The Debt Shrink’s Story

Internship was a Tough Year

I just moved to a new state for internship. My husband left his job to move with me. When we arrived I found out that I was pregnant (panic!). After 5 years of graduate school, would I be able to graduate? How would I pay the medical bills? We had no family nearby – who would help with the baby? Continue reading The Debt Shrink’s Story

Free Events: Museum Day and Every Kid in a Park

Maybe you’ve recently moved to a new area and want to explore the city for free with your equally broke friends. Maybe you have a large family and even relatively inexpensive activities turn into fifty dollars for you all to just walk through the door. Or maybe you’ve been living a Fancy Pants lifestyle and are getting bored with the high-priced trendy speakeasies and want to experience what it’s like in the exciting life of the Debt Shrink. Continue reading Free Events: Museum Day and Every Kid in a Park

Budgeting for Post-Doc and Early Career

Post-doc can be one of the most financially challenging times in your life. You’ll be making more money than in grad school, but not as much as a staff position. Student loan payments start six months after graduation and you will have a number of other expenses as you start your career.

Continue reading Budgeting for Post-Doc and Early Career

Avoiding Lifestyle Inflation is Key to Getting Out of Debt

Want to know the secret to how I paid off my student loans (and car loans and medical bills)within three years of graduating while also being the sole earner in my family? The answer: I avoided lifestyle inflation and focused on one thing at a time. Continue reading Avoiding Lifestyle Inflation is Key to Getting Out of Debt

Student Loan Debt for Psychologists: PhD vs. PsyD

A survey of grad students and early-career psychologists by Doran and colleagues (2016) found that 43.1% of respondents had undergraduate student loan debt and 78.7% accrued graduate school debt. Of the graduate students in the sample, their expected total (undergrad and grad school) median debt was $120,000.

Continue reading Student Loan Debt for Psychologists: PhD vs. PsyD