Prevent mney mistakes today, and save big bucks tomorrow. Print Email PagesPrevious 16 of 18 Next View All 8. While you’re out of work, you don’t pay your student loan HOW IT HURTS: You damage your credit rating and pay extra interest and penalties. Plus, the IRS might garnish your wages and tax refunds until you are paid up. Related Links Save Money on Your Major BillsHow to Save More Cash (Now and in the Future!)Got bad credit? Bail yourself out.