As a parent, you want to help your kids out, especially when they are starting college. After all, you want them to get their education, and cosigning for a student loan may seem like a great way to support them.
Generally, if you have good credit, choosing to cosign on a student loan can give your kids access to better interest rates. But, there are risks when you become a cosigner too, so you shouldn’t automatically jump in.
To help you decide if you should cosign for that student loan, Read more [...]
Let’s face facts; college is expensive. No parent wants to see their child saddled with thousands upon thousands of dollars in debt, or sacrificing decades of financial well-being to repay it. Student loans are a serious burden; one that I’m sure you’d do anything to help them avoid.
Since many parents of college-aged children have been contributing to a 401(k) for many years, it can be tempting to use some of those funds to help pay for their child’s education. If you are considering using Read more [...]
It is widely accepted that a good college education is an excellent starting point towards a good career. A graduate’s prospects for a well-paid job appear to be worth the effort to continue to study when some friends have already finished their education and got a job. College comes at a cost with the vast majority needing to take out a student loan to fund those years. Very few have rich parents who can simply pay all the bills. Those that already have student loans are likely to see little change Read more [...]
It’s that time of year … time to reflect on the year behind us and look forward to the year ahead. Setting goals and priorities has become an annual tradition here at Stapler Confessions. How did We do on Our 2015 Goals: Save for a down payment: SUCCESS! A combination of an up market and some serious belt-tightening allowed us to put down $50,000 on our home purchase. This is $10,000 more than we had at the beginning of 2015, and most importantly — it allowed us to avoid a rate increase Read more […]
Student Loan Hero is sponsoring this post. They asked me to check out their site and provide an honest review for my readers. What I found was a useful tool for student loan borrowers — particularly new graduates. My biggest financial mistake was not to take out student loans, but to ignore them for too long. With $200,000 in student loans, I thought that paying them off forever was a foregone conclusion. Then I read Dave Ramsey’s Total Money Makeover and met the frugal folks over on Mr. Read more […]
You may have noticed that I haven’t posted a Staples deal since last year. You may have noticed that I actually took on more debt instead of paying off student loans. You may have noticed that I haven’t snagged any free batteries in the entire time that this blog has been live. What?!?! Although I continue to love getting free stuff at Staples, my life has changed significantly over the past year. With an infant, a preschooler, and a new (to me) house, I haven’t had the time to stop at Read more […]
We stopped our aggressive debt payoff when I was laid off in October because we were trying to make ends meet. Some months, we did; and some months, we didn’t. One month, we even made an extra payment on a student loan. One month out of ten. :/ So, we fell off the wagon and I stopped paying attention to our debt repayment goals. Truth be told, I was obsessed with debt payoff when I was working steadily. Our income was predictable and I would project what our expenses and debt payoff numbers would Read more […]
Help me out here: Do I keep my new laptop or should I put the money towards our next student loan?
In the past year, we have only made one extra payment on our student loans. Although it was significant -- $2,000 -- I am anxious to make another. Mr. Stapler got a better-paying job, so we should have the ability to make more payments.
This month, I calculated that we could make an extra payment of $1,500. I was psyched. I started calculating whether we could pay off the next loan by New Years.
Then Read more [...]
Mercury must be in retrograde,* because this morning I read a handful of great articles -- all posted today. So, if you're hitting a 3pm Friday slump at work or you're stuck inside because of the rain this weekend, take a peek at this list of articles I collected from around the web. There's something for everyone. I hope you enjoy them as much as I did:
How to Make a Large Print for your Wall -- On the Cheap! For under $10, you can put some personality on your wall. And don't forget the Staples Read more [...]
I am again struggling with the temptation to pay off debt in order to have short-term financial stability. It could, however, threaten our long-stability.
With our emergency budget in effect, we are within $180 of making ends meet based on Mr. Stapler's income and my unemployment check. I recently estimated our taxes and discovered that we have enough in the bank that could pay off a loan. That would wipe out an extra $95 of monthly expenses, bringing us within $85 of making ends meet each month. Read more [...]