How to take out $5,000 less in Student Loans (Part 2)

Scrabble LoanIn Part 1, we talked about Cutting Expenses. In Part 2 – SELL YOUR CRAP:

  1. Own a lot less stuff. Can you own 100 things or less? If not, maybe 288? Regardless, there is a season for owning things but everything you own takes time/energy and of course money AFTER you already own it. While you’re moving through the educational season of life, the less you own the better.
  2. Garage Sale. Craigslist is a giant 24/7 garage sale. You can buy or sell most things, all the time. Sell all your stuff, and on the odd chance you might need it back, if you look around you’ll see you can buy it used again – usually for the same or less than you sold your other stuff for.
  3. Sell the car! The average car payment is more than $400 per month. Everyone, say it all together: “Sell the car!”
  4. “Sell” a room in your apartment. Getting a roommate or finding a carpool partner are creative ways to cut down expenses without costing any money. Creative rethinking of needs and resources is the new consumerism.

It’s quite easy to save $5,000 by dramatically reducing what you own and replacing ownership with paying for things as needed (taxi instead of a car), borrowing (library), buying used, and refusing to replace something until its no longer useable.

There’s a lot of wisdom in the old depression era saying: Use it up, wear it out, make it do or do without.

3 thoughts on “How to take out $5,000 less in Student Loans (Part 2)

  1. Pingback: How to take out $5,000 less in Student Loans (Part 3) | Graduate Free

  2. Pingback: FOQs: Besides borrowing money, what are some other ways I can pay for school? | Graduate Free

  3. Pingback: Why are we here? | Graduate Free

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