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Debt


#00Buck
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Who do you owe money to?  

48 members have voted

  1. 1. Who do you owe money to? (choose as many as relevant)

    • Student Loans
      16
    • Car Payments
      3
    • Mortgage
      6
    • Unpaid Rent
      0
    • Unpaid Utilities
      0
    • Credit Cards
      6
    • Friends
      3
    • Family
      4
    • Unpaid Taxes / The Government
      4
    • Bad People
      1
    • Medical Bills
      4
    • Fines / Bail / Bond
      0
    • I don't owe anyone anything.
      22


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I am very fortunate to have zero debt! I have done everything in my power to limit liabilities and compound assets for pretty much my entire adult life. There is no reason why you all can't be debt free, just become financially-educated! 

(Man I sound like a self-help book, but its true! :P)

Edited by Ieono
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1 minute ago, Ieono said:

I am very fortunate to have zero debt! I have done everything in my power to limit liabilities and compound assets for pretty much my entire adult life. There is no reason why you all can't be debt free, just become financially-educated! 

(Man I sound like a self-help book, but its true! :P)

I disagree with that. Anyone who tries to go to college in the US and deal with our fucked up scholarship/student loan system is going to come away with debt regardless of what they do. I'm about....4k in debt? And that's just from one full year of attending classes. It's made me decide not to go back cause I really don't want to be about 20k minimum in debt for a degree that doesn't make a lot of money.

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Just now, GamingGal said:

I disagree with that. Anyone who tries to go to college in the US and deal with our fucked up scholarship/student loan system is going to come away with debt regardless of what they do. I'm about....4k in debt? And that's just from one full year of attending classes. It's made me decide not to go back cause I really don't want to be about 20k minimum in debt for a degree that doesn't make a lot of money.

I have two undergraduate degrees, and have managed to be debt-free regardless. I understand that many people feel that they cannot work while going to school, but I have done so, and have been able to pay for much of my schooling out of pocket. 

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1 minute ago, Ieono said:

I have two undergraduate degrees, and have managed to be debt-free regardless. I understand that many people feel that they cannot work while going to school, but I have done so, and have been able to pay for much of my schooling out of pocket. 

Did you live with your parents sometime during schooling, had a car, and to to school somewhere local? Things like that can make that route you took much easier. 

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2 minutes ago, Ieono said:

I have two undergraduate degrees, and have managed to be debt-free regardless. I understand that many people feel that they cannot work while going to school, but I have done so, and have been able to pay for much of my schooling out of pocket. 

You are the exception. I have a friend with a computer science degree (masters) and he's nearly $80k in debt.

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Just now, Lemon said:

Did you live with your parents sometime during schooling, had a car, and to to school somewhere local? Things like that can make that route you took much easier. 

I haven't lived with relatives since I was in high school, I don't own a car, but yes, my colleges were nearby. I just think it boils down to how much work you are wiling to deal with. I'm just one of those crazies that loves having a crazy amount of work to do! Not so much to do these days, but that's what hard, skiled work gets you, best case scenario. 

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14 minutes ago, Mr.Kumquat said:

I just paid my last medical bill. Owed about $2000 in medical bills after needing stitches in my left hand. Yay not having insurance in the US! 

As a Canadian, I am literally unable to fathom stitches costing one anything more than 8hrs in the emergency room.  It's like trying to imagine a toll just to use the city sidewalks. @_@

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15 minutes ago, Ieono said:

I am very fortunate to have zero debt! I have done everything in my power to limit liabilities and compound assets for pretty much my entire adult life. There is no reason why you all can't be debt free, just become financially-educated! 

(Man I sound like a self-help book, but its true! :P)

Vote in the poll yo.

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8 minutes ago, Ieono said:

I have two undergraduate degrees, and have managed to be debt-free regardless. I understand that many people feel that they cannot work while going to school, but I have done so, and have been able to pay for much of my schooling out of pocket. 

Assuming that you can even find a job that pays a decent amount straight out of highschool,
college is also stupid expensive in the US.

