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Debt is an uncomfortable topic for many, but Sandra tackles it with confidence. Initially accruing approximately $126,000 in federal student loans, she has made significant strides in repayment, reducing her debt to just $8,250. She started paying off this debt aggressively shortly after graduation, and with her current plan, she anticipates becoming debt-free by 2029. This proactive approach is a critical aspect of her financial strategy, aiming to establish a solid financial foundation.
Investment and Saving Strategies
With her aggressive debt repayment in motion, Sandra actively participates in her employer’s 401(k) plan, where she has already invested $873. She also has a Health Savings Account (HSA) with $65, which she uses for medical expenses.