Some ideas for reducing your student loan debt and repayments:

1.Consolidate your student loans into one loan that spreads the payments over a longer period of time. Sometimes this enables you to receive a better interest rate on the consolidated loan.

2.Work out a plan with lenders to extend payments.

3.Work with a lender to pay less now and more later as your income grows.

4.Work with a lender to defer payments until your financial circumstances become better. If you are expecting a better job with more money then perhaps they may be willing to work with you.

5.Get a higher paying job or work extra hours for your employer to get the debt paid off.

With any of these ideas make sure that you read the paperwork completely. If you don’t understand ask questions. Check with your financial advisors, or parents or whomever you trust. You don’t want to make things worse by getting into a loan that doesn’t work out for you.

Office Accounting 2008 Express

Free Office Accounting 2008 Express

Getting Started Guide

From Microsofts website:

Office Accounting Professional 2008 is a complete accounting solution that helps small businesses save time managing everyday financial tasks, get organized, and grow their business online. With its familiar Microsoft Office interface, this program is easy to learn, so you can be productive right away. Smooth integration with other Microsoft Office programs makes information sharing simple and helps boost productivity.

By organizing all of your business information in one place, Office Accounting Professional 2008 helps you find the right information at the right time, so you can make better-informed business decisions. Plus, new features will help you sell products online, get paid faster, work easily with your accountant, and more.

I tried the 60 day trial of the Microsoft Office Accounting 2008 Software and it is a great accounting software for home or business.

1. Budgets are great way to keep track of how much money you have left over after the bills are paid.

They provide a practical way to keep track of your spending. It doesn’t matter if you are rich or poor, it is nice to know where your money is going.

2. Creating a budget requires:

Identifying your spending habits. What did I spend my cash on last week? Why don’t I have any money left before payday?

Setting goals that take into account your financial objectives

3. Use software to save time and make it easier.

Use a personal finance program such as Quicken or Microsoft Money. These software programs have built in tools that can help you setup a budget easily. I personally use MYOB which is mind your own business software (“yes it is a real accounting software”), but I am considering going with Quickbooks.

4. Keep track of your cash withdrawals.

Cash withdrawals from the ATM machine disappear from your pocket without any explanation. Take a little pad with you or a pda and put the transactions in for eating out, car washes, shopping at the supermarket, etc. Keeping better track of your expenses will give you a better idea of where the money is going.

6. Don’t overspend.

Most people overspend, don’t become one of them. Government statistics show that many households with total income of $50,000 or less are spending more than they bring in. See Social Class in the US

7. Beware of needs and wants.

If your income doesn’t cover your needs, then some of your spending is probably for wants which aren’t necessary. Do you really need that latte every day?

8. Pay yourself first.

Set aside 10% of your money for savings, investing and emergency funds. After that money is set aside then spend the rest on your needs and wants.

9. Don’t count on windfalls from taxes, presents, bonuses, etc.

Those windfalls may not come in and you don’t want to get caught holding the bag on expenses that you can’t afford.

10. Beware of spending increases to match your income.

Lets say your annual income rises from raises, promotions and investing, don’t spend increases to match your income because someday something may happen to your income and your overhead may be so high that you can’t afford to live.
Save some of that excess income and set it aside in savings for a rainy day.