frugality Archives - Page 5 of 12 - Student Debt Diaries

Professionals with the Worst Student Debt Burdens

August 3, 2020August 3, 2020 Jordan RothmanChoosing Schools, Repayment Strategies

Many people believe that if they borrow money to enter a profession, they will be able to earn enough cash to quickly pay off any educational debt. It is true that more-educated individuals typically earn more money, but not everyone in each profession earns an equally high sum of money. In addition, the amount of debt that people borrow to enter certain professions can be extremely challenging for many individuals. In any case, professionals with… Continue Reading Professionals with the Worst Student Debt Burdens

Investing Emergency Fund Money

July 27, 2020July 27, 2020 Jordan RothmanEarning Extra Money, Saving Money

As this website has already discussed in several prior articles, all student debt borrowers should have an emergency fund if they have the resources to build up savings. Emergency funds are important if people lose their jobs, face medical problems, or encounter other life issues. Although it might be safest to keep emergency funds in cash, investing emergency fund money is advisable in a number of circumstances. As mentioned in prior articles, I had an… Continue Reading Investing Emergency Fund Money

Saving Money While Applying to Law Schools

July 20, 2020 Jordan RothmanSaving Money

As many people already know, applying to law schools can be an expensive process. Applicants generally need to pay a hefty sum in application fees and test score fees for each school to which they apply, and this can add up depending on how many schools an applicant considers. Also, applicants need to pay seat deposit fees to at least one school in order to secure a place in an incoming class. However, saving money… Continue Reading Saving Money While Applying to Law Schools

Pay it Forward After Repaying Student Loans

July 6, 2020 Jordan RothmanRepayment Strategies

When student debt borrowers are repaying student loans, it may be difficult to think about what it will be like when all of your debt is paid off. Indeed, paying off student loans may seem like an impossible task that requires years of dedication in order to accomplish. However, if you stay focused and follow the advice on this website, you should be able to pay off your student loans within a reasonable amount of… Continue Reading Pay it Forward After Repaying Student Loans

How Much You Should Save in a 529 Plan

June 29, 2020 Jordan RothmanAdvice for Parents

This website has previously discussed how parents can save money in a tax-advantaged 529 account for their kids’ educational expenses. Indeed, a previous article noted how anyone can make a contribution to a 529 account, and this could be a good substitute for giving gifts to a child. Although there are many opinions on the internet about saving goals for 529s, there are a few things you should keep in mind when evaluating how much… Continue Reading How Much You Should Save in a 529 Plan

Living in a Dorm is Worth the Money

June 22, 2020June 22, 2020 Jordan RothmanAdvice for Parents, Saving Money

Most college students live in residence halls on campus for at least the first year or two of their studies. It is usually thought that dorm life is preferable for students starting their college careers so that they can meet people and have easy access to dining halls and other campus facilities. Of course, living on campus is often more expensive than most off-campus living options, and the amenities of on-campus living are often limited.… Continue Reading Living in a Dorm is Worth the Money

Saving Money While Searching for Jobs

May 25, 2020 Jordan RothmanSaving Money

The ongoing COVID-19 pandemic has had an extremely negative effect on the economy, and has had an especially disruptive impact on the job market. Indeed, millions of people have lost their jobs over the past few months, and the current unemployment rate has not been seen in many decades. Because of the economic climate, many people are currently hunting for jobs, but it can be difficult to search for jobs while saving money, especially if… Continue Reading Saving Money While Searching for Jobs

Saving Money While Studying for the Bar

May 18, 2020May 18, 2020 Jordan RothmanSaving Money

As I can attest to from personal experience, law school is insanely expensive. Indeed, law students typically need to spend hundreds of thousands of dollars on tuition costs, books, housing expenses and other fees to earn a law degree. However, even after graduating from law school, attorneys-to-be need to spend even more money to pay for course materials and living costs in order to prepare for the bar exam. However, by keeping a few things… Continue Reading Saving Money While Studying for the Bar

Asking Colleges for Refunds Because of COVID-19

May 4, 2020May 4, 2020 Jordan RothmanChoosing Schools, Repayment Strategies

Almost everyone in the United States has been impacted by COVID-19. Indeed, many people know someone who has been ill with the disease, and millions of Americans have lost their jobs because of the current economic downturn. College students have also been negatively impacted by the ongoing pandemic, since almost every college campus is currently closed, and classes have moved online. In light of the current environment, asking colleges for refunds because of COVID-19 seems… Continue Reading Asking Colleges for Refunds Because of COVID-19

Dealing With Salary Cuts Because of COVID-19

April 27, 2020 Jordan RothmanEarning Extra Money, Saving Money

This website has already posted a number of articles about how student debt borrowers and the population at large have been impacted by COVID-19. Indeed, many people have been laid off or furloughed, and this has impacted their ability to pay off student debt and cover their living expenses. Many people have also had their income decreased because of the ongoing pandemic, and dealing with salary cuts because of COVID-19 can be easier if you… Continue Reading Dealing With Salary Cuts Because of COVID-19