You must have a hell of a connection network to just go "lol people should just get more jobs ¯\_(ツ)_/¯"

Edited by Vae
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15 minutes ago, Mr.Kumquat said:

I just paid my last medical bill. Owed about $2000 in medical bills after needing stitches in my left hand. Yay not having insurance in the US! 

At least you still have your hand. 

5 minutes ago, Sylver said:

I have over 20k in debt for student loans and I still have 1-2 years left.

Better not be gender studies.

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1 minute ago, Ieono said:

I haven't lived with relatives since I was in high school, I don't own a car, but yes, my colleges were nearby. I just think it boils down to how much work you are wiling to deal with. I'm just one of those crazies that loves having a crazy amount of work to do! Not so much to do these days, but that's what hard, skiled work gets you, best case scenario. 

Many folks will have to disagree with you on that. I have worked very hard, for instance, and I'm looking at 60 large in student debt, 1.6k credit cards, etc. I've maintained a 3.8 almost, but had to deal with things like mental illness, therapy, family strife, homelessness.. 

I'm not faulting the idea that 'anyone if they work hard can succeed', but not agreeing with the idea that since you did with ease, those who haven't have 'failed' in some way. You feel?

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3 minutes ago, Ieono said:

I have two undergraduate degrees, and have managed to be debt-free regardless. I understand that many people feel that they cannot work while going to school, but I have done so, and have been able to pay for much of my schooling out of pocket. 

I worked while in school, 40 hours a week. I rented an apartment with a roommate and paid for gas for my car, which luckily was paid off. I also bought my own groceries and took care of any random curveballs life would throw. My parents did not help me because they weren't financially able. When applying for FAFSA, I was denied funds because I'm still considered "dependent" on my parents till 24 (which is federal law) and they said my parents made too much money to warrant giving me grants. The only option I had was loans.

At the job I'm in now, I make way more than I did before, but it's still going to take a large amount of time to pay off my loans due to continuing interest and being able to pay for my other life bills as well. I still work about 30 hours a week and I take pet sitting gigs when offers arise. I'm still supporting myself and I have been since I was 18. I don't spend money on luxuries that often either.

It's not about working hard and "lol getting a job" it's about how the U.S. fucks over students and gives them a lifetime of debt.

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Oh right, serious answer; bout $16 000 in student debt at Prime+1%.  Though I find the situation pretty good.  Tuition cost around $28 000, I got $11 000 in grants, $6500 in bursaries, and this year my tax rebate with all my tuition credits (I shit you not, I get tax credit for the $11 000 that I never even had to pay!) will be $5600 this year plus the $1700 it got me last tax year (Didn't PAY enough taxes to get that much but the credit carried over to this year) School cost me... *Counts* $3200?  Oh and my cost of living and rent was paid for while at school.  Though I haven't factored in equipment and text books, but... Yeah.

Edit: Oh wait, I still have tuition credits carrying over to NEXT year (Because I STILL haven't paid enough taxes to use them all up.  WAH HA HA HA HA! :V)  Should be in the range of $1500-$2000 I'll get back in 2017.

So let's change that final number to $1200-$1700... For three years of school. ^_^;

Edited by AshleyAshes
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2 minutes ago, GamingGal said:

I worked while in school, 40 hours a week. I rented an apartment with a roommate and paid for gas for my car, which luckily was paid off. I also bought my own groceries and took care of any random curveballs life would throw. My parents did not help me because they weren't financially able. When applying for FAFSA, I was denied funds because I'm still considered "dependent" on my parents till 24 (which is federal law) and they said my parents made too much money to warrant giving me grants. The only option I had was loans.

At the job I'm in now, I make way more than I did before, but it's still going to take a large amount of time to pay off my loans due to continuing interest and being able to pay for my other life bills as well. I still work about 30 hours a week and I take pet sitting gigs when offers arise. I'm still supporting myself and I have been since I was 18. I don't spend money on luxuries that often either.

