For those fresh out of college and newer to the workforce, it can be challenging to figure out how to balance between managing looming student loan debt and saving for your future.
And after a three-year pause, federal student loans will resume accruing interest on Sept. 1, with payments coming due in October.
"It costs money to owe money.
Ultimately, the sooner you can pay off your student debt — by making minimum payments and paying a little more each month if you can — the less you will pay overall.
"Start taking a little bit of money away that will cover two months' worth of your student loan debt and a couple of months' rent," he says.
Persons:
—, Chris Briscoe, Gen Zers, Briscoe, Andrew Meadows, Meadows, Roth, Roth IRAs
Organizations:
Girard Advisory Services, CNBC, College, Savings
Locations:
United States