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Joel covered a lot this week, so here's a quick outline of what you need to know to get yourself on your way to financial happiness:
The Supreme Court has ruled against Biden's student loan forgiveness plan. So if you're one of the people who still has student loans that need to be paid off, you need a plan. The first thing you should do is find out how much your payments will be, and when the payments will begin again. The student aid site can be a huge help for that. Then you can do the following:
- Pay off high-interest debt as soon as possible
- Pare back your spending: A bare-bones budget may be helpful to you
- Beef up your emergency fund
- Start a summer hustle
Even though it may sound scary that paying back student loans is starting up again, there is some hope. The Education Department has finalized an income based repayment plan. It will help lower income households with their student loans. You can check out how much it will help here.
DIY Pest Control Treatment: If you thought that doing your own pest control treatment is difficult, expensive, and time consuming, think again! Check out the full breakdown and why you should do it here.
Charitable giving dropped in 2022: That's not good! Donating does a couple things. First, it directly helps people in need. Second, for you, it makes you realize what your money can do. But how will you know which places you should donate? Donor advised funds are a great way to help out those in need. One of the best low-cost companies is Daffy.org! Joel even did a full breakdown and review of the site!
Don't forget to check out the 'How to Money' Newsletter and website!
Check out the full show below!