SoFi Blog

Have you hidden how much student debt you have from friends or partners? Do you feel embarrassed when you think about your balance? Many people feel a sense of shame when it comes to their debt, and student loans are no exception.

In the U.S., 45 million borrowers now have a combined $1.56 trillion in student loan debt. For many people, student loans are the largest chunk of debt they will face in their lives, excluding a mortgage .

While most people are accustomed to going into debt in order to purchase a home, there seems to be more internal baggage associated with carrying around student loans. This shame and feeling of isolation can escalate if you have trouble paying your loans, if you didn’t graduate, or if you are struggling to find a job in your field.

Student loans can certainly feel like a burden and can take years to pay off, but they don’t have to be a source of embarrassment. Instead, you can shift your mindset to see them as an investment, just like a house or car—and, in many ways, better.

If you’re already over the cold winter weather there’s some good news on the horizon: Spring break is almost here. Each year, millions of people pack their bags to head to sunnier, warmer places and live out their vacation dreams. You might think spring break is just for college kids, but guess what?

Not all travelers are 21-years-old and hoping to go to Daytona Beach in April. There are plenty of reasons to travel over spring break. You might be a teacher—whether that’s an elementary school teacher or a college professor—and you can only travel around school breaks. Or maybe you have kids in middle school, and you can only take a vacation during the children’s spring break.

Whatever your reason is for prioritizing a trip this spring, you should know that traveling doesn’t have to mean emptying your wallet. Here are nine places where you can do spring break on a budget.

Bringing home a bundle of joy from the hospital is the start of a new adventure. You’re responsible for a new life and are now party to the ups and downs, the laughter and stress, of raising a child.

If you plan on having kids, you may already be considering how the new addition to your family will factor in financially. From the cost of health and prenatal care, to childbirth, to actually raising your child—things can get expensive. There’s a crib, maybe a new nursery, diapers, formula, clothes, and that’s just the beginning.

Young people are facing unprecedented levels of student loan debt and increasing costs for health care and housing. At the same time, millennial salaries are lower than those of previous generations, partly because many entered the job market after the 2008 recession.

While millennials are having kids later than older generations, a majority still rate being a parent as their most important life goal.

Let Your Goals Be Your Guide

After a somewhat gloomy close to 2018, the New Year has not exactly rewarded investors with warm and fuzzy headlines. Let’s see…first, there was the longest government shutdown in US history, which was hard on the employees who were directly impacted. And with that, the US economy lost an estimated $3 billion that will never be recovered.

Then, across the pond, Great Britain’s Prime Minister suffered a stinging defeat of her Brexit proposal and there is no clear resolution in sight. China’s economy was found to have grown only 6.6% in 2018, its slowest showing since 1990. The IMF also warned that global economic expansion is weakening.

And, oh, and the S&P 500, a broad measure of US stocks, rose 7.8%, which was its best January return since 1987 .

Wait, what? How did that happen?

Way back in 2010, the phrase “there’s an app for that™” was so buzzworthy and ubiquitous, Apple trademarked it. Today, even though Apple owns the phrase, the fact still stands that if you need something, there’s probably an app to assist you with it. This is even true for paying off debt. Debt trackers, loan apps, payoff debt apps… if you’re carrying debt, technology can assist you—right from your phone.

And if you live in America, the likelihood is that you are carrying at least some debt. According to statistics by the ​New York Fed​ , ​total household debt— which includes mortgages, student loans​, car loans, and credit card debt —hit $13.5 trillion in the last quarter of 2018.

According to a TIME analysis of the New York Fed data, those ​under the age of 35 carry the most school debt, with the average millennial household owing $14,800 in student loans. Those between the ages of 45 and 54 had the highest amount of debt overall, at an average of $134,600. And that number is concerning to many, as it may mean more young people will carry debt well into old age.