How to Deal with College Debt

Ahhhh. College! One of the greatest, and most expensive, times of our lives. It was filled with so many life-changing moments, educational progress, and friendships that will last a lifetime… Now let’s hope our debt doesn’t last a lifetime.

Maybe you didn’t have any help paying for college, or your scholarships didn’t cover enough. 43 million Americans currently have a Federal Student Loan, meaning you are in good company.

But you are also joining the journey of trying to navigate life with debt. Here are just a few easy ways to change up some of your habits, helping you achieve a life closer and closer to being debt-free!

Cut Expensive Smoking Habits

Alright, let’s be real. College was fun, but we may have picked up some habits we aren’t quite proud of, we’re looking at you 2 am fast food goer.

If you happen to have picked up smoking cigarettes and have continued that habit to help relieve your stress, now might be the time to switch to something made to relax you, is less addictive, and is easier on your wallet. CBDfx makes the best CBD vape kit that is cruelty-free, made in the USA, and has a 30-day guarantee. This product will definitely help to take the edge off of quitting cigarettes, and will help you to stay focused on your financial goals.

Put Money Into Savings Every Month

Paying off debt is only one of the things to do with your money, but you have to have some first. One of the best ways to save money is to use a savings account with auto-transfer.

Even if you save only $5/week, that is $260 at the end of the year! That can be put toward your balance, lowering your overall debt. If you are the type of person that uses cash daily or you are a more visual person, this savings shadow box will help you see if you are staying on track. Either way, make putting money away a priority.

Pick Up Cooking Instead of Going Out

We love late-night drive-through trips as much as the next person, but eating out is a sure-fire way to rack up your spending. Now that you are out of college, it may be time to learn how to cook something else besides ramen. YouTube will be your friend in the coming months.

There are tutorials that can help you learn how to make anything from bread, to pasta, to smoothies. If you have a birthday coming up, don’t be afraid to ask for a recipe book! Tasty has so many recipes to try, and videos to follow along with. You’ll be saving money and upping your cooking game in no time. *chef’s kiss*

Cancel Subscriptions- or Share with Others

If you are still on your parents’ Netflix account, congratulations! If you aren’t, now might be the time to consider getting rid of it and other unnecessary streaming sites.

The Office is leaving Netflix in 2021 anyway, so why do we even need to keep it? It is an easy way to save money each month. But we guess if you must keep them, consider splitting it with your friends! You take care of Netflix, your bestie takes care of Hulu, and you ask your parents very nicely for their HBO Max Login.

Don’t Be Afraid to Shop Secondhand

Thrifting is an easy way to buy something new, for a fraction of the price. There are places like Goodwill, Salvation Army, Buffalo Exchange, etc. Those are effective places for clothing updates and other smaller items. But if you are looking for more particular items, search places like Facebook Marketplace, Craigslist, or OfferUp.

Those are also great sites to maybe get rid of some of the stuff you are no longer using!

Final Thoughts

Getting rid of debt is a slow and steady race to the finish. It isn’t going to happen overnight, so be patient with yourself. Know that even dealing with it in small increments, is a great step toward financial freedom.

Josh founded Money Buffalo in 2015 to help people get out of debt and make smart financial decisions. He is currently a full-time personal finance writer with work featured in Forbes Advisor, Fox Business, and Credible.