That’s amazing!! Keep it up! I’m so happy for you :)

This is literally me! I’m almost done with my credit cards and now to tackle my student loans head on.

Hi Gwendolyn, I love your plan! I lived in the DC area too (went to law school at Georgetown) - cost of living is super high. Downsizing is a great idea to quickly cut costs. So it applying to those 6 figure jobs. You have a great plan & I'm rooting for you!

You can do it💜💜💜💜💜💜💜 Downsize and possibly become a minimalist. Only buy out of necessity 💜

what are you doing for work?

I also paid off $300,000+ in full 100% after i completed 3 of my degrees. i personally don't like to pay more than minimum payments, unless it's super high interest rate. i would consider the opportunity cost and use it to invest and generate more. so i actually use the money to invest instead of paying the loans, then i ended up tripling my investment, so i paid off my student loans fast that way. i just posted a video about how i paid off $300,000 on my channel. please check it out and let me know what you think too 😃

Briana Williams I work as an analyst! I contract with the fed. Gov.

Congratulations! You're almost done. Wow, I've never met a cancer research biochemist. What you're doing for this world is amazing!

@@Erika2 It's even better than it appears because I have $10,000 in savings, meaning I have a positive net worth. I passed that threshold October 2019 (5 months ago).

@@MisterTutor2010 That's amazing!! Positive net worth is such an awesome feeling :)

What happens if the govt decide to finally cancels all outstanding student loan debt. Will you want a refund? Just curious.

You have a PhD and only make $52K a year? Damn all bad I am a Certification/Certificate holder in Sterile Processing and I nearly make that after taxes (48K) with only 2 years experience. That's to show you a degree don't mean everything and sometime can mean a waiste of time and money. But good job on paying off your student loans! 👍

Lmaooooo yes!

Joo Dee, is that u? Lol

She looks like Odeya Rush the movie, "The Giver"

😂😂😂

Lmbo

Totally. Erika is clearly in an amazingly privileged position to be able to pay an average of 110k+ per year in loan repayments over two years. After tax and living expenses (even if they're minimised), you'd need a gross income verging on 200k and probably more. To be earning that sort of coin, first year out of school is not standard (she's one of the lucky/privileged) To also preach about financial minimalism while living in a spacious apartment in Ginza, is disingenuous too. Hats off to her for the philosophy (I think financial minimalism is great), but it's difficult to take her seriously. (Very) high income, family/friend financial support, existing wealth (she mentioned multiple real estate deals) were likely reasons for her being able to pay off 220k in two years rather than keeping her spending in check (not catching ubers, not paying for lunch, etc.).

matster77 matster77 Hello. I initially tried to ignore your comment, but this was really hurtful and I felt I had to respond. This comment made me want to just delete the channel, but I figure that would be a cowardly way to quit, so instead I wanted to respond. It’s terrifying putting myself out on a public forum like KZfaq, and sharing details of my finances and my life. It’s completely out of my comfort zone, but I decided a few months ago that I needed to do it, because I hope that by sharing my story maybe I can help someone out with their finances, or inspire them to get in a better financial situation. Being in $200,000+ of debt is terrifying for anyone, regardless of income. I thought that by sharing my story, maybe someone else who is weighed down by debt might watch this and realize that they too can become debt free. I focused on tips that could apply regardless of income level or debt repayment amount because I wanted the tips to apply to everyone. The only reason I even mentioned the amount I paid off was in hopes that someone would see the title and want to click, and hopefully then be inspired to tackle their student loans. I obviously regret sharing the number now. I should’ve just shared the tips. I’m sorry that this video upset you so much and I’m sorry you “can’t take me seriously”. Yes, in order to pay off that amount that quickly, I was lucky enough to have a high paying job ($250k range). As you stated, it’s not standard to make that much out of school. While I did work very hard to be #1 in my law school class first year to secure that high paying job (while bartending until 2am many nights to help with expenses), I agree with you that it’s luck-I don’t feel like I deserved that job more than anyone else. In fact, I know many people far more deserving of that job. The assumptions you made about existing wealth and family/friend financial support are false. It would’ve been lovely to have, but unfortunately not the case for me. Finally, you called me disingenuous for living in a spacious apartment while talking about financial minimalism. I have never been called that before but I’m sorry you felt that way. I recently quit the high paying law firm to take a risk and pursue a few things I’m very passionate about (I talked about it in my recent “passive income” video) because I care about having an impact on people more than I care about money. You should know that the Ginza apartment was paid for by the law firm. Since I’ve quit, I can no longer afford that apartment (and even if I could, could never justify paying that much in rent since I truly do believe in financial minimalism) and have since had to move into an apartment that I can afford. You’ll notice that the backdrop of my videos changed 2 weeks ago. I was frankly a little embarrassed to tell people this (because I absolutely loved living in that beautiful Ginza apartment and never thought in my wildest dreams I’d have a chance to live in an apartment like that), and didn’t feel like this was something I needed to share with the world, but now you know. I hope this clears up the assumptions you made about me, and I really do hope you have a nice day!

