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- Last year, I needed to pay back a loan of $5,500, while managing other outstanding debts I had.
- I decided to make some changes to my daily routine to raise the money.
- By making small changes like making my lunch instead of buying takeout and cutting out one cup of coffee a day, I managed to save the whole $5,500.
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I received a letter last March explaining that it was time to pay back a hefty career development loan.
I shouldn't have been surprised, but I was - because, to be honest, I'd completely forgotten about the loan I'd taken out several years before to help support myself while I completed my master's degree.
But there it was, in black and white, explaining I had 12 months to pay back the total sum of $5,500. If I didn't pay within a year, I'd be charged a steep interest of 9.9% annually - which would have added an extra $544.50 for every year I delayed.
This looked pretty challenging, as I had other outstanding debts at the time, including a car repayment loan. Not to mention all the usual expenses like rent and utilities. But there was no escaping it. Where was I going to come up with an extra $5,500 in a year?
I decided this was the challenge I needed to make some long overdue adjustments to my weekly working routine.
And by making a few small changes to my everyday routine, I managed to save the entire $5,500.
Here's exactly how I pulled it off.