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  1. #61
    Moderator and Blogger boysRsmelly's Avatar
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    Default Re: Need some loan advice

    ^^^ I don't plan too. I'm going to make sure the money is put to good use. I won't really be incurring more debt, but shuffling it around to make it easier in the meantime. Thank you for all your help. I was really scared there for awhile. So I hope everything will turn out well now. All I need to do now is make sure HE stays with his school too.

  2. #62
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    Default Re: Need some loan advice

    Here is a sample budget from CNBC's On The Money

    I don't think it will really apply to you though until AFTER you are both out of college and working in your fields

    On The Money: How to Budget Your Money - On the Money - Latest Posts - CNBC.com

    Money is scary - I get scared all the time and I don't have much debt - so I can imagine. Since my husband is quite a bit older than me I freak out about retirement because I will probably have to go at it alone. Then, I worry that instead of a tax deferred retirement account that I need to put my money in my employer's ROTH 401(k) or contribute to a ROTH IRA on the side. My husband tells me I am nuts because I am "only" 25...but still. If I had debt I don;t think I would be able to function. Getting a mortgage in my name scares me s***less ... but we are working towards buying a house. Luckily, I will probably have a couple of years to adjust to the idea because instead of buying something now, we are saving up for something extremely nice so that we never have to move again.

    I always remember when my mom took me shopping one year when I came back from college. She thought she lost her Credit Card Wallet (yes - she has a separate one) and she was freaking out. I said< "what's the big deal? I have a Visa and Mastercard so I have their numbers on the back of my card so let's call them and get your card cancelled and reissued in a new number now" and she was like "You don't understand - I have over 50 cards!"

    WTF??? How could you have 50 cards? Granted, not all of them carried balances - but 50? I guess she had opened over time several store cards to get the discount and kept them open so she could get special sales deals and stuff.

    Luckily, I looked in the backseat and the thing fell out of her purse and was under the drivers seat.

    I couldn't imagine having that much stuff open!

  3. #63
    Moderator and Blogger boysRsmelly's Avatar
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    Default Re: Need some loan advice

    Well the way I see it, I'm still doing better than my parents (and your mom, since I don't have 50 credit cards). They are relying on their life insurance policies to eventually pay off their debt (e.g. when they die). So basically, when they are gone, my brother and I won't really have much to inherit. My husband and I have what most people would consider a good deal of debt, but nothing like they do. I have felt bothered by it before, but now I'm pretty much used to it. Once I graduate and get a decent job, I doubt I'll have too much trouble paying stuff off though. Just as long as we don't do something stupid, like buying a house right away. My current income is pennies, so a job that paid only $30,000 would probably make me feel like I'm rich. ROFL!!!!

  4. #64
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    Default Re: Need some loan advice

    I was making $10 per hour while in school, and got a job offer in the big city of Memphis for around $40K per year. I was ecstatic.

    That was, until I got my paycheck and realized how much went to taxes. If I wasn't married, I wouldn't have known how to live off that money! Hubby tried to tell me before I accepted the job but I was awestruck.

    Luckily now I make more than that...it was a blessing to get pulled in to TN. Between Nashville and Memphis I have had some great jobs and the cost of living is relatively cheap. I make more here than I was offered in Las Vegas!

  5. #65
    Moderator and Blogger boysRsmelly's Avatar
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    Default Re: Need some loan advice

    Yeah, I know that I would be entering a different tax bracket. But as long as we don't go anywhere, then all our living expenses will be the same.

  6. #66
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    Default Re: Need some loan advice

    Could you find someone that would help you pay for your school while you work for them? I am going back in the fall to get a Masters degree and my employer is paying for part of it...

  7. #67
    Moderator and Blogger boysRsmelly's Avatar
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    Default Re: Need some loan advice

    I don't know. Not a lot of places offer tuition reimbursement around here. Well, except like Verison Wireless and Amigos. You have to work full time at those places though. Working full time just doesn't work very well for me when I'm taking classes. There's no such thing as night classes when it comes to biology.

  8. #68
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    Default Re: Need some loan advice

    I didn't know if there was a FedEx or something there...I know it's not a glamourous job, but sometimes you can load trucks at FedEx for pretty good money/benefits and work during times where you never have class (like third shift)

    The lucky thing for business students is that a lot of programs have night classes. It's sad that more majors don't do it because the truth of the matter is people need to work while they are in school sometimes...

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