I don’t think I would characterize her ability to pay off $200k+ in student loans as springing from privilege. I think it shows a person taking a calculated risk with debt and using it successfully to position herself in a high paying career. Her suggestions are scalable and can be applied to the person $50k in debt with a $70k a year salary. Now, if you are $200k in debt and only making $50k then, no, you won’t be able to pay it off in two years. But...I would argue you weren’t very wise taking on so much debt for so little return on investment. That is not Erika’s fault and shouldn’t be a reason to to call her disingenuous. Her story may not mirror other people’s situations but dismissing it seems unwise. What she did is actually fairly impressive and unique amongst newly minted, highly compensated professionals. Time and time again I see doctors finish residency, take a job for $250k-400k a year and immediately buy the $70k truck, the boat, and the 4000 square foot house on 20 acres. And they still are massively in debt from school. So, for her to tackle her debt like she did is impressive and unique.

Look, hey, ignore my comment. It was obviously ill considered, (falsely) presumptuous, and overly critical. The tips you provide ARE helpful to someone wanting to get to know this stuff. So keep doing you and ignore the negative twits, like myself.

@@matster77 Wow, I didn't really expect a response like this from you, but thank you for going out of your way to send this. Honestly, I deeply appreciate it (you have no idea). Thank you for taking the time to read my long comment and understand my story a little more.

Thank you!

I also paid off $300,000+ in full 100% after i completed 3 of my degrees. i personally don't like to pay more than minimum payments, unless it's super high interest rate. i would consider the opportunity cost and use it to invest and generate more. so i actually use the money to invest instead of paying the loans, then i ended up tripling my investment, so i paid off my student loans fast that way. i just posted a video about how i paid off $300,000 on my channel. please check it out and let me know what you think too 😃

They really don't! It's a shame.

That's definitely intentional.

Mine did. I was specifically told not to take mote money than it takes to pay for books and tuition. They told me any extra, decline. Then they told me a few stories of people who ruined their life getting in debt.

Hi Tiffany! For private loans, consider refinancing - it can help lower the interest rate and perhaps other benefits. There's another more detailed video on my channel about refinancing (I think it's a similar title to this one)

Damon Keizer Mine’s almost $300,000 and I also graduated from law school. Pray for me.

@@DenmiSama You can do it!! Congratulations on graduating from law school! How does it feel to be done with school?!

Thank you so much!

But what about rent and food and tax? :O what was your first year salary to debt ratio?

lol you should look at debt after medical school

You made $92k a year while studying!?😵😵

@@janebaker4912 it's the hustle so many jobs and finance saving

@Katherine P Who are you quoting ? effed

Look at that backdrop she’s in, definitely payed off

Ya I agree, you’re signing legal contracts - master promissory notes that review everything about the loan - being in law school how did she not read the contract she was signing.

Thank you Philip!!

Thank you Ian! It's my pleasure :)

Leo Vargas you should be though. Theres a better way of going through college without going through debt

Thank you Ellen! I'm really happy to hear you found them helpful!

Yes! Exactly! Love it. You're crushing it with your channel :)

Erika Kullberg: Finance, Investing, Passive Income oo

How Debbie Saves yes Erika is amazing!

Thank you Debbie!

@@JustFrugalMe Aw, you're too kind!

Hi Christian! I'm so glad you enjoyed it. There's another more detailed student loan video I made more recently that you might enjoy too :)

Thank you so much! Hope things are going well with your channel!

Thank you so much!!

I really love your mentality and what you're saying. Thank you for the insightful comment!

