Michael's situation is emblematic of the struggles many young professionals face today: high levels of student debt combined with soaring housing prices, creating a barrier to home ownership.
To effectively manage debt while saving for a home, it's crucial for Michael to reassess his repayment strategies. This may include refinancing high-interest loans or exploring income-driven repayment options.
Creating a dedicated savings account for the home down payment is essential. This allows Michael and Sarah to track their savings progress while ensuring that money isn't spent on other expenses.
Balancing student loan repayment with saving for a home requires strategic planning. Michael must consider long-term financial implications and current economic conditions before making decisions.
Collection
[
|
...
]