The minimum monthly payment is a trap.

Taking out loans is quite the concept that we see as normal. I believe it can be helpful at times when you have a solid plan for the future, but for most people, it is essentially like, “It’ll be a big help now and I can worry about it later”.

Most people take out their first [student] loans when the are only 17 or 18 years old. While some at this age may understand what they are signing up for, others don’t fully understand the ramifications (like me). I for one, had no concept of what it would mean for my future.

I will save you from going into too much detail for now, but I urge anybody who has loan debt, to make it a priority over other things they might spend money on. I believe if we take on debt, we shouldn’t be spending other hundreds/thousands of dollars on items we don’t necessarily need. We’re better off putting a portion of each paycheck into paying back this debt.

It’s what I am doing now in order to chip away at my remaining balance on a weekly basis… As much as I’m able to, rather than paying the minimum monthly payment.

The minimum monthly payment is a trap.

Instead, pay the maximum that you’re budget allows. This will allow you to have this debt behind you more quickly, in addition, you’ll pay much less in interest in the long run!

Sure college shaped my life, but having to pay back the associated debt shaped it even more.

On lighter note, here’s a foggy photo I took on a trail in the Snoqualmie Pass in 2022. I’d like to create a painting inspired by it someday.

aryktomlinson.com for more artwork viewing!