Catholic Financial Life Blog

Five Tips to Help Pay off Your Student Loan Debt

Posted by Catholic Financial Life

Jul 3, 2017 8:03:30 AM

While many college grads are starting their first real job, that’s not the only thing they might be starting… Student loan payments begin shortly after graduating. Many grads want to become debt-free as soon as possible but knowing how to do so isn’t always obvious.

Check out these five easy tips to help pay off your student loans sooner rather than later.ThinkstockPhotos-518338000.jpg

  1. Earn money on the side
    • Consider picking up a side job or starting your own side business and using that money only for your loan repayment. Use the income from your full-time job for other bills and spending habits.
    • Clean out your home/apartment by having a yard sale or sell things on Ebay. Not only will you earn some extra cash, but you’ll also feel better about having your home less cluttered.
  2. Prioritize and pick what you spend things on
    • Cut out unnecessary expenses such as TV subscriptions like Netflix or Hulu, eating out, frequent shopping trips.
  3. Refinance student loans
    • Refinancing your loan can mean a lower your interest rate, lower monthly payments, and possibly reducing the total cost of your student loan debt. It also has the ability to extend your repayment term.
  4. Don’t carry balances on credit cards
    • If you can’t afford something, wait until you have the money in your checking to pay for it instead of racking up your credit card bill.
  5. Consider enrolling in auto payments
    • Some organizations will give you a lower interest rate if you enroll in their auto payment program. This will also ensure you never miss a payment!


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Topics: Education, College

The Importance of Life Insurance at Every Stage

Posted by Catholic Financial Life

Sep 27, 2015 10:25:00 AM

 A multi-generational family enjoys the benefits of life insurance.

Through all of life's milestones, with every major financial decision, a life insurance policy from Catholic Financial Life is important. If you’re 18 or 81, read to find out why you need life insurance today. 


When you buy a life insurance policy for your newborn infant, you lock in the lowest-possible payment rate, ensuring the best for your child’s future. As your children grow and attend school, you must own a life insurance policy for them for them to be eligible for our scholarships and other educational benefits.

Young adults

It’s no secret that college graduates these days have more debt than ever before. Catholic Financial Life can help you make a financial plan to make the process off paying off these loans as easy as possible. At a young age, life insurance is very affordable and lays the foundation for a life of smart financial decisions.

New families

Newlyweds should purchase a life insurance policy to make sure that in the case of the death of a spouse, the surviving spouse does not have to deal with the burden of paying off bills. When baby makes three, Catholic Financial Life’s policies help new parents protect their income and begin funding their child’s college education. In other important milestones in the life of a new family, such as buying a home, Catholic Financial Life assists in paying off a mortgage and any other debts.

Middle-aged adults

The life insurance you bought as a young adult or newlywed may need sprucing up. Make sure you still have enough and the right kind of coverage. For business owners, a life insurance policy provides the funds necessary to keep your business running even after you die. If you find yourself unemployed at any point in your life, your old employer may have been your life insurance supplier. In that case, you need to purchase a new plan.

Senior Citizens

Make sure you have a life insurance policy to assist with the loss of pension and Social Security. Your coverage will also help your loved ones with your burial and funeral expenses. Charitable people, investing in life insurance now will allow you to leave a generous donation to a church, school, or organization when you pass away. In a similar way, the wealthy can benefit from financial membership with Catholic Financial Life because we can help you pass on your estate efficiently, avoiding large tax payments.

Contact an advisor about our your retirement options

Related Posts:

Protecting Your Young Family With Life Insurance

Congrats! You're a College Graduate! But Life Insurance - Really?

3 Ways to Protect the Ones You Love With Life Insurance

The Financial Reality of Retirement

FAQ: When should I contact my Catholic Financial Life advisor?


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Topics: Catholic Financial Life, Parenting, Financial Literacy, Family, Life Insurance, Graduate, Financial Security, College

How to Start a Conversation that Matters

Posted by Catholic Financial Life

Sep 25, 2015 4:30:00 PM

It’s September, the start of a new school year. Before you know it, your college graduate will head out into the real world to make a difference. It’s never easy for a parent to see a child become more and more independent, only praying that they are ready to be on their own and face the challenges that lay ahead.

Do you have a graduate, a soon-to-be graduate, or recently-graduated graduate? You've probably already had the serious conversations about what their plans are for after graduation and securing a job. But have you talked about life insurance?

