Statistics show that about 33% of all Americans age 25 and older have college degrees and those numbers are rising over time.  Unfortunately, many Americans use loans to finance this higher education.  Nothing welcomes your adulthood like getting the first student loan bill in the mail.  These bills can control your life if you’re careful.  And, while we don’t recommend taking loans in the first place, following these six steps will help you steer clear of trouble and manage your debt in a responsible manner:

1. Don’t Ignore Your Student Loan

Most of us would agree that student loans are no fun to pay back.  Completely ignoring them, however, will lead to serious consequences in both your credit rating and financial future. Make sure you start paying them off right after finishing college.  

Editor’s Note: College loans typically give you a six month grace period from graduation before you have to start paying them off.

2. Set Up A Budget

Your lifestyle completely changes after college.  You’ll need to start paying attention more to your financial surroundings and managing the flow of money through your accounts.  Part of managing your income and expenses will involve tackling your student loans.

Monitor all your incomes (paychecks mostly) and expenses (rent, food, utilities, student loan payments, etc.) and create a budget off this information.  It will help you determine your repayment strategy and show you where you can and cannot spend money.

There are apps and programs that can help. Third Party phone applications like You Need A Budget (YNAB), Mvelopes, and Mint, as well as software programs like Zilchworks and Quicken, can help you get on track.

3. Set An Affordable Monthly Payment

There is no one solution for everyone. Once you’ve set up your budget you’ll be able to get a clearer picture of what you’re capable of committing to pay each month – no less than the minimum of course so you don’t default.  If you can’t handle the minimum for whatever reason, it is best to talk to the loan manager as they are usually willing to work with you.  It is much better to set up smaller monthly payments over a longer time than default on your loan.

You will get rid of your loan sooner (and pay less interest) if you pay a higher amount than the monthly minimum.  This approach should be a goal, however.  Minimum payments should be considered mandatory for the reasons we’ve listed above.  Side note – if you have a lot of debt, consider looking into the debt snowball payment method as a way of getting out of debt faster.  It won’t be easier, but it works..

The recently created Pay As You Earn Repayment Plan (PAYE) also aims to make paying off student loans more manageable.  

Editor’s Note: I have no experience with this plan so please check with consultants to see if your loan and circumstances qualify you for the program.

4. Research Forgiveness Options

There are some lawful ways to have your student loans dismissed.  There are also certain criteria you must meet to qualify for a student loan forgiveness program. Research available student loan forgiveness programs at the state and federal levels to see if there is a student loan forgiveness program that suits your situation.  In the meantime, make sure you’re keeping up with your minimum payments.

5. Set Up Automatic Payment Options

One of the best solutions for student loan repayment is to opt for an automatic payment option.  These programs will automatically deduct a preset amount each month from your account to pay off the loan.  You will not have to worry about writing a check each month as it will be deducted automatically on a certain date.

Typically, you have the option of picking which day of the month you pay the loan.  This option allows you to do helpful things like schedule your payment for the day after your paycheck is credited to your account.

This approach takes the responsibility of remembering to write a check and mail it (or even just log-in and process payment) each month out of your hands and keeps your credit and status in good standing.

6. Make Extra Payments Whenever Possible

We touched on this item in Step 2, but the best tip for managing your student loans (after not taking them) is to pay them off as early as possible.  You can do this by making extra payments whenever you have a few dollars in your pocket.

When making extra payments, make sure it is explicitly clear that the extra money in your payment is to be put against the principle of the loan and not against the next future payment.  Also, if you have multiple student loans, always apply any extra payments to the loan with the highest interest level first.  This approach will reduce the amount of interest you pay and reduce the total cost of your loan over time.

Conclusion

Student loans are beastly things that are best avoided.  That being said, if you have them, it’s best to service them as much as possible.  We recommend following these six steps and also consulting with the most experienced, informed and active student debt consultants you can find in order to resolve your debt the most beneficial way possible to your current situation. Student loans can be trying but they are survivable.

