Other OT-Related Information Balancing debt?

[lilmiscassie92]

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Hello everyone! My question is about balancing debt. I watch/listen to a lot of Dave Ramsey, and I am very frugal. I don't have cable. I drive a slightly older, working vehicle and plan on keeping it for as long as I can. My hobbies include renting library books, Netflix, working out, and hiking. I don't go out to concerts and can't remember how many months it's been since I stepped foot into a movie theater. My boyfriend and I are on the same page about NOT wanting children, and I am okay with not buying a house anytime soon. My family didn't really have a lot of money growing up, so I of course will have debt when I graduate. I always wanted to travel, but told myself I would wait until ALL my debt is paid off when I am X years of age.

However, these past few years, I have seen loved ones lose their lives and good health unexpectedly. This has caused me to look at things differently. I am starting to wonder if it would be feasible to take a "big" trip once in awhile, even if I am paying off debt aggressively for a few years after graduation? I know Dave Ramsey would be yelling "NO" right now, but I just wanted to hear from other students who do have debt. I know there are many of you with other major financial responsibilities including families, so I was wondering if you could give any opinions? Thank you in advance!

 

[CaliKnitter]

I believe that traveling is one of the best things in life. You get to see and experience things that you never could at home. And you'll come back from your trip with great stories and a better perspective on your problems. 🙂

Given your impressive level of self-control for spending, I would guess that you would be able to put together a travel plan that's inexpensive. Those 5am flights are not going to be so fun, but they're cheap. Try doing some research and see how much it will actually cost.


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[deleted517237]

I'm paying back my grad school loans now and am trying to balance saving money for kids, a house, etc. with living life to the fullest in the present. I chose the longest loan repayment period I could (25 yrs). Sure, I could pay them back in 10 years by saving everything and foregoing some fun or extravagant activities. But tomorrow is never guaranteed, and I don't want to spend my prime years just paying loans. OT is great because you can pretty easily pick up a PRN job to supplement your income. I work 2 Saturdays a month extra, which covers my student loan payment and my new car payment. Sure, I could have stuck with my 2005 Toyota and paid more of my loans. But, well, YOLO!