Getting Started

Time is MoneyLearning how to pay off student loans faster is a simple process.

There are really only a couple things you need to pay back your loans: income and a payment plan. Establishing income is the most difficult part of the process. Not just any job will do to stay afloat. To halt the growing interest on your loans, you’ll need to pay at least the monthly difference on your loans. If you’ve racked up a large sum from your years in college or university, then paying the monthly interest can be difficult, especially at a job with low pay or few hours.

What’s the best way to make money and pay off your debts?

Well, you COULD try to find a high paying job with a lot of hours using the degree you have hopefully earned but that could leave you with very few hours in the day to relax, spend time with family, or hang out with friends. Even then, you could spend over a decade trying to pay back your student loans.  What other alternatives do you have, really? You COULD try to find a large private loan with a lower interest rate than your student loans, but unless you have great credit and/or collateral, you might as well keep wishing on stars.

With a job, the hours you put in directly translate into a predictable paycheck. One unit of effort becomes one unit of pay. What your goal should be is to establish an income stream where one unit of effort becomes multiple units of pay. This is called a “passive income” or a “residual income” and there are many ways to generate this kind of cash flow.

The first thing you need to know about how to generate passive income is that the safer and more reliable a method is, the higher you generally have to pay into it to have it make a decent income. One example of a low risk, low reward investment that requires a large sum of cash to start is a high yield savings account. With this savings account, the APY is set a little higher than normal and you earn more cash at regular intervals. Starting with $100,000 and a 1% APY, you earn only $1,000 a year…minus monthly fees if applicable.

So, knowing this, how can you best leverage your time and effort for maximum profit? I’ve found that affiliate marketing can create a decently reliable source of passive income. The best part is that you don’t have to spend a ton of money to get started with affiliate marketing. You can typically get started for under $25, but the more money you have to put into it, the faster you’ll start making your residual income. Affiliate marketing isn’t difficult. Setting up a website is super easy these days and you can have your own site up in under a minute with the right tools. All you really need is the ability to research information on the internet and some creative writing skills or have the cash to pay other people to do the writing for you.

If the concept of affiliate marketing is completely new to you, then I recommend joining a community to get you started.

Scaling IncomeThe program I started with was Wealthy Affiliate. You can start your membership with $0 investment and it will give you the tools and lessons you need to start your first couple websites. WA has a great community of members as well who are ready and willing to help you out on your path to passive income through affiliate marketing. If you have any questions, someone is almost always there to answer you quickly. The lessons are pretty straightforward and easy to follow, though, so you may not even end up having that many questions.

You know what’s even better about affiliate marketing? You can compound your effort with multiple websites to create many streams of income that require minimal upkeep to continue generating cash. That’s right, you lay the foundation out for one website, have a few posts written and schedule them to post on your blog and your site will pull in visitors regularly. You’ll find all the details necessary to run a successful passive income website on WA. If this program interests you, I encourage you to take a look and get started today. Like I said before, it costs $0 to create your starter membership.

After your income is established, creating a payment plan is easy. You merely budget for rent, bills, food, gas, and whatever other monthly expenses you have. Factor in cash for leisure activities. Put aside a little bit of money to reinvest in building your income streams, and then put a reasonable amount of what’s left towards paying back your student loans. The amount you pay each month can vary based on your earnings, but that should get you well on your way towards paying off your student debt.

For more information on Affiliate Marketing, visit: What is Affiliate Marketing and Does It Work?

Keep an eye out for future posts on generating cash flow! Also, feel free to comment your thoughts and ideas below and I’ll get to them as soon as I can.


Thanks for reading,


Founder of

6 thoughts on “Getting Started

  1. Reply
    Karen Biddix - January 23, 2017

    This is a very helpful site, and paying off college loans is getting harder all the time. I believe Wealthy Affiliate would be a great way to make money to pay off loans, Its not a get rich scheme but one you get it going and keep it going you will be set for life.

    1. Reply
      Nigel - January 23, 2017

      I definitely agree with you. College loans ARE getting harder to pay as the days go by. Without the proper tools or knowledge, one might never break free from the educational debt that college/university burdens us with. I’m just glad that WA provides such a great opportunity for people to make money with their spare time. 🙂

  2. Reply
    Mike - January 24, 2017

    Student loans are a black cloud. Starting a small business and sticking to it is a great way to blow that cloud away.

    1. Reply
      Nigel - January 24, 2017

      I completely agree with you, Mike.

  3. Reply
    Earnest - January 24, 2017

    Mike this article is great,the niche is great.And to tell the truth I am one of those thats trying to pay off my student loan,so i think I made the right choice of joining wa

    1. Reply
      Nigel - January 24, 2017

      Joining WA was definitely a step in the right direction for me. 🙂

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