Thanks for the amazing comment Q. You're doing such a great job on your channel! Hope things are well!

Hi! I'm so glad to hear. This is actually the more detailed follow-up video I made that's even more applicable: kzfaq.info/get/bejne/lailosqa2LXQfJc.html To answer your question - it's really situational. What are your goals post-law school? If your goal is Big Law, then I 100% recommend going to the better ranked school at nearly full price (but only if that school is in T14). If your goal isn't Big Law, then I'd probably lean towards slightly lower ranked school. Let me know your current choices and I'll try to provide some insight. If I miss your response you can shoot me a message on IG @erikankullberg

Thank you!

@@Egzistor hahaha. I don't drink beer, thanks for the advice.

I'm rooting for you!

@@Erika2 Thank you very much. I really appreciate.

@@Innotutorial :)

5k? You got this bro

Let go of the fear, let God. Make a budget. Check your progress every month or so.

You can start paying them now, even if it’s $5 or $10

I'm glad it was helpful!! There's another longer and more detailed video on strategies for paying off student loans that I made on my channel. I think you'll like it!

Erika Kullberg - Personal Finance Tips yes in a few weeks! Going to Isle of Palms in SC. One of my favorite spots haha It was worth it though.

Erika Kullberg - Personal Finance Tips you definitely should it’s a beautiful beach and it’s never as crowded as the well known ones. Thanks I will!

Hey Travis, thank you so much! Keep up the great work with your channel!

Adobe premiere pro. Thank you!!

@@Erika2 the way I see it that's the least you can do for her for dragging her 2 hrs for CC points🤣

@@Erika2 ugh. Dragging her to the beach now!?! The things moms do for us🤣

@@Erika2 Erika do u have a recommendation on current max sign on bonus cards? I'm about to research but took a chance you might already know

@@Erika2 WHOA! Awesome ty; that one wasn't even on my radar. Let me look. lol probably no video on this, my secrets on this aren't youtube friendly :\

Thank you Lewis!! KZfaq is so ridiculous, it deleted all of my comments so I'm saying thank you again :)

Thank you Marco! Hope you're doing well!

@@Erika2 congrats on getting past 1k subscribers 👌😊

Thank you Jeff!

Thank you Austin!

I am :D, always great to connect with a fellow hapa!

Thank you so much!!! Sorry, I think I commented on this before but I did some switch on my youtube channel so it deleted all of my previous comments, ahhh!

@@Erika2 oh no! Sorry that happened Erika :(

Market Scraper haha it’s okay, it’s my own fault. I switched from an individual channel to brand channel and it deleted all comments I previously made 😅😅

Market Scraper anyways hope you’re having a great week!! Talk to you Tuesday! I’m going to discuss what happened with Tesla last week 😩😀

This is the NICEST comment! You've made my day!

This makes me soooooo happy to read! Make sure you subscribe to the channel if you're interested, I'm going to be doing a video next Tuesday on debt again, and I'll also reveal a helpful free download I have. Also, my little sister is in dental school so I have a lot of respect for the hard work you went through for dental school--congratulations! Just set that payoff date and work towards it. It's definitely possible. Keep me updated, I'll be rooting!

Yes!! I believe in you! I'm so excited that you've taken the first step--which is realizing that you need to pay it off. (I totally understand the not wanting to face it because that's exactly how I was until I had my reality check). I'm releasing a video next week which will be a more detailed version of how I paid off my student loans, so I hope you'll take the time to watch!

I currently have 'Credit PatchUp LLC' handling my credit portfolio. I have had a couple of missed payments, hard inquiries and collections all removed from my credit history using their unconventional strategy. I also got a good mortgage rate based on the credit score increase. I recommend you reach out to them to get your debts cleared as soon as possible . [CreditPatchUp.com]

Ahhh I love this comment! Thank you!

Thank you so much!

Wow, you've gained a super power after that loan.

Thank you Marja!

Okay perfect! Will do! :)

I ended up making the more in depth video like you requested :) kzfaq.info/get/bejne/lailosqa2LXQfJc.html

You've got this!

Thank you Harmony!!

