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Category Archives: Debt

Tweet A lot of people say you shouldn’t borrow money from family, or that you should draw up complicated documents or have really in-depth conversations about it. I realized that in my family, this isn’t really the way things go. Siblings lend/borrow from each other to take advantage of real estate opportunities or help out […]

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Tweet We hear a lot about the plight of student from law schools, med schools, and other graduate programs who are burdened by drastic amounts of debt (you might remember the studentloanasaurus drawing from that earlier post). Apparently, veterinarians are not exempt from the problem. A New York Times article, “High Debt, Falling Demand Trap New Vets” shed […]

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Tweet There is nothing like being a graduate student who is potentially taking on a lot of loans to appreciate all those student loan articles that surface every fall. New York Times just published a great piece on what it takes to cancel your student loans. As many know, student loans, unlike almost any other type […]

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Tweet When we normally think of student loans, we imagine loans for post-high school education: community college, a bachelor’s degree, graduate school, professional programs, etc. But for some, that is no longer the case. Parents are now taking out student loans for their kids to attend KINDERGARTEN. I am usually 100% do-what-works-for-you, but this just strikes me as […]

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Tweet There’s a big $1-trillion dollar elephant (or, beast, depending on your perspective) in the room. Sometime in the past months, student loans became the biggest non-mortgage consumer debt out there – bigger than credit card debt or auto debt. New York Times recently published an article headlined “A Generation Hobbled by the Soaring Cost of College.” An […]

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Tweet Thanks to a quarterly bonus, my bank account will be getting some extra love in the next paycheck. After 401K deduction and withholding for taxes, I should be seeing a $3,000 windfall. I am really happy about this boost, as I look into the future months and see only cash out without the corresponding cash […]

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Tweet Many personal finance bloggers talk about their diligent debt payoff strategies. I have debt too. When I graduated college I had $19,000 in student loans and a 10-year payment plan. My current student loan balance is $11,160. The truth is, my student loan doesn’t feel like debt. Let me explain. I received my loan […]

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Tweet Several weeks ago I blogged about PlaySpent, an online game that gives a taste of life as the working poor. Today, I went back to the site and played again, and I felt compelled to write a little more about the experience. In my previous post about PlaySpent, several of you pointed out the […]

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Tweet Mathematically, paying down debt and saving up money both require you to spend less than you make. The mechanics of paying off a $10,000 loan vs. saving $10,000 is the same – in both instances, you would have to have $10,000 left over after you have paid for all your necessary expenses. Motivation-wise, though, […]

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Tweet This guest post is by Brad Chaffee,the author of Enemy of Debt, a personal-finance blog about the consequences of unnecessary and excessive personal debt. He believes that personal responsibility is a key to living an extraordinary life. (As a personal aside, Brad is one of the nicest and most helpful bloggers that I have […]

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Tweet Let’s take a hypothetical situation. Let’s say that you are good long-time friends with “Sammy” (that’s a nice, unisex name, right?) Now, one day, a few months ago, you and Sammy had a lunch date at a small neighborhood bistro. You have agreed to split the bill. But before you started ordering, Sammy realized […]

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Tweet …is ending. Just got my first bill from good ‘ol alma mater… the due date for the first payment is January 1, 2008. Happy New Year’s! Time to pay the piper! From now until 2017, I’ll have to commit $160 every month to pay back my college loan. NOT complaining, though, I basically lucked […]

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Tweet You heard that right. I just spoke to the student loan department. It turns out that because my loan was from a private foundation, they have subsdized the interest for the duration of my college education (this I knew), and for the rest of the life of the loan (this I didn’t know and […]

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Tweet For a LONG time, I planned on going to a top law school, specializing in corporate law, and becoming a Big Law partner by the time I’m 35. Yes, I had that life mapped out when I was 13. I like to read, I like to write, I like to nit-pick. I’d be the […]

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