Debt.. Jobs.. Education Options

[stephen_lee]

I'm now 18, as of February 2nd, and I see my mother, sister, brother, and even grandparents in debt. I'm truly afraid of owing any money aside from buying a house. As of now I probably won't even buy a car unless I have the cash for it. Once in the last two years have I ever been in the negative. The only reason that happened was because, when i worked at Little Caesars, my pay check had bounced, so they took around $490 out of my account w/o any notice throwing me -$19 and then the $31 overdraft fee. I talked to my employer though, and got $670 back. A nice gain of $149 after the fees. But in all honestly it was.. quite bone chilling seeing that "-" on my account. Anyway, i now work at AutoZone, with a chance to work building engines for an oil drilling company starting at $12/hour while average wage is $35/hour. But then again, I'm really good w/ computers and am already a certified tech. So I think I'll be fine as I have something to fal back on no matter which way I choose to go. I know one will be a great choice in the long run, and I will have great Job security. The other, though, will start paying off much quicker, but not as much in the end, with less security. But the former requiring college and therefore debt since I don't have the cash to pay for it as of now. *sarcasm* I love decisions...

[GriffGirl]

I am still paying my loan... and probably will be for the next ten years. I'm paying for my mistakes too, don't get me wrong... but my mistakes were in not staying on top of it, not the fact that I got the loans in the first place. And as a part of paying for my mistakes, I still don't own a house, I rent one. (and I've got 8 years on ya!)

The whole debt concern is TOTALLY such a valid concern, and I don't mean to knock it in any way if that's how it seemed. I made some bad financial choices when I was younger, and I'm paying for them now. So I can honestly say, with experience, that Yes, the student loan is a worthwhile investment (if you're gonna use your degree! Which I do, daily). Yes, debt SUCKS but you can start off on the right foot and it will help you establish credit to buy that house some day. Just be diligent and attentive, and it won't bring you to your knees.