What’s the shiny new accessory that most junior lawyers are wearing around town these days? Why, golden handcuffs, of course — courtesy of the rising price of law school. A vast majority of law school graduates are now facing $50,000-$75,000 in student loan debt repayment, making effective debt management a chief concern and a harsh reality for neophyte lawyers everywhere. Ultimately, making student loan debt repayment a priority will give you the freedom to make new career choices (such as taking up public interest law or switching to a “lifestyle” firm) that might be otherwise unrealistic.

So, how do you get rid of that student loan debt faster? The answer to the question may just be a simple matter of common sense and self discipline. First and foremost, don’t let those big paychecks fool you into leading a lifestyle you really cannot afford. Remember that that paycheck came with a price tag. Here are a few tips that will help you avoid blowing your newfound earnings and get you on the path of loosening those handcuffs:

• Take a good look at your loan repayment plan. Choose one that covers the monthly interest while paying down a decent portion of the principle. While those short-term “interest only” payment plans carry lower payments, avoid them if you can. Otherwise, after a couple of years, you’re still exactly where you started and nowhere closer to making the career switch you desire.

• Do your best to throw in a little extra with each monthly payment, especially on those high interest private loans. Send the extra payment separately, stating that it should be applied to the principle of a particular loan. Otherwise, your payment may automatically go to the accrued interest instead of the principle. Make yourself a simple template to go with the extra payments, filling in the blanks each month. While an extra $75 may not seem like much, it will certainly reduce your interest payments over time.

• Look into consolidating your federal loans. While there can be pitfalls in doing this (to be discussed at a later date), the benefits include (i) fixing a permanent low interest rate on your federal student loans, depending on when you consolidate and (ii) getting one bill from one company each month.

• Take a long hard look at your budget. You can find extra money to pay off those loans in all sorts of places. For example, take “light” vacations. Stay domestic instead of going to Fiji, or, at the very least, make an exotic vacation an exception and not the rule. You can also embrace public transportation – it’s a beautiful thing. Another habit that can easily break the bank is eating at the office. While most firms will reimburse you for dinner if you stay past a certain hour, they rarely pay for breakfast and lunch despite the fact that you are often glued to your desk at mealtime. As a New Yorker, I easily saved over $50 a week when I started bringing lunch to work. What you save here can be redirected to your student loans.

• If you’re fortunate enough to receive an annual bonus, dog-ear a significant portion of that bonus for those student loans. A thousand dollars toward the principle will result in a significant reduction of interest payments, and shorten the overall amount of time it will take you to pay off your loans.

While it seems easier said than done, exercising a little more self control when you see that paycheck hit your bank account will result in tangible long term benefits…especially when it comes to your career options.