IM CALLING FOR THOUGHTS. on debt in general- should it scare me like it does, even if its for a good cause?
oh and heres a treat for everyone:
Tuesday, March 13, 2007
Family Opinion Time
So lately ive been talking to many of my friends about student loans. i know that mom and dad have been more than amazing by paying for our schooling and we are really blessed that way. BUT growing up ive just always thought: if you dont have money, dont do it. i feel like ive been able to say that because i DO have the money- i could do a study abroad without a loan or go to school without borrowing. so what about the kids who dont? shouldn't they be able to do those things even if it means going into debt?
IM CALLING FOR THOUGHTS. on debt in general- should it scare me like it does, even if its for a good cause?
IM CALLING FOR THOUGHTS. on debt in general- should it scare me like it does, even if its for a good cause?
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4 comments:
Yes, I think debt should scare you.
Somewhere I've heard the quote "Those who understand interest are not the ones who are paying it." You can find just about anyone who'll loan you money for something.
I think in a lot of cases, student loans are necessary if someone wants to go to college, especially graduate school. But if they can be avoided...
I'm sure you can find many talks about debt and they'll all say to avoid it like the plague, unless for a sensible car and house when necessary.
I've often thought about the example Emy and I have set for you guys and talked to Emy about it. I think we were in a pretty unique situation to bring 0 debt into our marriage. Not only that, but we've been able to afford many things that most couples our age cannot. I'm not saying that to be snooty, but that's how it is.
When you guys all get married, you may be in very different circumstances and have a lot of lean years.
Wait a second, didn't I start this rant talking about loans? ... sorry!
I agree with Ben. It seems the brethren have allowed for exceptions with debt for education, but when you read many of their stories, they were working 2 jobs with 5 kids and a grad program rather than incurring debt. Isn't my Ben a wonderful sweetheart? I love things he said and I love that he worries about you. I'll have to give him a big kiss when he gets home. I love you all.
Debt is a terrible master. I know so many people my age who are just finishing off their school loans. It is a low rate, but it just becomes a burden.
Part of one's education is deciding how one is going to live. That being the case, a real important part of that education is learning how to live without things that aren't essential. An important thing to learn is to go without and defer gratification. How do you learn that if you take out a student loan so you can go on a real cool study abroad?
Fun is not learning what matters. It is important to know how to recreate, but it is more important to learn how to be disciplined and sacrifice for a goal.
That was a rant, and I'm not ashamed. Some things are worth ranting about.
Funk Soul Poppa.
NO, NO, NO, is my answer to your final question. You answered this very question in the beginning of your entry. You know how this works.It is how your were raised. You stated "If you don't have money, don't do it" what else needs to be said? When I was growing up if I wanted something, I had to work and save for it. We had much less than some and much more than others. But I will tell you something that I do know and I know this from every fiber of my being, debt is to be avoided like the plague and at ALL costs. Unless as Ben mentioned it is for a house. I don't even think you should go into debt for a car. Just buy a used one or one you can pay cash for. Yea, for those who can't afford, save up, pay your tithing first,have patience and if at all possible make sure you put some money away for savings.Do that every time you get paid. Even if it is $10.00 There will come a day when you will be glad you did all this.The brethern have given us counsel time and time again concerning this. love, myhouseisouronlydebt
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