Post-college life

How Refinancing Student Loans Benefits Your Financial and Physical Health

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Post-college life

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It's January, the time of
year when we all strive to be a little bit healthier. When you think about
"healthy living," you may not automatically leap to the topic of your
financial health. The phrase more likely conjures up thoughts of cold-pressed
green juice, kettlebell exercises, and balancing your gut bacteria. But leading
a healthy lifestyle should extend to your finances, too, as taking certain preventive
measures today can actually boost your financial wellness in the future.

How Financial Health Leads to Physical Health

Engaging in financial
self-care can have tangible physical benefits. One study, 
, found a correlation between credit scores and cardiovascular
disease risk, and concluded that the same habits that lead to poor credit
scores might also lead to poor health (and vice-versa). Typically, those who
can make regular payments and consistently manage their debt on an ongoing
basis will be able to 
 of their lives as
well (such as sticking to a healthy lifestyle).

In addition, chronic stress
contributes to a colorful 
, including migraines, ulcers, heart disease, and even cancer, not
to mention the potential psychological damage caused by stress. Student loans
in particular have been proven to be
. Wiping out this source of
worry can improve your physical vitality.

3 Ways to Improve Your
Financial Health Today

 A good credit score is like having a healthy immune system: it
stabilizes and protects your financial health across the board. With good credit comes an 
, from better rates on car insurance to a greater chance of
snagging that dream apartment. By making your monthly loan
repayments more manageable, you'll be more likely to pay them in full and on
time, which is an excellent way to build good credit. And good credit means
more financial freedom in the future. You can read more about

. This is an easy and surprisingly effective tactic for improving
your financial well-being. The set-it-and-forget-it method of automatic
payments for monthly bills (including student loan payments) means that not
only will you avoid the penalty fees that come with late payments, but you'll
also build good credit by making regular payments (see No. 1). What's more, you
can stop experiencing that monthly panic moment, when you'd look at the
calendar and frantically worry that those bills are past due. Removing this one
basic item from your to-do list frees up precious mental space, too, leaving
room and energy for making more important decisions.

. In the most
straightforward sense, refinancing your student loans usually
in the long term. For
example, if you refinance your student loans with CommonBond, you could save thousands
over the life of your loan. Of course, this benefits your financial well-being:
it means more money in your bank account—especially if you save and

In addition, many people
refinance their loans in order to reduce their interest rate, allowing them to
aggressively pay off more of their principal—and ultimately pay off the loan
more quickly. Thus, the looming pressure of student loans will be eliminated
sooner, and less stress is good for everyone.

with CommonBond probably won't free your life of stress
altogether, it can help with this one big stressor, leading to greater peace of
mind (and body . . . and bank account).

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