33% of People Say Student Loan Debt Has Been Killing Their Sex Drive
Adult people, you know that moment when you’re getting snuggly with your boo… maybe things are, you know, heating up? And then…
You see that family photo on your dresser with your Grandma May smiling right at you.
Yeah. It’s going to be another night of Netflix ’n’ just Netflix.
Student Loan Debt Is Killing Your Libido
Apparently, a grandmother’s watchful eye isn’t the only thing crowding us out of the bedroom these days.
In a recent survey by Student Loan Hero, about a third of respondents said they’ve experienced a low sex drive because of their student loan debt.
You’ve got to get this monkey off your back.
How to Repay Student Loan Debt So You Can Have Sex Again
The last thing you want to worry about when you slip into a new negligee and pour a couple glasses of wine is your next student loan payment.
(See how terrible they sound together just in that sentence? Imagine it in the moment. Yikes.)
Here are three simple steps you can take to get your student loans under control, so you can put them out of your mind and keep your focus on more pressing matters.
1. Keep an Eye on Your Credit Score
You’ll probably want to see how good your credit score looks while you get those student loan payments under control.
I’ve heard self-confidence is a serious libido booster.
You can always request those free credit reports from the bureaus or pay to get your credit score. But it’s the 21st century. These things are much easier now.
To keep an eye on my score, I use Credit Sesame. The free app shows me my TransUnion credit score and a credit report card with monthly updates.
This way, I can see everyone I owe money to — my student loans, my auto loan, that credit card debt from college… Credit Sesame also offers suggestions for ways to improve my credit score, like applying for a secured credit card or refinancing my auto loan for a better interest rate.
I’m not making any guarantees, but you should know my relationship is in excellent shape.
2. Refinance Student Loans to Reduce Your Monthly Payment
Refinancing your student loans basically means replacing your binders full of loans with a single new loan from a private lender. That also means just one monthly payment.
You can see refinancing options through a marketplace like Credible, which will show you offers from a variety of lenders in one place. Checking offers doesn’t ping your credit score, and you won’t be signed up for anything without your consent.
Along with simplifying the process, refinancing could help save you money — today and/or in the long run.
Starting fresh on your loans could help you:
- Owe a lower monthly payment, in case you’re struggling to keep up with payments now.
- Get a lower interest rate, which means you’ll pay less over the life of your loan.
Feeling sexier already? Find your new interest rate and loan options at Credible, and get back in the game, tiger!
3. Start Chipping Away at Your Debt
An app called Qoins can help you get debt-free without really thinking about it.
Qoins rounds up each purchase you make to the nearest dollar. The app tracks the roundups and makes withdrawals in about $5 intervals that it automatically pays toward a debt account of your choice each month.
How it works:
- Add your lender (the account you want to pay off).
- Connect your checking or other bank account.
- Start saving and automatically paying down your debt.
Users report saving an average $50 a month to put toward their debts. Once you sign up, Qoins waits a month before making a deposit on a debt account so you have some extra time to save.
Even better: If you download the app now, you’ll get your first month free. It’s $1.99 a month after that — but that’s worth a good snuggle, right?
4. Bank Extra Cash With a Side Gig
This should tickle your fancy.
Need a fun, flexible way to earn money while also meeting lots of new people?
Try driving with Lyft!
Demand for ride-sharing has been growing like crazy, and it shows no signs of slowing down. To be eligible, you’ll need to be at least 21 years old with a year of driving experience, pass a background check and own a car made in 2007 or later.
Because it’s simple to switch between apps, many Lyft drivers also sign up as a driver partner with Uber.
As a driver partner with Uber, you are an independent contractor. You create your own schedule and work as much or as little as you want.
If you want to give it a try, here are a few of the things to keep in mind: You must be at least 21 years old, have at least one year of licensed driving experience in the U.S. (three years if you are under 23 years old), have a valid US driver’s license and pass a background check.
Also, your car must be a four-door, seat at least four passengers (excluding the driver), be registered in-state and be covered by in-state insurance.
5. Negotiate Your Bills Down
When you need to squeeze a few extra dollars out of your income every month, try negotiating your utility bills down.
Don’t worry; we’re not suggesting you get on the phone with a utility company — talk about a mood killer.
Consider Trim, a bot that works through Facebook Messenger or your text messages.
Trim is basically a free financial assistant. (This is the kind of friend with benefits we get excited about.)
Once you’re connected, you’ll be able to access a dashboard within your Messenger or text conversation with Trim. For example, you’ll see options to:
- Negotiate your Comcast (or other provider) bill down to a lower price.
- View your spending habits.
- Sift through your subscription services to cancel the ones you forgot about or don’t need (‘hem, like that Netflix subscription, now that you’ve got your mojo back…).
Trim also shows your account balance and recent transactions. Want to know how much you spent at Starbucks last month so you can budget better? Just ask the bot.
6. Earn Extra Income — Without Spending Extra Time
One of the best ways to pay off debt is to earn more money. Easier said than done, right?
If you don’t have the luxury of adding a job to your daily schedule, look for creative ways to earn extra money without doing extra work.
Here are a few of our favorite ways:
- Invest without doing anything. An app called Acorns will automatically round up your purchases to the nearest dollar and invest the digital change.
- Share your opinion via paid online surveys. This can be a smart way to turn your commute or waiting-in-line time into a money-maker. Here are some of our favorite places to find paid surveys.
- It turns out deleting your emails could be costing you serious money. Intrigued?
One of our secret weapons is called Paribus — a tool that gets you money back for your online purchases. It’s free to sign up, and once you do, it will scan your email archives for any receipts. If it discovers you’ve purchased something from one of its monitored retailers, it will track the item’s price and help you get a refund anytime there’s a price drop.
Plus, if your guaranteed shipment shows up late, Paribus will help you get money back for what you paid for shipping.
Bankroll in the Hay
I hope these help get you back on track.
I’d hate to think 33% of you are lying in an empty bed worrying about student loan debt. Life’s simply too short.
Dana Sitar ([email protected]) is a senior writer/newsletter editor at The Penny Hoarder. Say hi and tell her a good joke on Twitter @danasitar.