Student loan debt continues to be a problem in this country with over $1 trillion owed nationally. A large percentage of them are struggling to make payments or cannot make them at all. They are sliding towards default and an even bigger financial problem.
In the face of this, there have been a lot of ads lately, as well as articles on the web, that tout refinancing of your student loans as a solution to those unaffordable monthly payments. They say that you can get a better interest rate by doing so! While this may be a solution for some borrowers, for others, it could actually make things worse!
That is why in this episode of the podcast, I wanted to talk about the refinancing option and give some advice on when it can be the solution for you. You cannot work towards financial freedom if you are being held back by unaffordable debt that you can seldom wipe out.
Any threat to your employment is a threat to your income and financial freedom. One example of this is your driver’s license being suspended, thus causing a problem with getting to and from your job. Getting caught driving while suspended, because you have to get to work, just makes matters worse!
That is why in this episode of the podcast I wanted to talk about New Jersey’s driving while suspended charge and how to deal with it. In many cases it is fixable and prevents you from making a bad situation even worse!
Traffic violations in New Jersey can have a serious effect on your financial freedom, depending on the seriousness. Not only can the fines and surcharges be significant, but they can also lead to jail time! This is also true of minor criminal charges, like disorderly person’s offenses, that can be brought in this court.
That is why I discussed this topic on this month’s episode of Lunch with a Lawyer, which covered not only ways to avoid a jail sentence, but alternatives to serving that time in a cell. Since this is such an important topic, I wanted to share this information on the podcast as well.
In the previous episode of the podcast, I talked about getting ready for 2018 by formulating a budget and goals for the coming year. This is critical to financial freedom and should be done every year, preferably in December. But for most of you, creating a budget and goals is a new thing, and like any skill, it takes time to develop.
So, in this episode of the podcast, I wanted to talk about what you should expect in the first three months of 2018 as far as this process is concerned. By knowing what is ahead, you will be better prepared for it and be less likely to give up before you build up the momentum you need.