Came across this interesting blogpost on Daily Infographics, it caught my attention primarily because I felt my book Millionomics: My Journey to Gaining Financial Freedom truly touches on all of these and other major smart savings strategies that I adopted in my life. It can be a valuable read for young professionals. As the article states too, Young people always want to be hip with the latest tech gadgets, but unfortunately we are also the age group with the least money and the most college debt. The goal of today’s infographic is to help you find a happy medium that allows you to maintain your lifestyle while saving you money. The American Institute of CPAs and the Ad Council created this Infographic as part of its national public service campaign, Feed the Pig to encourage millennials ages 25-34 to take control of their finances and make saving money a part of their daily lifestyle.
For starters, I’ve found that slashing cable and sticking with Netflix or some cheap web streaming service is a great way to save. I also love cooking my own food, I find it relaxing and its good to know exactly what I’m eating. Outside of phones, TV, and food, there is a lot of room to save in my opinion. Simply cutting out unnecessary items and being more frugal with your spending can produce results. Before I buy ‘wants’, I think about how badly I want it and how long it will last. A lot of money can be saved just by buying the right brand of a product. Good quality and cheap maintenance can save you tons in many products (cars, electronics, household appliances). Stay smart, save money: Take a sneak peak at this book and see what the most favorable and the most critical reviewers are saying about this book.
Student loans are inevitable to manage the cost of education in the present social and economic conditions. Scholarships are the most appreciated tool for the student financial assistance. However every student will not be able to procure the scholarships. Student loans are the better alternative solutions to meet the education expenditure. The student loans are recommended as the education aid since they are structured especially to cater the specific needs of the students such as repayment has to be started only after the completion of education and a specific grace period and so on. Moreover the interest rates of the student loans are better, in comparison to any other loans including personal loans or secured personal loans. Anyway, the thorough understanding of the application procedure is essential to procure the best student loan as most of the loans are time bound. The following 10 hints will help you to have an idea about getting a student loan.
Student loan is available from federal governments as well as private lenders. The federal loans are preferred because of its unique advantages. However in many cases, it will not be satisfactory to meet all the living expenditures and the private student loan is used as a bridge to meet the additional requirements.
Federal loans are provided on the basis of the need of the student. The federal Stanford loan is available in subsidized and unsubsidized versions. In case of subsidized loans the government will repay the debits. To resource the complete benefits you must be able to prove the essentiality of the assistance.
To apply for the federal loan, the student must qualify the essential qualification such as a high school diploma or a General Education Development (GED) certificate. The application must include all the supporting documents to substantiate the need of the loan.
The character and conduct of the student is very important in the federal assistance approval and they insist that any charge of conviction about drug abuse is intolerable.
The federal loans can be applied electronically through the online submission of Free Application for Federal Student Aid (FAFSA) form. The most important thing regarding the federal loans is to apply it before the last date as late filing will lead to unnecessary confusions and delay in the loan approval.
In case of undergraduate students, parents can apply for the particular low interest rate Federal Parent Loan for Undergraduate Students, which is often called as PLUS.
The private loans are provided by the private lenders and most of them obviously have higher rates than federal rates. However, they act as unsecured personal loans, which can be used specifically for education.
The credit will be on the basis of the private loan approval. The availability of a co-signer, who has a good credit score, will help to gain the most competitive rates for the loan.
Irrespective of the type of loan, the student must be aware about the attributes of the loan such as the rates and repayment formalities before signing the agreement.
However do not be worried about the repayment of multiple loans. If you are unable to manage all the loans, you can opt for a low rate student debt consolidation at the beginning of the of the loan repayment, after the course completion and grace period.