Reply to Why aren't you able to live within your means?

Forum Index » Money and Finances

Reply to "Why aren't you able to live within your means?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]Why? I'm a single parent and my ex won't help pay for college for my DD. Even with FA, it's a LOT of money. The cost keeps going up every year and even with loans, it's very tight.[/quote]

So getting a student loan to pay for college expenses is spending above your means now? 😂 [/quote]

DP, but college loans are absolutely a form of spending above your means. I took out loans for law school and it's my number one financial regret in life. Those loans dictated major life decisions for the next 20 years. I remember hesitating about attending law school due to the cost but being told "oh it's good debt, everyone borrows, it's fine." And it is "fine" in that law school elevated my income enough to afford those loans. But the opportunity costs were huge, and the degree to which borrowing that money locked me into certain choices was not something I understood at all at age 23.

Maybe a small loan would be less of a big deal. 10-20k total would be fairly easy to repay and if it's the difference between getting a college degree or not, that's worth it. But education debt is still borrowing, it's still spending tomorrow's money for today's costs, with interests. Yes, it is spending above your means.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics