It always takes my breath away when an amount that large is deducted from my account in a blink. School is about ready to start again and there is one less semester needing to be paid.
My second job came just in time as God used the new work as the means to provide the money for another semester, for which I am extremely grateful. Additionally, my husband filled out a FAFSA form at the beginning of the year and received a grant of $1,175 for this semester. Yay!
Just a couple of weeks ago, there was only $1,400 saved up for school as you might remember. However, we had enough in other savings to cover the entire tuition and decided to use the savings to pay for school by the deadline.
The paychecks which will be trickling in throughout the next couple of weeks will be used to replenish the empty savings. I only drain savings if there is enough money scheduled to come in very soon, so I do not have to pay for the additional amount of getting on the payment plan or spend a couple of months paying myself back.
By my calculations, we will be on track to start saving again for the spring semester by the 10th of September, which is much sooner than normal. Usually, every summer I have to dip into savings which takes a couple months to recoup the savings before we are able to save for the next semester.
Talking about saving for another semester, I printed an outline picture which we have started coloring in when there is money to put aside for school. The picture is framed and sits near my desk where I look at it multiple times a day.
Progress can be seen and I can see how much is left before we reach the end of the ever growing goal of paying cash for college. Even after just two weeks of using this picture to track our saving, it has helped bring motivation to save even more and a sense of approaching finality to this school journey.
Why do I work so hard to pay cash for my husband's tuition?
I don't like debt.
So many of my friends have struggled for years paying back all their student loans. After watching their struggles, I have come to the conclusion that I would rather bust it now by working really hard to give my husband the gift of graduating with the full use of his income.
Yes, I am not going to lie, not having student loans at all upon graduation will be a huge relief to myself as well, especially, since we are going to be done with school a lot later in life than most people.
The debt we brought into our marriage completely stressed me out by having those payments every month. There is plenty of stress with life, but if I can reduce some of the stresses by making better money choices, I will.
Money can still be tight at times, but there has been a sense of freedom in my heart since we paid off our last debt more than five years ago. I do not owe anyone anything. The longer I am on the other side of debt, the desire for anything which cause me to go back into debt weakens. If there is no money, I can do without.
There is also a little sense of pride in paying cash for college. Pride in working hard and accomplishing something huge, when the common message says it is impossible to get through school without any debt.
And yes, you too, can pay cash for school.
Whether you are paying for your own education or paying for your children's college, paying cash and not taking out student loans needs to be a priority in your life. Graduating debt free needs to be your Why; your goal to work towards every day.
You can start saving today for next semester, even if you have already been taking out loans for school, by working backwards.
How much is next semester going to cost?
Divide that by four months (September through December) and you have a reasonable amount of money which needs to be saved each month.
So how do we pay cash for college?
Here are 20 tips how to pay cash for school that you need to know
1. Keep expenses as low as possible
2. Rent a cheap apartment
3. Constantly look for ways to trim costs
4. Make the investment into education a priority
5. Driving and fixing old cars
6. Take public transit instead of paying to park on campus
7. Fill out the FAFSA and taking advantage of grants/scholarships
8. Buy used textbooks
9. Follow a budget
10. Work hard and work a lot
11. Develop multiple streams of income
12. Don't buy into life upgrades
13. Eat at home
14. Live a simple lifestyle
15. Say no to unnecessary purchases
16. Take equivalent classes at the community college
17. Realize small additions to savings will add up over time
18. Make the goal visual
19. Stay hyper focused on saving
20. Work together with your spouse
The message that you can't escape loans and you will always have debt is completely false. As you watch me save up money and pay for school, may the glimmer of hope rise up in your heart to realize that you can pay cash for school or get out of debt.
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