Millennial making $36,000 a year pays off $23,000 in student loans in 10 months!
Like most Millennials, Jordan Arnold went to college, signed the student loan documents (“put off paying for another day”) and enjoyed college. Then, graduating, the first bill for the loans come in and reality hits…
Jordan didn’t want to be paying off student loans for years to come while trying to raise a family, something many Millennials will do for awhile. His first job, as a credit analyst, paid $36,000 a year plus bonuses, only 13,000 more than what he owed. Bleak right?
No, as with anything, he had to make sacrifices. Sacrifices that don’t look great on your social media profile..:
I actually moved back in with my parents — which is hard when you have been out on your own. But I didn’t really have a reason to move out. And I was blessed that they actually preferred me to live there because I could help out around the farm they own, baling hay or feeding the horses. Living at my parents’ place for free was a lot better than having to pay $400 or $500 a month for rent.
About four months into my new job, I picked up a second job, delivering for Pizza Hut, to help pay off my debt. I would start work at the insurance agency at 8:30 a.m., change in the bathroom at 4:50 p.m., get to Pizza Hut by 5, deliver pizzas until about 9:30, get home around 10, then shower, eat, and go to bed.
Not really a glamourous life: Living with your parents and working a job at Pizza Hut. While your co-workers and college friends hit the bars after work, you’ll be begging for tips while delivering pizza. But it comes down to : “How much do you want it?”
“If you have a game plan, you can accomplish your goals,” it’s the motto Jordan lived by while working 70 hour weeks for a year and getting home for curfew. Now, he’s debt-free and working the job he enjoys and doesn’t have to work at Pizza Hut anymore. He could’ve taken the extra money from his second job and spent it on new TVs and a fancier car, but he made a tougher, less sexy choice…student loans.
What do you think of his decision?
Read full story here: This Millennial Paid off $23,375 in Student Debt in Just 10 Months — Time.com