I know this isn't the Suze Orman show but...

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theprodigy101

theprodigy101

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Jun 18, 2007
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I need a little advice here from the smartest people I know.

Quick facts:

20 years old.
Got bored of undergrad business school, dropped out before senior year.
Interned this summer as my last job ever and to have a "backup."
60k in student loans.
Brought in $4000 in July for first month of affiliate marketing (revenue, maybe 1k in profit).

I have an apartment lease with two of my fraternity brothers back on campus, and rent is $470 a month.

Debating whether to sublet the apartment and use the money I'd save to buy a 14k car by way of financing and live at home with the parents while working on affiliate marketing or to live with bros on campus (wouldn't have my own room, would be sharing a double).

I would love to have my own place away from home and all, but it seems like I have to make a sacrifice somewhere.

No car- and spend $500 a month living with friends and attempting to work on affiliate marketing while still having a social life

OR...

Finance a 14k used 350z car, live at home, do affiliate marketing, but not have the freedom of having my own place and living with parents.

I'm only 15 min away from friends on campus and would need a car to lug around my dj gear that i just invested in.
 


If you need advice on every corner you turn you won't get far. Stop looking for someone to hold your hand through everything - take a risk, it's the only way to learn from your mistakes.

I guess I just gave you advice, even if I didn't want to!
 
stop fucking around. finish up school, it's just another year, get your self a decent used car, you don't need a huge car payment, it's throwing your money away at your age. You have no real income, why would you even consider financing $14k for a car?
do your AM on the side. I'm sure there are plenty of students here on this site that are banking while getting their degree. Shit can change real fast, get some education that will last you.
and BTW, I hate that bitch Suze Ormond, she's annoying, but she'd tell you the same thing.
 
theprodigy101 said:
60k in student loans.

Brought in $4000 in July for first month of affiliate marketing (revenue, maybe 1k in profit).
buy a 14k car by way of financing
Click to expand...

You have 60 grand in debt, probably 3 you spent to pay for PPC ads, you want to go ANOTHER 14k in debt for a car.

You aren't really sure how much you made last month on AM. "maybe 1k"

And no college degree.

Dude. Seriously.

Student loan debt will kick your ass. There are laws in place that allow lenders to bypass normal collections laws and rape you to get the money. Keep all the paperwork for that, because they can come after you years later illegitimately and say you didn't pay. You need the paperwork to fight back.

If I was in your shoes, I'd get the hell out of debt, which might take you years, probably complete school and work some kind of part-time gig to cover rent. But that's just me.
 
medicalhumor said:
stop fucking around. finish up school, it's just another year, get your self a decent used car, you don't need a huge car payment, it's throwing your money away at your age. You have no real income, why would you even consider financing $14k for a car?
do your AM on the side. I'm sure there are plenty of students here on this site that are banking while getting their degree. Shit can change real fast, get some education that will last you.
and BTW, I hate that bitch Suze Ormond, she's annoying, but she'd tell you the same thing.
Click to expand...
As a jew I must agree.
 
I can't do school and AM at the same time if I really want to get good at it. Trust me- I've tried it and between school and AM...my interest in school completely drops and all I do is AM. The shit they teach is bullshit- but I won't get into the whole argument over college degree versus no degree.

I didn't officially drop out...I took a leave of absence which can last up to two semesters. I want to take at least a semester off so I can start bringing in a decent income. Of course I've failed plenty of times thus far, but I'm getting closer to getting good.

And you guys are right about the seriousness of my debt. People usually don't put the same amount of emphasis on student loans as they do on other kinds of debt, which is probably why I haven't paid much attention to it. I don't need a 14k car.

The reason I decided to rent an apartment though was so that I would force myself to MAKE $$ via AM and get good at it or otherwise I wouldn't be able to pay rent. Now my debate is- should I forget about that "method of motivation" and save the money, live at home, get out of debt. It sounds like the latter at this point and I guess I should really just do it.
 
Who's a J-O-O?

South-Park-The-Passion-of-the-Jew.jpg
 
Fuzzo said:
If you need advice on every corner you turn you won't get far. Stop looking for someone to hold your hand through everything - take a risk, it's the only way to learn from your mistakes.

I guess I just gave you advice, even if I didn't want to!
Click to expand...

learn while young -- it cost less in the long run. i made some stupid mistakes in college and it saved me thousands years later.

- don't us credit cards
- don't ever lend $$ if you can't afford to get it back. consider it a gift.
 
60k in debt and no degree?
Don't be an ass.
Finish school.

Fuck that nissan 350.

Get a reliable hooptie to shuttle your ass around. Spend a couple of grand to get that.
Live with your parents and save some money while you finish the final year of school.

Figure out how to grind through and do Am while still going to school. So it ain't easy to do both.. big fuckin deal.. Who the fuck are you ? The king of the world or something? Grow a pair will ya?



Nobody owes you shit in this world. If you drop out now you will regret that shit for the rest of your life.

Not that a degree is the end all be all, but don't quit with only a year left and 60k in debt.
 
I doubt you'd even be approved for financing that car. A year ago, yes. Not now.
 
$60k in student loans is rough. Might as well finish what you started now - you'll be paying for it anyway. You can't get away from a Federal debt. They will find you and take it.
 
Wow.. your 60k in debt and you're considering financing a 14k car? Finish school. Get a job.
 
Quit following the herd, you want to finance a car that you can't afford probably because you think it will be cool. You want to take a "leave of absense" for a couple semesters because you can't do AM and school at the same time. You are not sure if you want to move home because it would mean maybe not having as good of a social life.

When you start making basic decisions to actually build wealth rather than building debt - then you might actually get somewhere. The only person putting you in your situation is yourself. Add the debt of the car, lack the education cause you can't hack school and AM, stay with your frat buds instead of at home cause it just is more fun. These are all your own decisions, do as you want.

But if you are ever going to become wealthy, it isn't because you had a cool car, stayed at a cool pad, or chose the lazy way, its because you worked your ass off doing as much as you could and didn't buy shit because everyone else was.

But hey, 98% of the country makes those same decisions. Good Luck!
 
I have similar issues. Only I have a worthless degree and no debt. WTF do you do? Work in a call center? Go to bartending school? Sell cars?

Sell yer dj toys on ebay.
Move home.
Get the fuck away from fratards.
 
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