It
Track your income & expenses to identify areas you can cut back & allocate more funds towards loans.
Step 3: Pay More Than the Minimum
Pay more than minimum monthly payment. It will go directly toward reducing your principal balance, save interest.
Step 4:
Side Hustles and Extra Income
Increase your income by side hustles or freelance work. Additional income can significantly impact your loans faster.
Step 5: Believe in Your Ability to Achieve Financial Freedom
Stay focused on your goals, believe in your ability to achieve financial freedom, and take one step at a time.