Offering your student loan debt will be up to four times faster and you will be able to afford to change your current income in your current lifestyle or with the Sun double payments to your student loan lender. I will give you all the tools you need to figure out how you can pay off your student loan debt as well as how much money you can afford. Step by step and now let’s get started so that you can start your business with a real estate investing business. The key step is to understand what the cash flow is, especially if you are going to be the first step in the process. that by taking your net Monthly Income and Subtracting Your monthly living expenses and if you are already in the habit of tracking your monthly expenses, you will need to find ways to maximize your cash flow. This is a video that I will leave a link or a description of this video and if you are interested in it you can go and take a look. This is a person who has a lot of college debt to begin with and a lot of college loan debt to begin with. Their education is a fifteen-year amortized loan and currently the monthly payments are $ 0 minimum interest per month at 0% interest so the reason I started out with a zero dollar per month payment is 0% interest right no w0 in deferment but do banks ever really give out loads at 0% interest not really so deferred interest as many of us have made the mistake of thinking that hey I don’t have to make payments The bank is still going to charge for your deferment period until it is over and all the interest is accrued. This person is called up to the bank and they find out that they are interested in charging him 6% and let’s say that The loan was deferred for a period of one year and they did not make any minimum payments at all and let’s find out how much interest accrued during that period. six and that equals $ 4,800 so to illustrate what happened to the student loan principal balance of $ 80,000 on the x-axis and this is the time line of the year.
The first year’s deferment was about $ 80,000 but then as soon as that first year’s deferment was over we hit the gonna get almost $ 5,000 so the limit goes up by four thousand eight hundred dollars. Eighty Four Thousand Dollars And Then Of course The Loan Enters A Repayment So Once You Start The Minimum Monthly Payment Or More Gradually The Loan Starts To Reduce The Time Of The Bank They are still looking for a job in their field for some period of time but they are still gonna make their money. That is just an amortization calculator and plug in all the numbers that will help us find the monthly minimum payment for this loan. The minimum monthly payment on a student loan is Carl’s mortgage calculator and it is a mortgage calculator app and I did try to find a student loan themed amortization calculator but there were no apps that I really liked with the functions that I was looking for. So this app does the job just fine and you can use any amortization calculator it’s just something easy that I have already had on my phone. When you look at your smart phone this is the property value but I have put in a student loan with the word interest already added to the principal. If your student loan is for principal balance and then you have the interest rate and then you know what to do then simply call your lender and ask and then you have the number of years to pay 715 dollars and 59 cents All right and even with this app you can go ahead and see how much interest you would have if you had paid off. Without even realizing let’s see what you would have beaten, you could have put your loan information on the front page. six dol Your loan is amortized, and your education is not as simple as your education.
How much money do you have to pay? The minimum monthly payment would be somewhere around seven hundred fifty dollars and fifty nine cents so that you would have a tool that would go very far. There are huge chunks and a banking tool equivalent of a line of credit and a line of credit that you can use either as a credit card or as a personal line of credit. If you have a credit card you already have a credit card You may want to find out what type of personal line of credit you are looking for in your area and what type of personal bank account you want to use. Using the example of a credit card and my mortgage payoff video, I will show you how to use your banking tool to make a choice. This person has a net income of $ 3,500 plus a monthly cash flow of up to $ 2,000 in cash flow. The banking instrument with a principal of 8 percent interest is the place to start with our student loan right away. The general rule of thumb is that you need to take about 3/4 of the limit right out of the fifteen thousand dollars of this person line of credit and making a principal only payment towards our student loan balance. This payment is applied only to the principal and not as a regular payment. Using the only remedy of 3/4 of your personal line of credit and why not using the full $ 20,000 the reason number one is really great if you can continuously maximize your personal line of credit account. Using your account temporarily so that only 3/4 of the account is getting rid of the account frozen and reason number two in one so we are going to byp This is the traditional banking system that you can use to get your monthly income deposited into your checking account and then your savings account.This checking account is available every single month as soon as this person gets paid. “We have fifty thousand dollars in the balance.
” We have three thousand five hundred dollars to go, and we have to go to the bottom of the balance of the three thousand five hundred dollars but we have to live with our living expenses. The minimum monthly payment of our student loan because it has entered into a repayment and we have to make even the minimum payment of $ 15,000. or your student loan is the first month in which you are able to calculate your living expenses by up to $ 2,000 a month. We knocked off a thousand and five hundred dollars and now let’s play out the rest of the timeline of how long it will take to pay off this $ 50,000 bail I went ahead and filled in. 3/4 of the Blimmin on our personal line of credit is going to be over this room because if you have a savings account, you have to have an emergency. If you are wondering why you would pay 8% when the student loan is the only charging 6% in interest I will go to the difference between amortized interest and simple interest. lot of This is my video which is titled How to Pay Off a 30-Year Home Mortgage and Five to Seven Years on a Strategic Understanding Strategy with a Little Deeper So you can go ahead and take a look at how long it will take you to pay off your student loan debt with the 10 month increments you just have to open the app and scroll to the bottom. If you choose to have an extra and you enter the $ 15,000 increments every ten months so I have 111 then I have 21 31 and I have already gone and put it on the table. Payments and how to get that Make the $ 15,000 principle only payment four times and then the fifth time you have only three to four hundred and forty-four dollars and twenty-seven cents up to the loan is completely paid off. The option is clicking on the summary and then you can see that we are able to pay off the student loan in three years and five months with the interest savings of thirty five thousand nine hundred seventy two dollars and eighty two sets. It takes you three years and five years to figure out how to balance your budget with your numbers work and how much you can save. Thirty-five thousand nine hundred of the savings in interest and savings in the months to come.