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Ashraf Rushdie Exquisite Corpse Essay Typer

Student loan debt is a big issue. It is the most common way of funding your college and graduate school education – but doing so has become a ‘Game of Loans’. And since money is my game, you’ll also note it’s my name…. Frank Money that is!…See what I did there?

Before you start to think that getting a student loan is like an alliance with the House Lannister, understanding what you are getting into is an important first step.

In the U.S., the total outstanding student loan debt is around $1.2 trillion dollars with the average student debt for a grad being around $33.000 (2014 figures).

Come off of graduation day with $33,000 in debt that begins to require monthly payments shortly thereafter can definitely take the wind out of your sails – and prevent you from being able to purchase other things you might want, like a car or home.

Perhaps the biggest question you need to ask yourself is what is the return on my investment for the education you are financing. Will the degree you earned ‘pay off’ in giving you enough income over your working life to afford paying off the loanit required -and- prove you with enough remaining $$$ to actually live the life you want?

As a general rule – try to avoid student loans as much as possible. Look for other monies, some of which is available for little cost to you in scholarships.

It’s sometimes daunting to understand all the facets of the ‘Game of Loans’ – but taking steps to investigate the rules of the game will prevent you from ending up with the dragons.

April is National Financial Literacy Month, Detective Frank Money’s favorite month! To celebrate the importance of being financially literate, Detective Money is going to post financial literacy tips every day.

This entry was posted in Detective Frank Money, Financial Literacy Month, Student Loans and tagged Detective Frank Money, Financial Literacy Month, Financial Literacy Videos, Student Debt, Student Loans, Talkin' Money by GW. Bookmark the permalink.

I’m Frank Money, and I wanna help you investigate everything about money! For example, let’s investigate savings. It doesn’t take much detective work to understand that savings is good for you!

And here’s the good news for millennials – you are saving at a rate greater than any generation before you. Fidelity Investments found that 20 somethings are saving on average 7.5% of their income compared to 5.8% in 2013.

We’ve talked about retirement savings, and how important it is to start as soon as you can, along with the benefits of deferring taxes and saving on how much income tax you pay when you invest in a 401k, IRA, etc.

But what about non-retirement savings?

One strategy to employ is to set a goal of savings out of each pay check, and to make that ‘payment’ to you savings account, just like you pay your rent, phone and electric bill. Over time, you grow your savings account and let your money work for you.

What’s the amount you should save? well, it varies from person to person, but a good rule of thumb is to save 10-15% of your gross income (the amount you make BEFORE taxes are deducted) and use that for both your retirement accounts as well as non-retirement accounts.

It takes discipline, but getting used to a regular savings plan is something all millennials need to consider. It doesn’t take much detective work to understand– SAVINGS IS GOOD FOR YOU!

April is National Financial Literacy Month, Detective Frank Money’s favorite month! To celebrate the importance of being financially literate, Detective Money is going to post financial literacy tips every day.

Posted inDetective Frank Money, Financial Literacy Month, Savings | TaggedDetective Frank Money, Financial Literacy Month, Financial Literacy Videos, Savings, Talkin' Money

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