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[quote=Anonymous]OP, I'm a debt-avoider and come at this from that perspective. Don't make life unbearable, but don't let those loans stick around for long. You've been living like a student, keep doing that:

1) Rent a decent but inexpensive place. Life on a metro or bus line and try to avoid that car.

2) Make a budget once your first full paycheck comes through (so you'll know what to expect). If you get paid every 2 weeks, treat it as though you get paid twice a month - every six months you'll get 3 paychecks in a month and you'll be able to save that whole paycheck.

Having a budget means you telling your money where to go, not just watching as it disappears. Lay it all out: rent, utilities, car, student loans, eating out, food, etc.

3) I would contribute to a 401k up to the the match and nothing else until your student loans are gone. I don't care about the interest rate - they're a noose around your neck.

4) Save up a 3 month emergency fund asap. Pay minimums on your student loan until you have that emergency fund funded.

5) Plow into those student loans. Put up a temperature gauge thing on your fridge and mark off your progress as you go. You may come to hate your job at some point, and having the student loans paid off (NO MATTER WHAT INTEREST RATE THEY'RE AT) will provide you the freedom to make choices about your life based on your passions and interests, instead of what you owe Sallie May.

You are young, single (?), and have a huge salary. Don't let this forum make you feel poor - my husband and I and two sons live on 85K in NW DC and we do just fine. 160K is an enormous salary. DO NOT LET THIS OPPORTUNITY TO SAVE PASS YOU BY. Get an emergency fund in place, contribute to the 401k up to the match, and the get those student loans gone.

After that, start investing in a Roth IRA, bulk up to a 6-month emergency fund, and start investing in mutual funds (never single stocks). That's the point you can start saving for a home, too. I'm a real-estate girl, we own 7 rental properties and we love it. But start by just saving up a good 20% down-payment on a home for yourself (maybe with a rental apartment downstairs - you can live in it yourself or rent it out and it will offset a huge amount of your mortgage).

Congratulations on all of your hard work. Don't let it go to waste by living like a fancy lawyer! As Dave Ramsey says, live like nobody else right now so that someday you can live like nobody else! :-)[/quote]

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