Many of us could be on the same boat! Ask yourself, does your earnings match what you owe? If not, how do you ever expect to pay debts off? Here is a serious question?
Is school worth going into debt for? Better yet, Is the value of school, by using loans and having debt, worth the risk of never getting out of debt?
Raised in a pretty traditional family, I was always taught, "Don't buy anything unless it's with cash." Students buy education on credit or with loans, but would they ever get a car they knew they couldn't afford with the same worth? A house? Anything? This is a matter of debate, depending on different personal scenarios and situations, but as for me, I refuse to go into debt for school!
Read up on current situations that will fine-tune your thoughts! Here is one that did it for me-
https://www.ksl.com/?sid=36816674&nid=157&title=a-multigenerational-hit-student-debt-traps-parents-and-kids
I agree that one should never buy something without having the cash to back up his or her spending. However, I also believe that there are certain things that are worth taking out debt for: school, first car, etc. However, I also believe that if one must take out debt, they should put every resource towards paying off that debt. This means sacrificing things such as fancy dinners, high-brand cars, and other luxuries.
ReplyDelete