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it may be missing a rearview mirror, it may have some dead wasps hanging out in the back windshield, and it may certainly be in need of a serious washing and rain-x application. but as of 11:46am today, all 105,000+ miles of it is mine.

the only question now: do i use this "extra" monthly money to buy useful-to-my-life-but-not-exactly-necessary gadgets? or do i apply it to my outstanding student loans? hmmm.
Posted on Monday, June 5, 2006 at 12:17PM by Registered Commentermdog | Comments16 Comments

Reader Comments (16)

Student Loans! It is THE best feeling in the world to pay them off!!!!!

Jun 5, 2006 at 01:27PM | Unregistered Commenterchurchie
alternate months. pay more to your loans one month & treat yourself the next. :)
Jun 5, 2006 at 01:47PM | Unregistered Commentermar
Sounds like you've found a way into a shiny new MacBook.
Jun 5, 2006 at 04:27PM | Unregistered Commenterjared
or just support the arts somewhere.
Jun 5, 2006 at 05:41PM | Unregistered Commenterrachel
I suggest that you contribute the money to MY student loans.
Jun 5, 2006 at 06:41PM | Unregistered Commenterrachel mcH
i like the every other month deal, it's a good compromise. how exciting...i can't wait until i pay something off like car or loans. it'll be quite awhile.
Jun 7, 2006 at 08:23AM | Unregistered CommenterJoy
No way ... full steam ahead, pay off the loans, baby. Being debt-free is one of the greatest ways that you can pre-love your man ... it's (as Rachel would say) <i>very sexy</i>.

Sorry, but I've never seen that perspective in print and think it needs to be represented ... it's a rarely known fact among females.
Jun 8, 2006 at 12:09AM | Unregistered Commenterlance
you DO remember you're talking to an accountant here, right, lance? debt ain't sexy to me, either.

and i certainly hope you do realize the reverse is true, gender-wise.
Jun 8, 2006 at 07:36AM | Registered Commentermdog
if your student loans are consolidated at a low fixed rate, then i wouldn't worry too much about paying more on top of what you normally owe. student loans are relatively cheap debt.

using money wisely isn't necessarily about not having debt, it's about how you manage and leverage debt.

there are a lot of ways you can invest extra capital and earn a higher rate than what you're currently losing by not paying off debt more quickly. (e.g. saving money for a down payment on buying property in an underpriced market, investing in mutual funds, etc.)
Jun 8, 2006 at 02:39PM | Unregistered Commenterpeter
<student loans are relatively cheap debt.>

muahaha! thanks for my laugh of the day. that topped the comment i received last night at the bar. i 'spose if i cracked $50k/year, my $40k in debt from college & grad school might seem relatively cheap.
and lance, no wonder i can't find a man. i certainly don't want to impose my debt on anyone else. maybe by the time i'm 62 and have finally paid off my loans, i'll find someone.
Jun 8, 2006 at 03:55PM | Unregistered Commentermar
Look, $40k is peanuts compared to the debt i have with my debt + my wife's (undergrad+grad+law school) debt. I'm not trying to belittle your debt situation; I'm just stating the fact that student loan is relatively cheap debt when considering all the options of what you can do with your money.

There are lots of people who have no understanding of money and do dumb things like retain credit card debt at 22% while making feeble attempts to put away money into a savings account that only returns 1% (which in reality is -2.5% because of inflation).

Debt is not a bad thing. Everyone takes on debt because they believe whatever they're taking on debt for is worth it. No one has to go to college if they don't want to, but it's general knowledge that over a life time, the benefits of having a college degree far outweigh the short term pain of borrowing money and paying interest on it.
Jun 8, 2006 at 04:18PM | Unregistered Commenterpeter
peter - welcome to unleashed.

as painful as the interest is on my five-figure debt, yes, student loans ARE relatively cheap. BIG emphasis on the relatively. thankfully it's the only debt i have [credit card is paid off monthly. be smart, people!].

mar - someday our debts will be paid off... just in time to make payments to nursing home care! :)
Jun 8, 2006 at 04:27PM | Registered Commentermdog
just so you know, i wasn't saying i disagree. it still made me laugh if only for my own personal situation. i know i could have gone to my local university & lived at home like daddy wanted me to, but compared to the things i've experienced as a result of going to a private college (& then grad school), the debt is minuscule.

and modgo, perhaps we can pick up men in the nursing home. ;)
Jun 8, 2006 at 05:46PM | Unregistered Commentermar
better yet, MEN can pick US up. ;)
Jun 8, 2006 at 05:57PM | Registered Commentermdog
Yeah- thanks for the laughs folks!
Jun 12, 2006 at 02:41PM | Unregistered CommenterSJL
sarah! how ya doing by da u.p., eh?
Jun 12, 2006 at 05:24PM | Registered Commentermdog

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