It’s difficult being an urban homesteader. In order to make it, you need to be independent.  Independence can mean many things, but a lot of people think of owning a good amount of land.  So what is a poor city inhabitant who longs for the country life supposed to do? Become debt free!

Going Debt Free

Homesteading and independence go hand-in-hand with being debt free. The tips below will allow you to homestead anywhere.  They will also show you how to cut expenses and save cash.  The culmination of this effort can result in a debt free lifestyle.  The same kind of lifestyle that might see you own that real estate in the country.

Container Gardening

Think you need a patch of earth to grow vegetables? Reconsider. You can grow tomatoes, lettuce, squash and potatoes in simple containers.  Items such as barrels, pots or hay bundles will do.

Even better, container gardening is perfect for those new to planting. You have fewer plants to manage, less weeding and less immediate cost and time.  You can grow a significant number of crops in minimal space, even if all you have is a small balcony.  All you need is a little planning.

Zucchini and strawberries can grow in hanging wicker bins.  Similarly, tomatoes can be grown in little tubs.

Gardening and growing vegetables doesn’t require large machinery or planting equipment. All you have to do is make use of the things available to you.

Make and Use a Solar Oven

One of your biggest expense can be your utilities.  Have you thought about how you can continue on the debt free path and cook for free? A Solar Oven is simple to make and can completely reduce your utility costs.

Keep Some Chickens

A friend of mine hatched chicks from prepared eggs utilizing an electric skillet set on low.  They used some water to keep the air inside the skillet soggy and a towel to pad the eggs. Five of the eggs hatched and three of the birds made it to adulthood. She now keeps these three hens in her lawn. When they are mature enough, these animals will supply her with eggs once a day.

The cost of feed will most likely be offset by the amount of money you spend on eggs.  You can take the savings and put it towards your debt free goals.

Raising chickens isn’t for everyone.  Make sure you check the rules and regulations of your city.  Also, make sure you are on board with raising livestock.  It’s a full-time commitment.

Live Simply

A smart thought for anybody, yet key for a trying homesteader. Figure out how to curtail costs now, keeping in mind you are busy.  Dispose of the extra costs in your life. A homesteading lifestyle requires that you figure out how to deal with what you have as opposed to rushing to the store for something new.

Do you need those three TV sets? What about that vast closet of clothes? Learn to get by with what you have now.  Heading to the store when you’ve ‘made it’ might not be as easy as you think.

Conclusion

Living simply also means curtailing any extra costs that you might be incurring.  Doing things like paying off any loans that you have taken as soon as possible can lead to a debt free lifestyle. Do not to buy items on credit. The simple life may be what’s needed to get you to your debt free goals.

Riots, EMP threats, NASA’s megadrought, clashes between religious fanatics, the U.S. debt increasing and the coming elections – all of these situations point to the same thing: the world may go down south at any time. I’m not saying they will – I hope they won’t – but are we really crazy for prepping for them?

Our minds are running in overdrive about prepping while the Government’s telling us everything is fine and we don’t need to worry. Sometimes they call us crazy… even though preppers are some of the nicest and friendliest people you’ll ever meet.

I wrote this piece to give you tips on how to prepare without appearing crazy or freaked out about what’s to come. You’ll find my prepping suggestions reasonable. Acting on them will make you feel safer and I can almost guarantee you’ll sleep sounder knowing you’re ready for what might come.

Seven Reasonable Prepping Tips

#1. Get Into Shape

Bad situations bring out the worst in people.  When push comes to shove, people will start thinking they have more of a right to something than you and you may need to fight one or more thugs one on one. You may need to jump, crawl, climb and run to save your life. You may need to pull or carry an injured loved one to safety. All of these require strength, flexibility, speed and stamina.

Fortunately, it’s easy to improve all of them. The easiest thing you can do is just walk more! I, for one, love walking and I always find excuses to leave my car in the garage and run errands on foot. Jogging, hiking and going to the gym will all improve your fitness levels and work your muscles. I suggest you focus on tactical fitness exercises such as sit-ups, push-ups, pull-ups, jumping jacks and so on.  Remember, prepping is just as much about gaining skills as it is gathering gear.

