Skip to main content

Featured Post

My Testimony of God’s Faithfulness

   I am thankful for this journey called motherhood .  I have walked this path with God by my side and I am grateful for how far I've come.  Raising a child alone is not for the weak but God has been faithful and has given me wisdom to do this.  Through the years of feeling alone and frustrated, I can thankfully say that I am happy that God has given me the strength and grace to do this. Not by might, not by power but by his spirit . All my daughter sees is strength and perseverance. In February of this year, I saw some fluid coming from one of my breasts and I went to do an ultrasound. She told me not to worry as my results would come back okay. Deep in the back of my mind, I was worried for my child and started to beg the Lord to give me some more years to spend with her . I am thankful for life and all that the Lord has blessed me with. He has been faithful and He is taking me from glory to glory . I have seen parents who have become frustrated with their da...
Post a Comment

How I Repaid $1.2 Million JMD in Student Loans Before Becoming a Mom​

Are you a recent University graduate? Did you graduate from College? Did you take Student loans? Are you worried about repayment? Well look no further, you are in the right place.
I was asking myself the same questions. I am here to guide you on the steps I took to pay off my Student loan debt. I graduated from college eight years ago and I can boldly state that I successfully paid off my Student Loan debt in 2017. 😅
How did I do it? Well, let's just say it was not a walk in the park. It took 5 years worth of commitment, discipline, determination, sacrifice, and persistence.
Here are the 10 steps which I am going to share with you which helped me along my 5-year journey to breakthrough.
  1. Start making repayments during the 6 months grace period before receiving scheduled loan repayment notice. After I left University in July, I didn't land my dream job as I would have hoped. I started out as a Call Center Agent and I started making payments of $2,000 JMD & $5,000 JMD per month for 6 months. By the time I received my repayment notice I had already paid approximately $40,000 JMD. Although this wasn't a lot, it helped to lower my principal and the repayment time frame I had to pay it. Instead of 10 years, it was changed to 7 years. 🙆
  2. Calculate how much you owe and the interest rate that you will be repaying. The interest rate was 9.5% on the principal. I borrowed approximately $600,000 JMD in total for the 3 years that I studied. In the end, I repaid approximately $1,200,000 JMD. 👀 Yes, that's correct.
  3. Decide on a fixed amount that you want to repay each month and remain consistent.
  4. Never miss a payment or if you do, let it be only for a short period of time. If you continue to miss payments then you will be in arrears. You will have to clear the arrears first and this would only be setting you back on your goal.
  5. Keep track of your payment receipts or online payment transactions as proof of payment. We are all humans and we make mistakes. There are numerous times in the past when the Loan Servicing Officer did not receive my payment on a specific date and I had to email the transaction.
  6. Constantly communicate with your Loan Servicing Officer to ensure that they have received your payment. You can ask for a loan statement and see a breakdown of all your payments.
  7. Create a budget including your savings and expenses. If you have a reserve of money left you can pay more on your Student loan for the month. The Principal will keep decreasing and you will be out of debt in no time.
  8. Find a Part time job or side hustle—This will allow you generate more income to pay your Student loan. I received gigs as a Part time Editor which greatly assisted me. Instead of paying $20,000 JMD per month, I would sometimes pay $30,000 or sometimes $40,000 JMD.
  9. Try to pay more than the 'minimum' payments that they instructed. You will avoid paying more interest in the long run and avoid taking more years to repay.
  10. Live within your means and only buy necessities. Simply put, if you don't need something then don't buy it. Resist the urge to do impulsive shopping. Resist the temptation to buy new clothes or shoes but make the sacrifice by seeing the long-term benefits.
I hope these steps were beneficial. If you have any questions or concerns, please feel free to leave your comments.
Love this content? Watch more on my YouTube channel—don’t forget to subscribe for weekly videos!
Labels:

Comments

Post a Comment

Popular posts from this blog

How Christian Moms Can Pray for Their Children

  As a Christian mom, one of the things you are mandated to do is to pray for your children. Prayer is a powerful way to partner with God to help you to raise your children. Praying for all areas of their lives is very important. You may be wondering how exactly can you pray for your children.  In this blog post, we'll explore practical ways Christian moms can pray for their children, along with some specific prayers that can help you feel connected to God and confident in your role as a mother. Why Is Praying for Your Children Important? Before we dive into the "how," it's important to understand why prayer matters. Prayer is more than just words we say to God. It is a way to communicate with Him, trust in His will, and seek His help. For Christian moms, praying for your children is an act of love and it deepens our trust in God who is the author and finisher of our faith. When you pray for your children, you're asking God to watch over them, guide them, and...
1 comment
Read more

Reset Your Year: Reflect, Recharge & Refocus for the Rest of 2025

  God has been faithful. We are in a new year. We have overcome the worst and are ready to prepare for a new season.  Keep focusing on the new things that are coming to you. Keep hopeful knowing that God is the same as yesterday, today and forevermore. He will make a way for you where there seems to be no way. Continue to trust as your Provider, Way Maker, Miracle Worker, Promiser Keeper. He won't fail you. Be encouraged and don't keep remembering the past but know that He is doing a new thing according to Isaiah 43:19 - Behold, I will do a new thing; now it shall spring forth; shall ye not know it? I will even make a way in the wilderness, and rivers in the desert. 
Post a Comment
Read more

My Self-Care Routine: How I Stay Balanced and Happy

  I am currently in a season of self discovery and self care. I often times tend to feel burn out and frustrated and then the Lord had to remind me that it is important for me to take care of my body.  Our bodies are God's temple and so we must take care of it. 1 Corinthians 6:19-20 states that,  " Or do you not know that your body is a temple of the Holy Spirit within you, whom you have from God? You are not your own, for you were bought with a price. So glorify God in your body." In this new year, I am paying it forward by taking care of myself in every way. I am focusing on my Mental, Spiritual and Physical health .  I am learning that if I don't love myself then I cannot show love and be my brother's keeper.  Here are some ways that you can take of your Mental and Spiritual Health: You can read the Word daily and remind yourself about who God says you are  You can pray to God daily and include Him in all areas of your life and before you make har...
Post a Comment
Read more