Master Your Money With Reverse Budgeting
More than 43 million adults have student loan debt. These loans are not easy to pay off, but it’s much easier with some strategic financial planning. This method uses a six-month grace period, high-yield savings accounts, and good savings habits. The lowdown on loan grace period. With any financial planning, the first step is to get a clear picture of the situation, which is no different. You want to calculate your minimum monthly payment. There are many calculators online just for this purpose. For reference’s sake, the average monthly loan payment for people with a bachelor’s degree is $302, while those with a master’s pay $688. Most federal student loans have a six-month grace period after graduation and before you must start making payments. Direct Subsidized, Direct Unsubsidized, and Federal Family Education Loans fall under this category. Perkins Loans have a nine-month grace period, so they can benefit even more from this financial plan. Note that interest accrues during your grace period. Get better rates with a high-yield savings account. Once you start earning an income, you’ll need to work fast. Open up a high- yield savings account immediately. These accounts have a much higher interest rate than their traditional counterparts — up to 12 times higher. Not all banks Take Advantage of the Student Loan Grace Period WITH HIGH-YIELD BANKING
offer them, and not all have the same annual percentage yield (APY). Currently, SoFi Bank has a sky-high APY of 4.6% with $0 minimum balance. Carefully research the bank you’re using and read the fine print. High-yield accounts have a few drawbacks. Generally, you can’t make more than a few withdrawals a month. Few banks offer ATM cards for these accounts. They’re perfect for carving off student loan debt but not for daily finances. Once you’ve set up the account, it’s time to start saving. Deposit any extra cash from your loan payment into your high-yield account. When the grace period ends, you’ll have a savings account to keep up with your loan and its interest. Student loan debt is a huge hurdle for every college graduate, but you can pay your loans off with a little savvy planning. Keep the goal in mind whenever you make that monthly deposit. Soon, you’ll no longer count yourself among the millions of indebted Americans.
Embracing Work-Life Harmony in Legal Services Ursula’s New Chapter at Shoup Legal
At Shoup Legal, we truly value each member of our team. We recognize that our collective success hinges on unique individuals, like Ursula, our new Welcome Team Intake Coordinator. Ursula joined us after a remarkable 23-year tenure as a 911 dispatcher, a role that demanded constant availability and often came at the expense of personal time. Seeking a change, Ursula was drawn to Shoup Legal for the opportunity to balance her professional life with personal fulfillment, remarking, “I was tired of being on call
and on standby all the time and having vacations canceled. It was time for a change, and I was ready for more time with my family.” Transitioning into her new role at Shoup Legal, Ursula quickly adapted to her new work environment, where she has found the eight-hour workdays passing swiftly — a stark contrast to her previous on-call responsibilities. When you call our office, Ursula is likely the first voice you’ll hear when inquiring about estate planning, probate, or trust administration services. Her responsibilities are instrumental in coordinating the initial interactions with clients, scheduling appointments, and ensuring our services are seamlessly facilitated. This role not only utilizes her exceptional organizational skills but also her empathetic nature, honed over years of public service.
Ursula, this meant adjusting to a new rhythm in which taking regular breaks and enjoying lunch hours became not just an option but a standard practice. Our respect for personal time and work- life balance is deeply embedded in our company culture, reflecting our understanding that a happy team is more engaged and productive. Outside of work, Ursula is devoted to her family. Her 22-year-old son, and her mother, who is her best friend, are her world. She is an avid reader with a passion for travel. In June, she’s looking forward to a cruise to Greece, Italy, Montenegro, and Spain with her mother — how cool! At Shoup Legal, we know our strength lies in our people. By supporting and valuing individuals like Ursula, we foster a work environment that is not only productive but also supportive and fulfilling. Ursula, we are thrilled you have decided to call Shoup Legal home! We are lucky to have you!
What sets our firm apart is our commitment to the well-being and development of our staff. For
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