It's not about working hard and "lol getting a job" it's about how the U.S. fucks over students and gives them a lifetime of debt.

School is optional. You choose to go. Nobody puts a gun to your head and makes you pay tuition fees. 

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Eeeek, I was just throwing a bit of advice out there. I can't know your situations, I just know what worked for me, and a fair number of people I've worked with over the years! I owe a lot of my success to planning, which was a result of my own misfortunes once I got out of high school. I truly believe that the key to success is not only knowing HOW to succeed, but planning your future accordingly. I've been fortunate to have skilled labor professions for a long time, and they tend to pay pretty well, even in America.

I don't mean to judge people who are in debt, or say that anyone is "failing" for being in debt, I'm just sharing my experiences. No need to be overcritical of anyone that isn't hurting anyone else! 

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Just now, #00Buck said:

School is optional. You choose to go. Nobody puts a gun to your head and makes you pay tuition fees. 

True, I did choose to go, but I made the choice after being force-fed the idea that you NEED to go to be successful. Get a degree! Make money! It's all you hear in the high schools. After a year in school I've come to the realization that I don't technically need the degree for the career path I plan to work towards. But what about those who need the degree? Say, nurses and techies? They need the degree and have to pay one way or the other for them.

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1 minute ago, GamingGal said:

True, I did choose to go, but I made the choice after being force-fed the idea that you NEED to go to be successful. Get a degree! Make money! It's all you hear in the high schools. After a year in school I've come to the realization that I don't technically need the degree for the career path I plan to work towards. But what about those who need the degree? Say, nurses and techies? They need the degree and have to pay one way or the other for them.

Yeah, but there's no rule that says you have to go into debt to do it.

Young people can't delay gratification on anything. They have to have it all NOW!!!

Why not work for a few years and save up the money? Then go to school and graduate debt free?

Nah! That's too practical and make too much sense. 

Edited by #00Buck
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Just now, #00Buck said:

Yeah, but there's no rule that says you have to go into debt to do it.

Young people can't delay gratification on anything. They have to have it all NOW!!!

Why not work for a few years and save up the money? Then go to school and graduate debt free?

Nah! That's too practical and make too much sense. 

So you're saying people should save up about 20k before going to school? Do you know how long that would take? Definitely more than a few years with a minimum wage job while affording life bills.

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Just now, Mr.Kumquat said:

It scared the hell out of me! I still have blood stains on my carpet from the incident. Took me about  hours before i decided the bleeding wasn't going to stop and i should get to the ER.

Yeah, but it must have been a very effective cry for help.

I'm sure you got sympathy for at least weeks afterwards. 

It's hard to upstage you.

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3 minutes ago, GamingGal said:

Say, nurses and techies? They need the degree and have to pay one way or the other for them.

Nurses have fairly secure employment and are fairly well protected by their unions which is something a large number of employed people can't say.  Student debt racked up in pursuit of a career in medicine generally is a wise long term investment.

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2 minutes ago, #00Buck said:

Yeah, but there's no rule that says you have to go into debt to do it.

Young people can't delay gratification on anything. They have to have it all NOW!!!

Why not work for a few years and save up the money? Then go to school and graduate debt free?

Nah! That's too practical and make too much sense. 

Easy if you're already making a decent living. Unfortunately now an associates degree has become the new high school diploma. Without one, you are lucky to make more than minimum wage. 

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Just now, GamingGal said:

So you're saying people should save up about 20k before going to school? Do you know how long that would take? Definitely more than a few years with a minimum wage job while affording life bills.

So what? People live to be 100 this days. Time is on you side.

Besides what is the advantage to starting your life riddled with debt? 

There is no upside to the way you're doing it.

Just now, Mr.Kumquat said:

Easy if you're already making a decent living. Unfortunately now an associates degree has become the new high school diploma. Without one, you are lucky to make more than minimum wage. 

There are plenty of great paying jobs and careers that pay very well and require very little education. 

Get one of those jobs. Save your money. Go back to school.

