First Full Time Position - Should I focus on paying of my HECS

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I recently graduated my engineering degree and have landed my first job at a consulting company making 85,000 $AUD. I have poor savings habits and want to save a bit of money for trip while also saving for a house deposit / life savings.

I currently have about $1500 in savings and have $41,645 in HECS debt.

My rent is $330 per week and the landlord pays utilities; I spend around $60-100 per week on groceries.

I am planning to pay of my HECS with voluntary repayments to make myself debt free as soon as possible. How should I go about calculating what my voluntary repayments should be/ is it even worth it to make voluntary repayments?

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Profile updated: 8 hours ago

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Ksuisha

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Posted: 8 months ago
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