Tackling College Debt with Jessica Elberfeld

The Balance
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We're live with Jean Chatzky and college debt success story Jessica Elberfeld, who's about to pay off $113K of debt by age 29.

Posted 1 year ago in BUSINESS

Charlie Weimer 1 year ago

Good message Jean.

ML Thurton 1 year ago

We hear you working on it. Thank you.

Emily Faherty 1 year ago

What were some of the best money-saving tips as you were paying off your loans? What were the extra costs you cut out?

Mila S Araujo 1 year ago

Snowball method vs Avalanche method - choosing Snowball : succeeding one small goal at a time - nice!

Mila S Araujo 1 year ago

Hi Geoff :)

Geoff Golberg 1 year ago

Hi Mila

Emily Faherty 1 year ago

What advice would you give to those of us who are still paying off our student loans at age 29? ;)

Matthew Knell 1 year ago

What kept you going when the debt seemed like too much to overcome?

Heather Menicucci 1 year ago

Hear you about debt not being good..it's terrible...but, how do you do things like go to college or buy a house if you don't have the money up front?

Monika Norcross-Cerminara 1 year ago

Were you able to build a savings, for emergencies?

Lauren Siegel 1 year ago

What did you learn about paying off your debt that you think will help you moving forward (going back into music? new house, etc.)?

Mila S Araujo 1 year ago

I think the key is accepting you will have some debt but manage debt by staying on track with interest rates and balancing what you need vs what you want

Beth Ingram Webb 1 year ago

Who is the guest again - I didn't see the beginning of the show

Astrid Taran 1 year ago

How do you think graduating during a recession has effected the way young people think about their finances?

Mila S Araujo 1 year ago

Also balancing investment debt - like making an investment in yourself or your life, like college and a home - these are debts that will yield a return on your life and build assets, vs going into debt for trips, furniture and new cars every 5 years - debts that invest the borrowed money into things with disappearing or depreciating value

Beth Ingram Webb 1 year ago

Jessica ???

Mila S Araujo 1 year ago

Great tip Jessica : don't pay the minimum when you can afford or stretch to pay more. On the replay - rewind to see the part where she talks about Snowball vs Avalanche debt repayment - really smart approach

Matt Brownell 1 year ago

Even with the high cost of your student loan debt, do you feel that your college education was worth the cost?

Monika Norcross-Cerminara 1 year ago

So do you suggest not consolidating your loans?

Heather Menicucci 1 year ago

Jessica, please start a #budgetparty in Brooklyn!

Mila S Araujo 1 year ago

"Clearing debt first, then think about investments"

Mila S Araujo 1 year ago

"6-9 months of expenses /income" as a safety net

Joy Dawson 1 year ago

She has amazing discipline. Good luck to her.

Elisabeth Curnew 1 year ago

Roseann Spadafore Failla 1 year ago

👍

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