Millions of people are putting their dreams on hold. They delay marriage, buying a home, or having kids because they are waiting for student loans forgiveness.
However, this waiting game is dangerous. It traps you in a state of “debt limbo” where you feel like you cannot grow up until the balance hits zero.
In reality, you don’t need to be debt-free to start living. You just need a strategy that lets you ignore the debt while you build your life.
The “Life on Pause” Syndrome
Debt is math, but the stress is emotional. You look at your balance and think, “I can’t afford a wedding,” or “I can’t start a business.”
Consequently, you pause your entire existence. You wait for a government policy that might never happen. Therefore, you lose years of your life to anxiety.
Instead, the “Lazy Smart” move is to separate your life from your loan.
3 Ways to Un-Pause Your Life Right Now
1. Switch to an Income-Driven Plan (IDR)
Stop trying to pay it off in two years if it makes you miserable.
Specifically, sign up for an Income-Driven Repayment plan. This caps your monthly payment at a small percentage of your income. Thus, the loan becomes just another small bill, like Netflix or your phone, rather than a monster eating your paycheck.
2. Automate It and Forget It
The stress comes from looking at the number. So, stop looking.
Set up autopay for that lower IDR amount. Then, never log into the portal again unless you have to. Treat it like a tax you pay to exist. Basically, pay the minimum required to stay in good standing, and use your mental energy for your actual career.
3. Buy the House Anyway
You think you can’t get a mortgage with student debt. However, that is often a myth.
Lenders look at your “Debt-to-Income” ratio. If you lower your monthly payment using an IDR plan, your ratio improves. As a result, you can often qualify for a home loan even with a high student loan balance.
Conclusion
Your net worth is not your self-worth.
To summarize, stop waiting for permission to live. Manage the debt, automate the payments, and go get married or start that business today.
Tell me in the comments: What is one major life goal you have delayed because of debt?
