3 Financial Bloggers that Will Help You Reduce Student DebtOct 20, 2017
Many Canadian students and past grads have one common goal: they want to reduce their student loan debt.
Student debt is a sore spot for many Canadians who may still be paying off their loans well into their thirties. For some, taking on student loans is unavoidable, but for others, they wish they’d borrowed less and worked during school to offset the costs.
One good way to learn how to tackle your own money issues is to read about the experiences of others. You’re not alone. Below, you’ll find some great advice from financial bloggers who have faced the same or similar financial challenges and come out ahead.
- Jessica Moorhouse
Jessica’s financial blog covers everything a millennial might need to know about taking control of your money. Learn how to pay down student loans, begin saving and investing, become an entrepreneur, travel on a budget and more. She also has some informative guest blog posts about how to graduate debt-free.
- Christine Drummond – The Wallet Diet
Christine outlines how she repaid $35,000 in student debt by living a minimalist lifestyle. She also gives tips about how to travel on a budget, cost-effective dates for broke couples, and everyday saving advice.
- Boomer & Echo
The blogs on this website cover a wide range of financial topics, addressing them from the perspective of two generations. Learn how quickly you should pay back student loans or how millennials can save up for emergencies using a few streams of income.
The effects of long-term debt
Carrying student loans for years can make it difficult to achieve important milestones such as marriage, starting a family, travelling or owning a home. It is equally important to manage consumer debt while paying down student loans or you may run into further financial trouble.
If you’re having trouble managing your student loan and could use some extra help, visit the government of Canada website and see whether you might qualify for the Repayment Assistance Plan. You may be able to reduce or defer your loan payments until you can resume your regular schedule. If you’ve been out of school for more than seven years, you can also speak to a debt professional and go over your debt repayment options.