A friend of mine lives under the shadow of a huge amount of debt. Six figures, I’m talking. All from graduate school. She makes a decent living now, but her monthly payments on her multiple loans suck nearly all her paycheck.
Here are 11 things she does to live with debt – and survive.
1. She has a simple phone, not a smart phone. Using Boost Mobile, she gets unlimited talk, text, and can check her email. But no web browsing. Plus, for every six months that she pays her bill on time, Boost lowers her monthly bill by $5. Her cell phone plan started out costing $50, but now she pays just $35 per month.
2. She lives in a cheap apartment. Instead of living in the city hub, she lives 30-45 minutes on the outskirts. It’s a safe, urban area that affords her many conveniences of city living, but her neighborhood is a far cry from a hot spot.
3. She doesn’t pay for a dedicated Internet connection. Instead, she checks which of her neighbors has an open connection that is strong enough to use.
4. She doesn’t own a car. Perks of living in a major metro area. To get to work, she takes the bus or rides her bike.
5. She hasn’t taken an international trip in years. When she goes on vacation, she usually goes to visit friends. She is luck to have friends with nice vacation retreats!
6. She takes hand me downs from friends and family. This gal never said no to clothes I stopped wearing!
7. She has a side job that boost her take home pay. I don’t envy her workload.
8. She rarely eats out and brings her lunch or dinner to work.
9. She haggles.
10. She shops at a nearby dollar store for home goods. I’m jealous of the classic white dishes she scored!
11. She doesn’t stress about when each payment for each loan (and there are lots of them) is due because she set up auto-pay early on. She pays the minimum on the low-interest loans, and makes bigger payments on the high interest loans. This way she is quickly paying off the loan that is costing her the most money!