Comments on: It’s Called…LIFE!

By: Making Better Judgments — Personal Finance Notebook

Making Better Judgments — Personal Finance Notebook — Thu, 22 Apr 2010 14:51:15 +0000

[...] promised they would pay the bill on time. They don’t mean to be late with the payments, but life happens. They don’t mean to default on the loan, but the payment is too much for them to handle. [...]

By: Patrenia

Patrenia — Fri, 02 Apr 2010 18:22:57 +0000

Student loans are seen as good debt and I do believe that they are. But I know of a few people from my college days that used their loans to buy cars and furnish apartments, not really thinking about the end result of having to pay it back. As you state BK is out of the question. You guys are doing great to pay it off instead of letting it linger around for the next 30yrs. What is the projected payoff date?

By: Can’t Manage Spending? — Personal Finance Notebook

Can’t Manage Spending? — Personal Finance Notebook — Fri, 02 Apr 2010 05:59:28 +0000

[...] happens more often than we’d like to admit. We continue to make the same bad decisions which help us get nowhere fast. Here’s how it goes: You don’t have enough money to do what [...]

By: joe

joe — Fri, 02 Apr 2010 05:26:57 +0000

Great truths!
Student loans is where we are stuck right now! Our loans are massive but we are aggressively working to pay them although it will take some time. We have no regrets that we took the loans since it was our last options but even so.. that monthly check hurts. And by the way you cannot eliminate the student loans by filing bankruptcy.. you will still have to pay!!
As you stated.. Always exhaust other educational funds choices before resulting to student loans.

By: Patrenia

Patrenia — Wed, 31 Mar 2010 20:30:11 +0000

Reading your comment brings a quote to mind I hear my Mom and Dad use a lot – “Bought sense is better than taught sense.” It’s best to make plans. You are right, they may need to be adjusted along the way, but at least you have something to follow. Thanks Walter!

By: Patrenia

Patrenia — Wed, 31 Mar 2010 20:26:12 +0000

Hey Eric, I’m with you on the cash, but not sure if I’m over the new car itch. I’ve only had the opportunity to purchase two and feel that I have gotten my value out of both. I had my first car for 15 years and have had the second for 6yrs so far. I would like to however be able to purchase my next car with cash though I have a few more years to go.

I do, however, ponder over big decisions for a while also to be sure it’s the right choice. I’m often accused of being too slow with making a few decisions, but I’d rather be safe than sorry. Thanks for sharing.

By: Walter

Walter — Wed, 31 Mar 2010 13:37:02 +0000

I had to admit that I have had my share of mistakes when it comes to financial decisions in my life. However, I have learned from those mistakes. Planning, contemplating and making an analysis are the things I’ve learned when considering future actions. Though life would always be uncertain, it is wise to draw our map.

By: Eric | Eden Journal

Eric | Eden Journal — Wed, 31 Mar 2010 03:00:33 +0000

This is solid advice. On the car financing, better yet is to pay cash. I have seriously cured by new car fever by changing the way I look at cars. I removed the status symbol association and the desire to have the best. Instead I now look at it for exactly what it is, transportation to get me from point A to point B. That makes it easier for me to buy used and to afford to pay cash.

Waiting 24 hours before making big decisions is something else I practice. Actually, I often wait more than that, and really give big decisions plenty of time. I like for the buying itch to dissipate and see if I still want it. If after a couple days or weeks I still want it, then I move ahead with a purchase.