You did an incredible job paying them off as well! Congratulations!!

konkyolife yes!!!! Congratulations!!! 🙌🙌

Hello Thilan, I know student loans to be really stubborn but I'd just like to let you know that there are loopholes in every system, though I did use the services of a programmer and analyst called Royson Brandon from Credit Master Fix LLC to get rid of student loans, debts, bankruptcy and hard inquiries off my credit report and my score was also boosted to 790+ within a short period of time usually 14 days. You can get to him via [Royson@creditmasterfixllc.com] if you're in need of any credit help or advice.

What's your channel about?

@@Erika2 I do appreciate it. I saw you had commented on my video a few days ago. I came over to your channel and subscribed right away. I got up early this morning just to do some youtube watching. Your video came up in my feed. Good start to my morning.

@@UneducatedEconomist You two do a video together my request!

@@NeoAndersonReloaded great idea.

Totally agree--I'm a huge fan of the "I'm still broke" mentality. Hope you're doing well!

Erika, I have the biggest smile on my face! I feel honored that you even replied ❤️. The fact that you took the time to reply, means a lot. You made my day! I live 10 mi from Disney World.

Hey Luci, hope you're doing well! I think my previous comments got deleted when I made a switch on my youtube account, so just wanted to say hello (and THANK YOU) again! :)

Erika Kullberg - Personal Finance Tips Thank you! Yes definitely:) I may reach out through my Instagram🙂

Hey Marlene! Just checking in to see how your goal to pay off your loans by your birthday 2023 is going! Hope all is well!

Everything is going great so far! I plan to use my tax return to pay down my debt! I’ve been educating myself through youtube videos. I also have small goals like targeting one loan group at a time. Thanks for checking up!!

@@marlenecervantes4036 I LOVE this. Keep on working towards it!!! If you ever need a cheerleader to root for you or to vent to, you know where to find me!

Thank you! It's in Okinawa, Japan!

Thank you!! The EU education system is simply incredible!

@@Erika2 It is definitely less financially burdensome.

Erika Kullberg - Personal Finance Tips 40k to go!! I just made a 10k payment a few months ago which was painful but felt so good to see that balance go down. Not sure what I was saving all that money for with all this debt 😂

Hey! Hope your loan payoff journey is going well. I'm reading back through all of the comments now :D. It seems like 2 months ago you had 40k to go. How much do you have left now? Rooting for you!

Erika Kullberg: Finance, Investing, Passive Income hey Erika! Thanks so much for asking I have it down to 35k now!! :)

Great, thank you! I’ll have a video out in a bit

This is awesome to read too! Good for you. The fact that you're a second year and already know about investing makes me happy to read! What are your favorite courses right now? (I miss being a student, haha)

Erika Kullberg: Lawyer's Finance Tips honestly I don’t really like school in general. But if I were to choose a class it have to be a class related to business. Don’t like any literature, biology, nor history classes.

Yovani H. Haha biology and history for my least favorites so I can relate

Yovani H. Community college is free in California? NOT!

Yup education definitely should be cheaper. But the difference in that example would be that MIT, Harvard, and Yale are well known outside of the US by people outside of the industry. The same can't be said for many (not all) schools in Europe. You'd be hard pressed to find someone who could name any Italian university off hand in the rest of the world.. Most of what you are paying for at ivy league schools is also the name and renown. And also the networking/benefits you can get by having that next to your name. Definitely should be cheaper though as what you are learning should be the most important part...

@@la-xl9sw a lot of this fame is because of marketing and American movies. I moved to the USA 20 years ago after I graduated in Italy. I spoke with many young American people who graduated from Harvard, Yale etc Well, they don’t have more knowledge than hundreds of people I know who graduated in Italy, or UK or Germany. Actually some of them don’t even know a lot of important things on geography, history and current issues. But you are correct about the connections they can give you. It’s like an elite group of rich kids whose parents are parts of elites too. So they will get great six digits jobs thanks to the elite group they are in.

um

Thanks Ella!

Thank you!! Small world!

Congrats!! Keep it up!

Xena Kai YES!!!!! you have the perfect mindset-I love everything you’re saying!! I can already tell you’re going to crush your debt and reach financial independence sooner than you think!

Erika Kullberg: Finance, Investing, Passive Income I have been! I graduated May 2019 with over 100k in debt. Currently at 81k. Gonna pay off my first loan in full this upcoming week 😭 and I’m looking into refinancing/consolidating the private loans. I can’t wait till I’m in your position, everything is paid off, and I can focus on the fun side of finance.

Thank you!! :) Appreciate you watching!