Saturday, December 17, 2016


Hey loves,
I am like on cloud nine right now.

This was a long time coming.
I requested on the 5th of November for my loan to be processed for the 7th of November and now the loan is 100% cleared!!

I've received my PAID IN FULL letter on the 29th of November!!!

It took me about 3 in a half years to pay my loan off,

 42 months to be exact!

So glad it is done, Thank You God!

So How did I do it? How did I pay off my student loan in about 3 in a half years?
Well one (1) I strategized, two (2) I worked extra hard, and three (3) I budgeted and made spending sacrifices these last couple of months. I had a $7500 loan so it wasn't that much to pay off however, it was still a burden on me. I worked hard to pay it off and the blessing is; I was able to do it on a part-time budget.

Number 1: The Strategy,

I began paying on my loan during the grace period to knock down the principal balance. By paying during the grace period, the loan readjusted to the new balance of  $6974.30. Once the interest kicked in I began paying monthly; and then twice a month once I was financially able to do so. The reason why I paid twice a month was that I could pay less on interest and more on the principal balance.

When I got a little more stable at my job and got on a consistent schedule I was able plan to and pay more on my loan. I put $400 a month, $200 every paycheck, on the loan and then when I got it down to a reasonable number that I could afford, I paid off the rest with some of the money I was saving for a rainy day.


My mother assisted twice; she paid about $200 min -$250 max to my loan. Although my mother occasionally paid what she could to my loan this was my responsibility so I really depended on myself to pay it off. She also wanted me to have this experience and learn from it. I am grateful for the lesson because it was very rewarding.

Thanks mom!

Number 2: Working Hard,

I worked extra hard to pay off this loan. I made a lot of sacrifices as well to pay off this burden. I didn't shop a lot, go out as much, and I didn't do too many professional acting gigs. I put work in the forefront to pay this burden off.

My job allowed for me to take on more hours and create a more stable schedule so I did so and I began budgeting and saving. I worked more and hung-out less. Changing my schedule around allowed for me to put $400 a month towards my loan. As well as save my money and pay my bills. Saving was very important to me because I needed to make sure if anything were to happen I would have a safety-net to fall on.

That's Where Budgeting Comes In. 

Number 3: Budgeting

Earlier in the year, I started to strategize on paying off my loan in Feb. of 2017. Which is why I started paying $400 a month on my loan. But by the grace of God, saving, and literally penny pinching I was able to pay it off sooner than I expected.                           
 November 7, 2016.
                                          I OFFICIALLY PAID OFF MY STUDENT LOAN!!!

I set everything up so that my paychecks were split. A small portion was automatically set-up to go into my savings and the rest in my checking. I based life around my checking. I could not touch my savings. Then I'd set aside the money for the loan, rent, and me with what was left. Whatever was left after that I left for emergencies. My trips, I would budget in, in advance. That way I could plan when and where I wanted to go, get the flights and rooms at a cheaper price, and map out how much spending money I could save by the time of the trip.

 I'll do a post on how I travel on a budget one day...

Mind you I had a part-time job so that was a lot. The entire Summer I didn't shop for clothes. The last time I've gotten anything new was when I treated my mom to the Mall of America in May and that wasn't a whole lot. So I was not able to go Summer shopping. I brought lunch to work instead of eating out. I even gave myself a small budget on how much groceries I could buy. I made sure to eat healthy by making salads for lunch. I was not about to be tight on money and eating unhealthily. 

I shopped with the mindset of what I needed...

Living at home also helped me save and pay my loan off and travel. Don't get me wrong, I still had bills to pay and things to pay for. I just learned how to really budget it all. I kept in mind that my loan came first and everything else was second. Financial-wise. This is how I made decisions. It may be extreme for you but it worked for me and look at me now.


Having a loan really taught me the difference between a need and a want. I would only make necessary purchases. How I deciphered what was a necessary purchases was by asking the question "Do I need this now?" or making the statement "I really don't need this." This helped me to spend wisely. Although, occasionally I allowed myself tiny splurges here and there.


Now that that burden is gone; It's like a weight has been lifted off of my shoulders. I love my new found freedom. lol.  I can now live again. :)

Until Next Time,

Disclaimer: I am not a financial adviser or strategist. I am not telling you how you should pay off your loan(s) and/or debts. I am simply telling you my story on how I paid off my student loan. Please also keep in mind that I've combined three in a half year's of paying off my loan into a shortened blog post. 12/17/16-N.S.

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