1942: 5 Ways to Tackle Debt While Federal Student Loans Are Deferred by Kelly Sjostrom

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 29 June 2022

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Kelly Blodgett of Money Gal Coaching provides 5 ways to tackle debt while federal student loans are deferred Episode 1942: 5 Ways to Tackle Debt While Federal Student Loans Are Deferred by Kelly Sjostrom of Money Gal Coaching Before we can experience the freedom of building wealth, many of us have to remove the chains of debt. For Kelly Blodgett, she graduated with 60k in student loan debt. She faithfully made her school loan payment for 8 years. She was astonished at how little she had paid down during that time, so she decided to get aggressive and attack her debt. Over the next 20 months, she paid off the remaining $46,514.91 and now is a financial coach helping others to build a solid financial future through Money Gal Coaching. The original post is located here: https://www.moneygalcoaching.com/minimoneyblog/5-ways-to-tackle-debt-while-federal-student-loans-are-deferred Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	This is Optimal Finance Daily Episode 1942.
0:04.0	Five ways to tackle debt while federal student loans are deferred
0:08.1	by Kelly Herstrom of MoneyGalCoaching.com
0:12.0	and I'm your host and personal finance enthusiast, Diana Mariam.
0:16.2	Now let's get right to today's post and continue optimizing your life.
0:24.7	Five ways to tackle debt while federal student loans are deferred
0:28.6	by Kelly Herstrom of MoneyGalCoaching.com
0:33.3	Federal student loans have been deferred since March 2020.
0:37.4	That's two full years of your loans not accumulating interest.
0:41.7	If you haven't been tackling your debt head on, now is the time.
0:45.7	As jobs are restored and payments continue to be deferred,
0:49.5	you'll be able to make the debt in your debt that could change your life.
0:54.0	Here are five ways you can reduce your debt.
0:57.3	Number one, continue making payments.
1:00.9	Payments on federal student loans were initially paused
1:04.0	as we were facing the pandemic head on and millions of Americans lost their jobs
1:09.0	or were seeing a reduction in hours.
1:11.8	Now that employment is up, you should really look at your finances
1:15.5	to determine if you can afford to start making your monthly payments again,
1:19.5	even if they aren't required.
1:21.6	By making payments you're putting more of your money at work
1:25.0	since your loan isn't accruing interest each month.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Optimal Living Daily LLC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Optimal Living Daily LLC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.