Managing my debt... - Toyota Yaris Forums

supmet · 11-01-2009, 01:54 PM

Quote:

Originally Posted by Sodium Duck

..Or I could just pay the minimums every month and not have a life until 2019...

No, the proper American Dream is to not have a life ever again. Be sure to get under a mountain of debt with a mortgage before you pay any of this off. Ideally you should never be able to pay off what you owe by the time you are 25, that way you'll be stuck paying interest and taxes for the rest of your life.

2+2 · 11-01-2009, 01:58 PM

I don't understand this thread even a little.

If managing the debt is not an issue why ask which loan to pay off first? Isn't the one with the highest interest rate the one that charges the most interest? I'm feeling extra dumb.

Bob Dog · 11-01-2009, 02:06 PM

Work your ass off (1 1/2 or 2 jobs, or one many hour job)for about 4 years or be in debt forever. Live an absloute minimal lifestyle as every dollar you spend now will ultimately cost you many compounded dollars later on. I worked as I went to school and lived very cheaply, without a vehicle, and with just minimum possessions and very cheap housing. I took 6 years to get my 4 year degree and graduated debt free. I recommend it.

nemelek · 11-01-2009, 03:44 PM

Quote:

Originally Posted by Bob Dog

Work your ass off (1 1/2 or 2 jobs, or one many hour job)for about 4 years or be in debt forever. Live an absloute minimal lifestyle as every dollar you spend now will ultimately cost you many compounded dollars later on. I worked as I went to school and lived very cheaply, without a vehicle, and with just minimum possessions and very cheap housing. I took 6 years to get my 4 year degree and graduated debt free. I recommend it.

Great for you! Many kids from high school never worked going into or while at college. The loan money piles up and the thought that one killer job will erase the debt in no time. The reality is that the entry level jobs for graduates will pay for basic living expences and not much else.

JBougie · 11-02-2009, 02:01 AM

Quote:

Originally Posted by supmet

No, the proper American Dream is to not have a life ever again. Be sure to get under a mountain of debt with a mortgage before you pay any of this off. Ideally you should never be able to pay off what you owe by the time you are 25, that way you'll be stuck paying interest and taxes for the rest of your life.

.....you forgot to add 'you can't really afford in the first place' after 'Be sure to get under a mountain of debt with a mortgage..'

goku87 · 11-02-2009, 10:45 PM

Quote:

Originally Posted by nemelek

...Marry some one with money.

Quote:

Originally Posted by supmet

No, the proper American Dream is to not have a life ever again. Be sure to get under a mountain of debt with a mortgage before you pay any of this off. Ideally you should never be able to pay off what you owe by the time you are 25, that way you'll be stuck paying interest and taxes for the rest of your life.

Don't forget, eat lots and lots of ramen.

11-01-2009, 01:58 PM	#2
2+2 Drives: 09 3Dr Manual Join Date: Jul 2009 Location: Michigan Posts: 210	I don't understand this thread even a little. If managing the debt is not an issue why ask which loan to pay off first? Isn't the one with the highest interest rate the one that charges the most interest? I'm feeling extra dumb. __________________ Just put the pedal down and let the devil take the hindquarters.

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Bob Dog DARK PHASE OF THE MOON Drives: 07 liftback Join Date: Apr 2009 Location: the Boondocks, NC Posts: 993	Work your ass off (1 1/2 or 2 jobs, or one many hour job)for about 4 years or be in debt forever. Live an absloute minimal lifestyle as every dollar you spend now will ultimately cost you many compounded dollars later on. I worked as I went to school and lived very cheaply, without a vehicle, and with just minimum possessions and very cheap housing. I took 6 years to get my 4 year degree and graduated debt free. I recommend it.