This website has already discussed a number of ways that individuals can save money while paying off student loans. Indeed, student debt borrowers can institute a number of strategies to cut expenses so that the most money possible can be devoted to paying down debt. Bartering while paying off student loans is another excellent way to save money.
As many people already know, bartering involves exchanging goods or services for the goods or services offered by another without using money. Such a system allows individuals to obtain products or services that they need without tapping into their savings. During my student debt repayment saga, I perfected the art of bartering while paying off student loans.
One of my biggest resources while bartering while paying off student loans were my brothers. My four brothers are all involved in various different fields, and we would all help each other out so we did not need to unnecessarily spend money on goods or services one of us could provide. For instance, one of my brother works in the restaurant industry, and this was a huge resource when I was trying to save money.
While I was still in school, my brother owned a restaurant, and he would let me help him out with a number of tasks. My brother would pay me for this work with free food and a place to live during my breaks in school. I really liked being around the restaurant, so it was great to have this arrangement with my brother.
After I graduated from school and began working as a lawyer, my brother sold his burger joint and started working at a chain restaurant. As he moved up the ranks at this restaurant, my brother occasionally gave me gift cards and other merchandise related to the restaurant. In total, this amounted to hundreds of dollars of free food and other merchandise.
In exchange, I offered him legal advice whenever he needed it. Of course, legal matters come up in everyone’s lives, and I was more than happy to help him out in exchange for the assistance he provided to me. This arrangement shows that bartering while paying off student loans can save you money and maximize the amount of cash you have to pay off student debt.
I also bartered services with my other brothers while paying off student loans. For instance, I routinely received tax advice from one of my brothers in the financial field. In addition, my brother in the medical field also gave me medical advice a number of times. In exchange, I was more than happy to provide legal services whenever my brothers needed this help.
Of course, not everyone is as fortunate as I to have such helpful brothers. However, bartering while paying off student loans works with friends as well. For instance, during my student debt repayment saga, I did legal work for a number of friends and friends of friends. I usually did not ask or expect to be compensated for this work, I merely wanted to put a deposit in the “favor bank” in case I needed assistance at some later time.
However, many of the friends that I assisted compensated me in ways that impacted my bottom line. For instance, one my my friends gave me a $300 gift card to Amazon.com, and to a broke young attorney, this was an amazing windfall. In any case, bartering while paying off student loans is possible with friends as well as family.
I also assisted friends while paying off student loans, and these friends helped me out when I needed assistance myself. For instance, I would help my friends install and remove window air conditioner units every season. This is tough work, but I got so much experience doing this that I was able to install and remove an AC unit pretty quickly. In addition, since I am 6’9”, I was able to easily place the air conditioner units in crawl spaces and the like to the benefit of my friends.
I also assisted my friends in moving a few times. I am sure that everyone knows that moving is a horrible process. Not only is it stressful and tiring, but things almost always break while moving. However, it is much easier to move if you can get a group people to help you with the task. I routinely helped people move as a student and during my student debt repayment saga. I don’t think I was particularly good at the moving process, but an extra set of hands was always welcome.
In return, I received help moving a number of times as a student and as a young professional. This saved me a ton of money. In my area, it is not unusual for movers to charge over a hundred dollars an hour for their services. By doing more of the work yourself, it is possible to reduce costs associated with moving.
In the end, bartering while paying off student loans can be an effective means to save money. In addition, bartering can be a solid way to make new friends and to extend your social connections. It is always great to interact with people in your community, and sometimes the bartering process can be fun and rewarding. In any case, it is extremely important to save as much money as possible while paying off student loans, and bartering goods or services can help you achieve your student debt repayment goals.