| 21 y/o with 20k debt..diagnosis of whats good or bad |
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MHartUF
New Member
Cash: $ 1.05
Posts: 5
Joined: 25 Oct 2011
Location: Tampa,FL
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I am not a financial expert or planner, but my personal opinion would be to stop (for now) contributing to your 401(k) and knock out the student loans. Then go back to contributing to your 401(k). W/ no company match you aren't losing out on any "free" money...and instead are paying interest on your loan.
That is just my opinion, not a professional's.
Go Gators!
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Tue Oct 25, 2011 8:44 pm |
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globaldoc2001
Senior Member
Cash: $ 75.25
Posts: 366
Joined: 30 Aug 2011
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What I am going to say might not be the best, but I am just going to say what I think. You are still at your young age, and the fact that you have a loan that big is not a good sign. If that were a loan for business, then it would still be fine. But if that is a personal loan, then I do not see anywhere you can go, but to give back the loan for the security of your future. Surely you would not want to enter your 30's with such a big loan over your shoulders as your burden. If I may suggest, why not think up a business that will yield you even not much, but enough for you to see it through your daily expenses, with a little to spare for paying up for the loan. Eventually, you will fins that you have paid up already, and still with a business that is growing.
Business Tax Filing
Debt Consolidation Companies
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Wed Oct 26, 2011 7:21 am |
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