Kak
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I have just paid off my $12,500 in credit card debt and now I am focused on paying off $37,000 in student loan debts. My monthly payments for the student loans are $250 but I plan on paying about $500 every month in order to pay off the loan faster. Other than this loan and rent, and do not have any other major bills.
However, living in Sacramento or anywhere in California is becoming too costly. I work for a company that has locations in most major cities in the US. I am just not sure which city has the lowest living costs as far as rent.
I really want to focus on building a business but the student loan debt is like a shadow that I cannot stop thinking about.
Being in debt is a great motivator to seek ways on earning extra income. I have tried getting an extra job but it would still take a long time to pay off the debt since the cost of living out here is rising. My rent just went up 15% and I am sure it will keep going up.
Any suggestions on the cheapest city to live in for people in my situation?
Leaving the regulatory and tax environment of California is a good move either way you slice this.
If it was me, I would move, not to necessarily pay off the debt, but to just be in a more friendly business environment.
Hint, look in red states.
At $250 per month, the debt is really not that big of a deal. I am sure it is super low interest too. Personally, I would put it on autopay and just learn to live with it, for now, and invest your time and effort into increasing your income instead of worrying about the debt number.
You seem like a smart guy... I bet this method even ends up paying the debt off faster than dealing with it first.
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