Repeat until you have the life you want. 

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2 minutes ago, #00Buck said:

Yeah, but it must have been a very effective cry for help.

I'm sure you got sympathy for at least weeks afterwards. 

It's hard to upstage you.

 

2 minutes ago, #00Buck said:

Yeah, but it must have been a very effective cry for help.

I'm sure you got sympathy for at least weeks afterwards. 

It's hard to upstage you.

Yeah, everyone responded to my cry for help after slipping with a knife while making dinner for myself.

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Something I've noticed in this thread where people are either saying 'UNIVERSITY IS A SCAM!  JUST GIVE UP NOW OR TRY TO GO IT ALONE!' vs the people saying that 'University is required to even get anywhere!'.  Has either side of this debate ever heard of skilled trades?  These are fairly reliable fields and pay better than a LOT of jobs.  How about how we talk about how skilled trades are somehow 'shunned' professions by most people? 

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I have some medical bills that went to collections around 2008, when I was unemployed for about a year. I don't owe anything aside from that, though. I didn't go to college since I felt it was a waste of time for what I wanted to do, and I was right. Some of my co-workers went to college and got degrees in other fields not even related to what we do, and it didn't even benefit them getting hired. So they just owe money on a degree that was useless. 

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Student Loans.

When I went to school, the Native American Scholarship plus FAFSA didn't include books and some of my tuition costs, so I had to take out money. Because I am a State Employee, some of that got subsidized. For now, paying interest until I can sell my Grandfather's estate to cover the remainder. 

with college,  you aren't forced to go, but people go due to pressure that having a degree will get you a good job. It doesn't unless you make connections early on and/or have a good foot in the door for a good paying job. Trade schools are more of a benefit for demand jobs like Shipyard welding, electrician, etc. The jobs a lot of people considered low-end grunt work back in the day. 

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4 minutes ago, AshleyAshes said:

Something I've noticed in this thread where people are either saying 'UNIVERSITY IS A SCAM!  JUST GIVE UP NOW OR TRY TO GO IT ALONE!' vs the people saying that 'University is required to even get anywhere!'.  Has either side of this debate ever heard of skilled trades?  These are fairly reliable fields and pay better than a LOT of jobs.  How about how we talk about how skilled trades are somehow 'shunned' professions by most people? 

Welding is in demand around here.

$35 an hour plus benefits.

It does not take four years of university to learn how to lay down a nice bead with a welder.

You could weld for a few years. Buy a car, furniture, save up to go to university. 

Or plunge deep into debt for a degree that may never lead to a job. Your choice. 

Edited by #00Buck
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Just now, #00Buck said:

Welding is in demand around here.

$35 an hour plus benefits.

It does not take four years of university to learn how to lay down a nice bead with a welder.

You could weld for a few years. Buy a car, furniture, same up to go to university. 

Or plunge deep into debt for a degree that may never lead to a job. Your choice. 

Or even just keep welding.  Bigger projects can pay like $50/hr.  There are places so desperate for skilled trades they're paying MORE to bring in foreign workers to do the work because the pool is shallow.  Ya know, because Canadian's are somehow 'too good' to be 'mere' electricians.

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2 minutes ago, #00Buck said:
2 minutes ago, #00Buck said:

Welding is in demand around here.

$35 an hour plus benefits.

It does not take four years of university to learn how to lay down a nice bead with a welder.

You could weld for a few years. Buy a car, furniture, same up to go to university. 

Or plunge deep into debt for a degree that may never lead to a job. Your choice. 

I'd hope so. The screaming and blood would attract a lot of attention. 

While you're making $35 an hour someone is going to school to be an engineer. And sure, for a few years the welder is making more. But soon enough the engineer is making 10 times what the welder makes. This is the world we live in.

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2 minutes ago, AshleyAshes said:

Or even just keep welding.  Bigger projects can pay like $50/hr.  There are places so desperate for skilled trades they're paying MORE to bring in foreign workers to do the work because the pool is shallow.  Ya know, because Canadian's are somehow 'too good' to be 'mere' electricians.

