AFBC on Microtransactions and Their Big Impact on the Wallet

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Microtransactions may seem small-what’s a few dollars here and there? But they’re supposed to seem small. For people with student loans, ways of finding entertainment that are affordable can be very important. But when it starts taking money to progress further with their chosen entertainment, people can be tempted to spend, especially when the amount seems so small at first. American Financial Benefit Center, a document preparation service company, has worked with many student loan borrowers to help them apply for federal repayment plans and recommends keeping a close eye on microtransactions before they get out of hand.

“Even when relaxing, it’s important to keep an eye on how much money is being spent, so as to not come up short when bills are due,” said Sara Molina, manager at AFBC. As a business platform, microtransaction are expected to grow from their $22 billion in revenue generation in 2015, to $32 billion in 2020. A $10 billion increase is impressive, but not every consumer contributing to those numbers can realistically afford to keep putting in money the way they are. It’s much easier to lose track of how much money is being spent when it’s card versus cash, and when there are limited ways to see how much is being spent overall.

Waiting until a card statement at the end of each month to see how much money was spent is a risky way to manage finances. Bills will always be due, but with how long some companies take to charge a billing account, someone could wind up in a financial hole very quickly. Setting a budget and sticking to it may help borrowers affording a bit of leisure while still affording student loan repayment. AFBC has been there for thousands of qualified student loan borrowers to help them through the application process for federal income-driven repayment plans that have potentially lowered their monthly payments and gotten them on track for student loan forgiveness after 20-25 years of remaining in the program. “At AFBC, we believe student loan repayment shouldn’t have to be a struggle, and we do what we can for our clients to make it so that it doesn’t have to be,” said Molina.

Even when relaxing, it's important to keep an eye on how much money is being spent, so as to not come up short when bills are due.

Sara Molina

Manager at AFBC

About American Financial Benefits Center

American Financial Benefits Center is a document preparation company that helps clients apply for federal student loan repayment plans that fit their personal financial and student loan situation. Through its strict customer service guidelines, the company strives for the highest levels of honesty and integrity.

Each AFBC telephone representative has received the Certified Student Loan Professional certification through the International Association of Professional Debt Arbitrators (IAPDA).

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Contact

To learn more about American Financial Benefits Center, please contact:

American Financial Benefits Center

1900 Powell Street #600

Emeryville, CA 94608

1-800-488-1490

info@afbcenter.com

Source: American Financial Benefits Center


Categories: Financial News, Financing and Student Loans

Tags: entertainment, income-driven repayment, microtransactions, student debt, student loan repayment, student loans


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About American Financial Benefits Center

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American Financial Benefits Center works to align each client with the different U.S Department of Education programs available to them based on their income and occupational situation.

American Financial Benefits Center
1900 Powell Street (600)
Emeryville, CA 94608
United States