Can you remember a time of not having to worry about money? Envision yourself debt free right now. You don't want to miss this. I am about to give you some practical advice that will go a long way to making sure you don't stay in debt forever.

I went to University for five years. I took out a student loan to cover my education and living costs for four of the five years. I graduated with a big minus to my name.

The minus could have been bigger. So, why wasn't it?

I got a part time job, four days a week, waitressing at a family restaurant. I used this money to pay for food and to pay my rent. I made sure that I put aside ten percent of this money every month. No matter what kind of month I had, I put aside that ten percent that I made from my part time job. Yes, I can remember going hungry a few times and I must admit that I didn't have the most nutritious diet, but I was determined not to touch that money.

Every month I would put that ten percent of money towards the interest on my student hummingbird loans monthly installment loans no credit check. This helped to keep the interest rate from growing and compounding every month. I figured that I could keep this amount down even more if I could get a better job. After a year of waitressing at one place, I had enough experience to move on. I found work at a more exclusive restaurant. I made better tips and my monthly income was higher.

This is where a lot of people miss it. They think that because they are making more money, they can spend more money. No, no, no! I still made sure I put ten percent from my higher income, back into the student loan. My interest rate decreased even more.

I was consistent with this throughout my four years at college. I know I missed out on some fun because I was often working when my mates were out on the town. But, I learned valuable life lessons about how to handle money in this time. I couldn't splash out at all. If I needed a new pair of running shoes, I would take money out of my hummingbird loans payday loan no credit check direct lender, instead of using that ten percent. I only did this a few times. I can't tell you how important it is to commit to a plan of saving a certain percentage of money each month.

If you get into this habit while you are a poor student, it will be much easier once you graduate. This is because you start earning a bigger salary from a full time job. This means that the ten percent of money will be an even bigger amount. Of course at this time you will have to start paying back your loan too, so you will be putting more than ten percent of your total income towards your hummingbird loans direct tribal installment loans. Each loan system requires different payments, but here's a little trick that worked really well for me.

Once I knew how much my monthly payments were, I committed to pay that amount, plus I put aside a little extra money into another bank account. At the end of one year, I had saved a considerable amount of money that I then put back into my loan. This helped to bring down my monthly payments by a fraction more.

One of the best things you can do is to live below your means. Don't be tempted to buy the latest and the greatest. Think of people in third world countries and what little they can live on. Those of us in more advanced and developed countries just need to realize that we can really live on a whole lot less.

This advice may seem too simple and straightforward to you. But this little system really worked for me. I paid off my student loans within five years of graduating. I have friends that are still struggling to pay off their loans and I put it down to the way we live. I disciplined myself to stick to a plan even though it hurt at times. I am not advocating you to be poor or to live on a shoestring for the rest of your life. I am saying that a little commitment to paying back debt goes a long way. Get a plan and stick with it. You could be debt free sooner than you thought.