Student loans don’t just plague today’s most recent college grads. More than 44 million Americans collectively owe $1.77 trillion in student loan debt. Raise your hand if that includes you.
In fact, a past study suggests plenty of people would be willing to go to jail for a week if it meant getting out of paying off their loans. The study was conducted by OnePoll on behalf of Splash Financial. It surveyed 1,000 undergraduate and 1,000 postgraduate degree holders.
With that said, all of us would be better off without student loan debt, and it’s totally possible to pay it all the way down. We’ve rounded up some of the most helpful books that will kickstart your journey to being debt-free.
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1. The Power of Habit
This book, authored by Charles Duhigg, outlines in detail the old adage, “We are what we repeatedly do.” Everything about life goes back to habits, and it’s all about developing good habits as opposed to bad ones in order to live a productive and happy life. This is especially true for personal finance, and the more we can train ourselves to make good financial decisions, the better off we’ll be! You can order your copy here.
2. Think and Grow Rich
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In the 1930s, writer Napoleon Hill embarked on a series of interviews. His subjects were multi-millionaires, like Andrew Carnegie. From those interviews, Hill penned his classic "Think and Grow Rich".
Although not a straight finance book, it is one that motivates readers to develop the type of attitude and beliefs needed to take control of their money. You can order your copy here.
3. Total Money Makeover
Radio host Dave Ramsey is a no-nonsense funny personal finance expert who has garnered a massive following among deb-laden millennials. To date, his book "Total Money Makeover" has sold more than 5 million copies around the world.
The reason that people flock to it is that it offers relatable and attainable advice that, in small doses, can completely change your life. For example, the book lays out how you can design a sure-fire plan for paying off all debt. You can even order the accompanying "Total Money Makeover Workbook" to keep notes and really work out an effective plan. Order your copy here.
4. The Money Book for the Young, Fabulous & Broke
The straight-shooting personal finance expert Suze Orman wrote this book for “Generation Debt” and focuses on money information for younger audiences specifically, perfect for millennials who are the most affected by student loan debt.
This book focuses on financial advice for topics like student loans, lifestyle advice, and intro investment strategies. Plus, it covers ideas for how to make your money work for you. Even better? The tone of the book is down-to-earth and easy to read. You can order your copy here!
5. Your Money or Your Life
This book has been a staple in the financial self-help sector for more than two decades, and it’s easy to see why. A nine-step program, this straightforward book helps readers quickly shift their attitudes about spending and saving. Additionally, its author Vicki Robin is an expert at providing very practical and wise advice on dealing deliberately with your money.
Plus, the newly updated edition includes topics like investing, side hustles and freelancing, online financial tracking, and tackling different conversations about money with loved ones. Order your copy here!
Now let’s continue 2023 and beyond with a new outlook on tackling student loan debt.
Jasmine Browley holds an MA in journalism from Columbia College Chicago, and has contributed to Ebony, Jet and MADE Magazine among others. So, clearly, she knows some stuff. Follow her digital journey @JasmineBrowley.
