It is supposedly not proper to talk about ones finances, but I really have no issue with it. Since it’s not considered appropriate conversation, it rarely comes up. But why not? I understand not discussing salary – but why not talk about money? So – I’m going to do just that.
I’m racking up a ton of student loans – even as I’m typing this, probably! By the time I have my Bachelor’s, I anticipate having around $35,000 in student loans. That dollar amount is one of the reasons I’m feeling uncertain about continuing to my Master’s and adding another $20,000 to that number. $55,000 in student loans is an amount that makes me nauseous.
In 2010 I bought a car – a nice new car. Not an expensive car, just a sensible Chevy Cobalt. I currently owe $10,755 and I have drafted a plan to have it paid off in 20 months – which would be a full two years early. Also, this 20 months happens to coincide with graduation – When it’s time to take on student loan payments, at least my car will be paid off – and at only four years old, hopefully it will have another 10 good years left! (I’m not a car-trader. I’m a car-drive-it-till-it-won’t-run-anymore’er) Should I decide to join the Master’s program, I can still start paying on my student loans. The sooner the better, definitely…right? That Master’s program is a decision I choose to avoid thinking about on most days. I’m not going to decide until I have to decide…probably sometime at the end of next year. I have a full 365+ days to avoid thinking about it.
So there you have it. $10,755 car loan and eventually $35,000 in student loans. Or $55,000. Groan.