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Chenell

I am Chenell Tull and so far, I've had a pretty rough time with my student loan debt. Recently, I've figured out a more productive "get out of debt" plan and the goal is to pay off over $60k in just 36 months. If you want to learn more, subscribe to the mailing list and get FREE updates on my successes and failures on this journey out of debt. 

Beating Student Loans – How I Am Paying Off $22,371 in Student Debt

Tips for paying off $22k in Student Loans

This post was written by Drew Cloud, founder of The Student Loan Report. Take it away, Drew!

It feels good to beat student loan debt.

It can take some hard work, but it is well worth it to be able to use your income for life’s milestones, such as buying a car or a house. On top of this, many borrowers are completely blindsided by the interest they are required to pay on their loans.

For many, student loan debt hanging over their heads means that they can’t achieve these major steps in their lives. Despite this, there is a way out. I am beating my $22,371 in student debt so I can pursue very important financial goals sooner rather than later. Continue Reading

How Robo-Advisors are Changing Investing

Piggy bank - how roboadvisors are changing investing

This is a guest post from Kayla of ListenMoneyMatters.com

In the past eight to ten years, the financial world has seen the rise of a new way of getting financial guidance through robo-advisors. This relatively new investment concept was not widely used at first, but it has picked up momentum and is now a serious consideration for those seeking financial wisdom and help with investing for retirement.

In a world where money is constantly changing hands, it seems that robo-advisors are here to stay. But just how are robo-advisors changing investing? Are they really making it easier for people to get started investing? Here are just a few of the ways robo-advisors are changing investing.

Cost of Investing

Before robo-advisors made their appearance, investment consultants could typically be found wearing fancy suits and working in expensive looking buildings. If you wanted to talk to one, you first made an appointment with that firm’s young, pretty secretary.

Next, you would come to meet your financial advisor in a huge, luxurious office sitting behind a massive, highly lacquered desk. Finally, your advisor would explain how investing with him, or her, would turn your small savings into much, much more. But of course, there were always some fairly significant fees attached.

Robo-advisors are changing all that. They take the human element out of investing. As a result, robo-advisors can provide financial knowledge for more people at a lower cost. In the future, fees charged by suite wearing investment advisors may be reduced just to keep up.

Accessibility

Not only are robo-advisors making the cost of investing more affordable, they are also making it easier. Everywhere you go you see cell phones and other internet linked devices in the hands of the people you pass. We are connected now in ways we never have been before, allowing us to get information of all kinds, including investment information, almost instantly. Instead of having to go to a land line to call your investment consultant by phone you can simply pull out your phone and check your investments yourself. There is no wait and you can make changes in your portfolio while you are stuck in traffic or in line at the grocery store. Of course, technology plays a part, but robo-advisors are the tool that makes it possible to manage your investment portfolio just about any place and any time.

Ease of Use

One of the wonderful things about robo-advisors is that they make investing much easier. If you want more control over your investment options, using a robo-advisor can help. You can compare services and fees at the touch of a few buttons without having to go through a person. This means you don’t have to wait for someone else to get back to you with answers. Instead you can get them yourself.

When you want to see what is happening with your portfolio right now, pull out your tablet or laptop, go to the website of your robo-advisor, and check to see how your investments are performing. It’s fast and it’s easy to keep your eye on your investments through robo-advisors.

There are many ways robo-advisors have changed investing in the past few years. They’ve made it significantly easier for beginners to start investing by taking a lot of the fear and uncertainty of the equation.

Beginning investors can use robo-advisors to invest based on their risk assessment with a low beginning investment and low costs. Only time can tell us whether or not robo-advisors are here to stay and if they will be able to keep up as technology advances in the future.

Have you used robo-advisors for investing? Do you think the changes are a good thing?

Kayla is a personal finance blogger in her mid-20s who loves to write about money topics of all kinds.

 

*If you’re looking to get started with robo-advisors, Betterment is pretty beginner-friendly and easy to use – using this affiliate link gets you 6 months free. 

Paying Off Loans with My Savings Account? [Reader Question]

should i pay off debt or save money

Since starting this blog, I’ve gotten lots of questions from friends and family about their current financial situations.

I get great questions regarding something they’re thinking about doing, whether or not they should consolidate, etc.

I love being able to help people decide what their best options are, but sometimes, their questions frighten me at first.

Recently, I received a text from a friend that said:

“I either just did something great, or really stupid with one of my student loans.”

My mind started racing – did she consolidate with a shady company, or pay it off with a credit card balance transfer?

Continue Reading

“How I Paid Off My $90,000 MBA in 2 Years…and 6 Days”

mba paid off in 2 years

This post was written by my friend Eric Rosenberg, a full-time freelancer and blogger at Personal Profitability. He’s going to show you how to pay off 90,000 in student loans and how to pay for your MBA. Eric writes about personal finance and entrepreneurship at InvestmentZen, his own blog, and other sites around the web. 

College is expensive. Looking at the headlines, you can read about millions of people struggling with the cost of college and student debt. When I signed up for the MBA program, I had a bit of sticker shock myself. The $90,000 price tag was steep, but I knew that if I went into it with a plan, I could get a great education, increase my income, and get out of debt faster than the ten years it takes many other borrowers. Continue Reading