Budgeting with a new apartment, new job and new mindset.😌 | June 2024 Budget

There's been so much up in the air, but I am hoping to normalize my budget (even a little) starting in June! I've got a new income, some new expenses (including health insurance😳) and a whole new mindset when it comes to my student loans. I'm just trying to find balance and remember to keep mental health a priority while I try to exist in an economy where affordable housing and a livable wage just don't seem to mix anymore. One month at a time!😵‍💫

Debt paid off to date: $143,849.31 ($99,978.42 in principal, the rest in interest) 😮‍💨

Hello!👋 If you're new here, my name is Rachel. I'm a millennial with lots of student loan debt.💰 I'm here to share my story as I push for financial independence and debt pay-down in hopes of inspiring others to feel that there's hope to get out from under their debt and take their life and finances back! If you need a little boost of motivation, you can subscribe for weekly videos.

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🌟Paypal: @Rachelh3385

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DISCLAIMER: I am not a financial advisor or expert. I just love talking about personal finances and want to share my journey to financial freedom and help you get there too!

[Voorhell]

Don't let anyone else make you feel bad about student loans. You are doing great!

[catgodfrey]

The SL problem has definitely made an impact on so many. I’m in the belief that the government should never loan the amounts they are, but I can’t believe it’s legal to pay more in interest than the borrowed amount that’s just BS. Give yourself some grace forget other commenters it’s easy for people to talk crap when it’s not them. @ least u paid back what you borrowed. Sending positive vibes 😊❤😊

[arkhamb]

Never had student loans...I can't imagine paying around 140k of 140k and still owing 178k- thats insane. 200 a month on food, wow! I thought I was cheap. Have you done a video on what you eat and how its so inexpensive?

[josephdaly]

Omg Rachel thanks for the update and the recap on the f****ng student loans. I can’t believe you would have to pay $3, 000 a month in interest before you can pay anything off the principle, that’s absolutely bonkers. Is it any wonder the government don’t want the loans forgiven when it’s one of their biggest earners? A mortgage wouldn’t even have that kind of interest. I’m delighted that you have compartmentalised this because you health and well-being is way more important. Think of the payments going out like a tax and let it off. Have a great time at the concert tonight you certainly deserve it. Have a great week. Mary, Joes wife 🙇‍♀️👏💪👍🙏💐🐈🐈‍⬛🎼🎤

[usergghtf]

As someone that had student loans. And someone by the grace and blessings from God was able to little by little pay them off. Praise God! I would dare not be angry, or mad, or upset, or whiny, nor even question if God blessed another person or people and forgave their loans. Whom am I to be mad at someone else's blessing?

We did what we did with what was available to us at the time to be able to survive. Would I have chosen differently with what I know now maybe. But last time I checked the past is in the past and we can't change that all we can do is continue to move forward. 😊

People can judge with all their hide sight if they choose to. It's only their opinion. Please don't allow their opinions to be your facts.

[Snowdogification]

No reason to feel any guilt about student loans -- that's some of the most unjust debt on the planet! I'm also waiting out my 20 years until forgiveness (20 in my case w/ just undergrad loans). Solidarity!

[amycolucci]

Loving your hair today and you are not dumb! You do you with student loans ❤❤❤❤

[livpacheco]

people say “you shouldn’t have taken those loans out” as if we don’t need people who have your education to do specific jobs 😅

[thenonniche]

I'm in similar boat with student loans. Not as high as yours but around $87, 000. It's ridiculous how the system works.

[singleparentfire]

It’s such a tricky situation with student loans. I do believe if someone borrows money they should pay it back but I understand how hopeless your situation can feel given the very high balance. We all have to make decisions that work best for us and find peace with it.

[workinprogresssince]

It always confuses me how complicated the system is in the US compared to the UK. It's fascinating. Thank you.

[rosamondhazell]

Your hair looks so beautiful!! Enjoy the concert 🎉

[Nwladylaura]

Crazy interest! So glad I went to CC and then State. No debt from college, but that was when it was reasonable to go cost wise. I think they should cap the interest. Letting it clear at 25 years is best. You will have paid more than your share!

[eSusan]

Totally get the compartmentalization of the student loans.

[lenak.]

I rarely comment on any video but really wanted to say that I find your thought process on SL completely understandable and healthy.
I'm from Germany and studied here as well. Government student loans work very differently, I borrowed somewhere around 25k (granted, education is mostly free here) and the maximum anyone ever has to pay back is 10k (at 0% interest and there's even a further deduction if you pay larger sums on it at one time). Obviously, there's a lot of nuance to the German education system and a lot of issues (with politics in general as well) and I don't think comparing different systems is ever that simple. And I absolutely don't want to make you feel even worse about the SL structure in the US, I just simply wanted to make the point that countries CAN function and edcuate their citizens without indebting them for decades.

It just makes me truly sad that we want to - rightfully - tell young people to go out and learn and figure out who they want to be in life, knowing that all of that is a process that takes time (and maybe a degree longer), all the while not educating them financially, to then have them feel like they "made stupid decisions" when they were younger. When in truth the systems are what's stupid. Naturally, not everyone needs to get a degree if they choose not to, but everyone should get to be young and have time to figure things out in life - we have to adult for enough time after that. Which, incidentally, also means paying taxes usually, so I feel like we're good on the count of contributing as citizens as we should.

Anyways, I have my fingers crossed here that you'll continue to be able to prioritize your mental health and find calm in your everyday life again soon (plus all the concerts!). I really, really hope that SL forgiveness will still be a thing once your time comes - you'll have paid them fully plus a ton extra, which feels like plenty of interest. And, my last two cents, if I were in your shoes, I'd even consider taking the loan amount off my monthly budget. No need to see that number more often than strictly necessary :)

Also, you looked lovely in this video and have moved through these major life events in the last months (plus lack of sleep) so well! I hope you had all the fun at the concert, you so deserve it!

[TexasGal.]

Hello Rachel. Thank you for your openness and honesty about your student loans. I am currently paying private student loans and can empathize.

[SquirrelBudgets]

I'm actually happy for you. I think this way you can pay your dues with regards tot he student loan but you can also have financial stability. I think your mental health and your overall financial well-being and stability is more important. That f*ing loan is daylight robbery, that is what that is! And you are beautiful! You're just tired, you've been through the wringer. 🤗

[kelly]

I've never heard of student loans this crazy. Holy smokes! And I am in California! I didn't know the interest could be that bad.

[itsjustbella]

You are doing so wonderful- keep on keeping w🎉

[BeaVaneX]

I know the situation is still up in the air but you're looking more at peace these days. Thank you for sharing the journey!