Disclaimer: Image used for Featured image is not mine
I am fortunate enough that my parents shouldered my grocery and my gas when I was studying in college. Though when we moved to another apartment and when it got busy at school (demos, tests, papers, and whatnot) my parents started to cook and send food good for 3 days (supper included). Most of the time, my fiancé comes over and either he’ll cook for me or we eat out.
On top of my student loan, I was also receiving an “allowance” from the government—it’s like a grant because I didn’t have to pay what they gave me. It’s taxable though. Now, it’s a lot of money, and being a student, I really don’t have any reason to spend it aside from rent, Hydro, and wi-fi of course—oh and also monthly payment for my braces. I did splurge on a couple new medical books because I refused to use a secondhand book that already have highlights and written notes on them because “it felt like I wouldn’t be able to understand it”. Kind of a bad way to explain but it’s just the way I study—I want to be the one to write on the book with my own notes to understand the lesson better.
Anyway, with my parents’ help and with my “frugality” I was able to pay my student loan. I know I didn’t have to because they said there will be no interest fee—but I didn’t want it to affect my credit score once we decided to apply for mortgage. Not too sure if it will—but for my peace of mind, I decided to pay off everything. Besides, if ever, my debt will be my fiancé’s debt once we get married and vice versa.
I wrote this post not to brag about being able to finish paying my student loans right away. As what was written above, I am fortunate and thankful that my parents helped financially when I was a student. I know some students does not rely on their parents help (financially wise) because they either couldn’t or the parents refused or they just didn’t want to ask their parents for help because they wanted to make it on their own. We all have different reasons.
My tip: spend it wisely—you don’t have to buy new shoes or new clothes or even new gadgets if you don’t need it. You might have money at the moment but that money is borrowed. Try to save most so you don’t have to worry about paying it later on (when you graduated) Then, you can enjoy your paycheck for something else.
I told myself that when I graduated and started earning, I will pay my debts right away. Then, I will buy my dream dog—Samoyed and buy a brand new vehicle. The last two didn’t happen because my priority changed. Right now, I’m saving for a house and for our wedding. My fiancé wanted me to get a new vehicle this year but I told him that I’m okay to wait until next year. Because our main goal this year is to have a house. I would probably write a separate post about this topic sometime soon. Once it’s all finalized.
I know at the end of this blog I gave an unsolicited advice so I’m sorry LOL What worked for me might not work for you. We have different situations. This is all for today. Stay safe!
Ciao! 💋
