Student loans, extra money, common setbacks, emotional spending and more.

1. Your Student Loan Options When You Can’t Pay Them Back

Brokepedia — Americans owe over $1.2 trillion in student loans. And Alex says “the average college graduate with debt has over $30,000 in student loans.” Unfortunately, many people can’t pay their loan back in a timely manner. That puts additional pressure on their daily lives.

Alex helps by discussing federal student loans and private loans and the many payback programs the federal government offers. One warning, you must qualify for these programs. Read his post and find out if you qualify — then check out this one about 5 Creative Ways to Reduce Student Loan Debt.

2. 45 Ways to Make Extra Money

Natalie Bacon — Let’s make some cash! Natalie separates these into eight categories — everything from “using your health” to “care for other people’s stuff.” For the health category, she says you can take part in clinical trials. For the latter category she recommends caring for other people’s pets.

As far as pets are concerned, I saw an ad offering a doo-doo cleaning service for other people’s pets. The person actually visits the pet’s home and cleans up the yard. Seems a bit crazy, but hey, if it works. Check out the other five categories Natalie provides and then read this post on easy ways to save money.

3. How to Avoid These 5 Common Setbacks and Kill Your Debt For Good

Frugal Rules — Chonce cites a survey that reveals “18 percent of adults believe they will die in debt.” That’s sad. She then points out that many people lose motivation when paying down debt. It takes too long and it’s damn hard, so they stop doing it. Avoid that by using visuals, such as paper chains. She says, cut a chain off every time you pay off some debt. It provides motivation.

The last common setback is overspending. It seems nonsensical, but people keep overspending even when they’re choking on debt. If you fall into this category, Chonce says “consider sticking to an all-cash budget and putting all your credit cards away.” Check out this post on why people fear debt.

4. The 3 Emotions Americans Blame Most for Their Overspending

Money Talks News — We’ve discussed emotional spending many times. Karla found a survey that reveals 49 percent of Americans suffer from this shopping affliction. She also found out that it impacts younger people more than older people — “67 percent of millennials say emotions have caused them to overspend, compared with 29 percent of people age 65 and older.”

What’s also interesting about this post is Karla reveals “the most embarrassing reasons” people charge recklessly. The third place finisher is cash advances. Check out her post for the three emotions that top the list. And then read this post on stress and money.

5. How to Rethink Needs vs. Wants

Be Awesome Not Broke — Many personal finance bloggers believe if you separate wants and needs and cut out most wants, you’ll save money. That sounds like good advice. But Garret says “wants are just an expression of underlying needs!” For example, when you barhop with friends and waste money, you’re expressing a need for companionship.

So how do you solve that problem? He says “think of other, ideally less expensive, ways to satisfy that underlying need.” Hang with friends at your house or apartment. He provides an exercise for you to try and a video fully explaining his philosophy. Read this interesting post about spending less money.

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Article last modified on May 23, 2017. Published by Debt.com, LLC .