Re: Cycle of Debt: What are my options?
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I'll take a contraian position, and say I wouldn't sweat the debt that much as long is it isn't growing.
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Maybe his debt isn't growing, but he is dumping money into it just to maintain it's level. That is money that he is not investing or buying assets with. And I am assuming he is relatively young, which is exactly when he should be buying longer term investments and giving them time to grow.
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I guess this is a judgement call, but if you're at a good school and get good grades, you'll be getting a high paying job at the end of school.
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Not guaranteed - and even if he does land a high-paying job, it certainly does not guarantee wealth. Having the right frame of mind and discipline is far more important than having a high-paying job. If he is living beyond his means now, with little/no money coming in - then what can he expect when he actually does have money coming in?
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