#2. Get Out Of Debt

I don’t know if an economic collapse will come before the next major natural disaster or if it’s going to be the other way around. What I do know is that, in the case of either one, you don’t want to be owing money to banks or to anyone else.

We’ve always said that you should start of prepping by paying off your debts right now even if that means more effort or not eating out every day. You know what they say, the more you sweat, the less you bleed…

#3. Move Out Of The City

What usually happens during riots is that the downtown area of a city turns into a battlefield. That’s the last place you want to live because you can’t get in, you can’t get out meaning you might get stuck inside for days, even weeks. Even worse, you might get yourself injured trying to get home.

Try to find cheaper housing in the suburbs. You’ll have to be careful about the location, though, to avoid high-crime neighborhoods. You want to be safe before and after a riot, not just during, when those low-income rioters who also live in the suburbs decide to take justice into their own hands. You’ll also want a quick way out of the city if need be.

Fortunately, you needn’t go further than this website to learn about life in the suburbs.

#4. Start Stockpiling

No, you don’t have to fill an entire room with toilet paper.  You should, however, have a pantry full of foods with a long shelf-life such as canned veggies, jams, peanut butter and honey. All you need to do is buy a little more food than usual with each time you go to the supermarket.  Make sure you’re paying attention to the nutritional content of your stored food as well.  A healthy you is a stronger you.

Buy the things you like to eat so you can easily incorporate them into your diet. Food rotation is important because you don’t want to end up with a spoiled pantry. Of course, you can get other things in bulk such as the aforementioned toilet paper, floss, soap and other hygiene products. You should never run out of any of them – catastrophe or not.

#5. Find New Hobbies and Passions

Hiking, camping, fishing, woodworking, gardening, crafts – these can all make you better prepared without anyone suspecting the real reason why you’re doing them. If you thought about finding a new hobby, maybe now’s the time.

Who says you have to start a hobby on your own? You can do many of these things with your kids (and bond with them) or with your spouse (and possibly bring back the romance into your marriage). Hobbies are great bonding opportunities. Who knows, maybe one of them will turn into a passion.

#6. Prepping Your Car

Engine oil, transmission fluid, a toolbox, a spare tire, a shovel, these are things every driver should have in an emergency. To go the extra mile, why not add water and even a few snacks in your trunk? Not just for SHTF events but also in case you get stuck in traffic for longer periods of time. Add an AM/FM radio and a few blankets, too. If you’re stuck in heavy snow for hours, you don’t want to use fuel and your car’s battery to stay warm and hear the latest news.

Last but not least, make sure you have a good first aid kit. Not the basic one that came with the car, of course. You can make your own from scratch to make sure you have everything you need.  Keep an eye open for sales on first aid equipment and you should be able to do this step on the cheap.  For example, I bought some Ibuprofen last night and they had a “buy one get one free” promotion. Now, I can keep the extra pack with the other in my bug out bag or I can add it to my car’s survival kit.

#7. Start a Medicine Cabinet

Keeping in mind that I’m not a doctor and that you should only use my advice for information purposes only, I want you to build on the previous idea of assembling a custom first aid kit. You can take it even further by buying things such as:

• Bandages (triangular, 2×2, 4×4, H bandages etc.)
• Nitrile Gloves
• Burn and Trauma Dressings
• Sam Splint
• Instant Cold Packs
• Dental Kits (dental care is going to be tough in a post-collapse world)
• …and more.

Note: You shouldn’t store your medicine in your bathroom. Keep them in a dark, cool place because the heat and moisture from your shower will decrease their shelf life.

Final Word

Truth be told, I could write another five articles with all the basic prepping actions you could take and not look crazy. This one should give you a great head start in tackling all sorts of scenarios, including a natural disaster, riots or an economic collapse.