Some of the wealthiest people I know are carpenters, electricians, plumbers, HVAC, cement Pre-Cast, CNC Machinist, machine operators etc. 

Yet young people turn up their noses at these careers.

Then end up serving these right guys their morning coffee with a Masters Degree.

1 minute ago, Mr.Kumquat said:

While you're making $35 an hour someone is going to school to be an engineer. And sure, for a few years the welder is making more. But soon enough the engineer is making 10 times what the welder makes. This is the world we live in.

So you are an engineer? 

You can go back to school to study engineering.

They are outsourcing that stuff to India now.

My argument is still valid and very practical. 

Edited by #00Buck
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1 minute ago, Mr.Kumquat said:

While you're making $35 an hour someone is going to school to be an engineer. And sure, for a few years the welder is making more. But soon enough the engineer is making 10 times what the welder makes. This is the world we live in.

What percentage of engineers to you believe are earning $350/hr...?  (That's $728 000/year, BTW)  Look, I'm just saying... I'm not quite sure that's the median income for engineers...

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1 minute ago, #00Buck said:

Some of the wealthiest people I know are carpenters, electricians, plumbers, HVAC, cement Pre-Cast, CNC Machinist, machine operators etc. 

Yet young people turn up their noses at these careers.

Then end up serving these right guys their morning coffee with a Masters Degree.

So you are an engineer? 

I'm an aircraft mechanic. Spent time in the US military so i have my 2 year degree and FAA cert paid for. Doesn't change the fact that more school typically means more money in the long run for almost everyone.

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Just now, #00Buck said:

Some of the wealthiest people I know are carpenters, electricians, plumbers, HVAC, cement Pre-Cast, CNC Machinist, machine operators etc. 

Yet young people turn up their noses at these careers.

Then end up serving these right guys their morning coffee with a Masters Degree.

But what if that's something you're completely uninterested in? Just suck it up and do it for the money anyways? Or work a minimum wage job for who knows how many years to be able to save money?

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6 minutes ago, AshleyAshes said:

What percentage of engineers to you believe are earning $350/hr...?  (That's $728 000/year, BTW)  Look, I'm just saying... I'm not quite sure that's the median income for engineers...

The Median for Engineers is about 66K min for entry level.

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1 minute ago, GamingGal said:

But what if that's something you're completely uninterested in? Just suck it up and do it for the money anyways? Or work a minimum wage job for who knows how many years to be able to save money?

...Aren't most minimum wage workers ALSO sucking it up and doing it for the money?  Does anyone grow up saying 'When I grow up I want to be a barista!  Or maybe answer customer support calls for AT&T!"?

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4 minutes ago, AshleyAshes said:

What percentage of engineers to you believe are earning $350/hr...?  (That's $728 000/year, BTW)  Look, I'm just saying... I'm not quite sure that's the median income for engineers...

In fact i know many wealthy engineers. I live near Seattle where Boeing is prominent. 

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3 minutes ago, GamingGal said:

But what if that's something you're completely uninterested in? Just suck it up and do it for the money anyways? Or work a minimum wage job for who knows how many years to be able to save money?

Don't open that can of worms. It's already a STEM and trade circlejerk in here. 

Obviously, making as much money as possible and saying fuck you to your interests is most important. 

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Just now, AshleyAshes said:

...Aren't most minimum wage workers ALSO sucking it up and doing it for the money?  Does anyone grow up saying 'When I grow up I want to be a barista!  Or maybe answer customer support calls for AT&T!"?

Yeah, they are. I'm a server and, while I love my job, I'm still doing it for the money until I can pursue my true passion. But the difference is to be a min wage worker you don't need a degree, so you're not losing anything when you take one of those jobs. If you do what Buck is suggesting by going to a trade school as a first step or whatever, you still need to pay tuition and fees. And I don't see why you should do that if it's not what you really want to do.

Edited by GamingGal
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