By Kelly Bridgewater
Do you believe someone’s debt should just be wiped clean? Or since they took out the debt willing and free that they should pay back ALL of the debt plus the interest charges?
I don’t believe it should be erased.
Because . . .
Especially for those students / employees that had to have that degree in order to work in that field. I have a lawyer friend that whines about her law school student loan debt all the time. She wishes they would hurry up and forgive her Student Loan Debt already.
But . . .
www.debt.com
If
she did not have that law degree, then she would not be working in that law
office and making the big income that she does earn. She and her husband earn
three times as much income as my husband and I do, and we both work.
While
my husband and I have budgeted for all our expenses and are paying off our
mortgage with extra money from my paycheck, we really don’t have money to
finance cars and take expensive vacations. We also don’t buy a lot of new
things. My boys have always worn yard sale clothes. Except shoes, socks, and
underclothes. Those I buy brand new.
We have chosen to prepare for our futures instead of enjoying the now items.
We are saving 15% of our income in retirement every payday.
We take any additional money we earn and throw it at the principal of our mortgage.
No credit cards.
If we don’t have the cash, we don’t buy it.
My husband did take out student loans when he went to college, and we worked really hard to pay them off before we started tackling the mortgage. It can be done.
But . . .
Borrowers need to budget and pay off their debt. Don’t just pay the bare minimum. Pay off double, if not triple what they are asking you as a payment every month.
Most of our Financial Advice comes from Dave Ramsey.
Never heard of him. Here is his website:
No one, in my humble opinion, should have Student Debt Loan Forgiveness.
No comments:
Post a Comment