Every mom wants to know her kids are exceeding in life and one measure of success is being successful with your finances. It was a great feeling for Tish and I to call our moms and tell them we paid off our student loans and then call and tell them we were completely debt free! We could feel the excitement across the phone and it was such a great feeling to make our moms proud. So how do you pay off our student loans early so you don’t end up like the old man in the picture above? [Read more…] about What does every Mom want?
Many believe student loans are only a problem for college age students but after reading a report from the Consumer Financial Protection Bureau we’ve determined student loans are becoming a big issue for Americans over the age of 60. According to the CFPB report entitled Snapshot of older consumers and student loan debt the number of consumers age 60 and older with outstanding student loan debt quadrupled from 2005 to 2015. These 60 and older Americans in 2015 had on average $23,500 in student loan debt compared to an average of $12,100 in 2005. In total, Americans over the age of 60 owed $66.7 billion in outstanding student loans in 2015.
What might surprise you is most of these student loans are not [Read more…] about Over 60 and student loans
At E3 Financial Coaching we love helping people eliminate debt from their life. We have seen in our own life and many of our client’s lives how the weight of debt prevents you from reaching your financial goals. 4 out of 10 Americans with debt spend half of their income on servicing their debt. That is a lot of money to give to someone else. Yes we said “give” to someone else. Image if you could eliminate your debt and keep the money your paying in interest each month for yourself. How quickly could you reach your financial goals?
When providing financial coaching we show people how to use the debt snowball technique to eliminate their debt. E3 Financial Coaching teaches our clients to pay off their smallest debt amount first not the largest interest rate debt first. Our clients always ask, why would I do that when I’m paying more interest on the higher interest rate? The answer is simple; [Read more…] about Why pay off your smallest debt balance first