Starting a discussion about life insurance is never easy because it involves something we don’t want to talk about—death. What would happen if we suddenly left behind those we love the most? Life insurance isn’t going to benefit you in your lifetime, but it will protect your family in the event of your passing, with you knowing that they will be financially supported even in your absence. ThinkstockPhotos-dv1850043

A recent study revealed that many parents would rather have a discussion with their children about basically anything else—drugs, alcohol, religion, politics, and other taboo topics. But why? Thinking about our own mortality is unsettling, and no one enjoys talking about it, especially with their children. But it’s important for young adults to understand and appreciate the value of financial protection for their future family in the face of an unforeseen life event.

So how do you bring up the topic of life insurance to your loved ones, especially with your matured children?

Here are 3 easy steps to get started:

1. Discuss goals. What would your child like to do with their lives? Do they want a family? What is their dream job? Would they like to buy a house?

2. Now talk finances. How will your child pay for their future? For their travels? For their family? Does their job salary support these?

3. Finally, talk about yourself. Explain why you have your life insurance policy and why you chose it.

Talking about goals and objectives can help frame the conversation around finances and long-term financial planning. This in turn can lead to a dialogue about the importance of having life insurance, especially when it comes to potential parenthood and having dependent children.

Our $250,000 Term  Life protection costs only $20 a month* life insurance really is affordable on an entry-level salary.

But can you really put a price on peace of mind?

Contact an advisor about our your retirement options

*For a healthy 30 year old male.

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Protecting Your Young Family With Life Insurance

Important Financial Tips For Recent College Graduates

12 Resources For The Catholic Individual and Family

5 Steps to Successful Lifestyle Financial Planning

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Topics: Catholic Financial Life, Parenting, Financial Literacy, Education, Family, Life Insurance, Graduate, Financial Security, College

Congrats! You're a College Graduate! But Life Insurance - Really?

Posted by Catholic Financial Life

May 19, 2015 11:27:00 AM

Congratulations – you finally did it! Graduating with a degree after pursuing higher education is no small feat, and you should be proud of all that you’ve done to get that piece of paper. It's a new chapter in your life. Your "real adult life" has become a reality- probably faster than you thought. You might be concerned about finding a “real-life” job so you can afford the lifestyle you've been looking forward to - a nicer car, a bigger apartment -- and of course paying off your college loans. But if your like most new college grads, you're not thinking about purchasing life insurance. (Like really?)


Really--Life insurance is much more important than you think.

Here are 3 reasons why you, as a recent college graduate, should consider a life insurance policy:

  1. Student Loans. God-forbid something would happen to you. But if it did, would your parents or your future/current spouse be left with that debt. Depending on how your college loans were structured and in what state you reside, your loans might become a financial burden for someone else. Taking out a life insurance policy can help protect against this by naming him/her as the beneficiary on your policy.

  2. You’re healthy - now. Okay, so all of those late-night pizza deliveries and skipping the gym to "study" (or watch Netflix) may not have been the healthiest decisions, but you’re young and your health is to your advantage right now. Did you know that you will lock-in cheaper life insurance rates if you purchase a plan while your young and healthy. Life insurance rates increase as you age. If you're thinking of getting married, buying a house, or starting a family someday it's going to be a necessity. Why not purchase while it's less expensive?

  3. It's really pretty cheap - now. Believe it or not, life insurance is very affordable – even for graduates like you who focus on budgeting expenses. To give you an idea of how little it costs, a $250,000 20-year term life Insurance plan from Catholic Financial Life costs about $25 month - for a 25 year old! That’s less than $1 a day.* 

You can do it! Really.

If you'd like to learn more about our life insurance options, contact a Catholic Financial Life advisor in your area.

 Contact an advisor about our your retirement options



*Price of insurance is based on age, amount of coverage, type of plan, health status, and other information. This post is meant to provide general information about insurance. Catholic Financial Life is headquartered in Milwaukee, Wisconsin. Not all products are available in all states. Term 20 Policy Form# ICC10 TRM; 2010 TRM AR; 2010 TRM AZ; 2010 TRM CT; 2010 TRM IL; 2010 TRM ND; 2010 TRM SD.


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Topics: Advent, Life Insurance, Graduate, College