<p>In that case, you already have everything solved and under control. What are you asking us again?</p>
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In that case, you already have everything solved and under control. What are you asking us again?
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<p>as I said in my original post, I was wondering if anyone else was in the same boat as me. And if so, how do they deal with it.</p>
<p>"I'm pretty sure his monthly interest accumulations are enormous"</p>
<p>And how is that possible when he has a 0% interest rate?</p>
<p>why dont you ask your "daddy make me fuel for learjet" parents to loan you 10k...........and when you graduate you pay it off...........i mean no matter how bad parents can be, parents who care about their children certainly wont want to see them in debt....so ask them.......its 10 grand, im a senior in hs and my parents are poor and they bought me a pathfinder for 32k.............so come on ask your parents, they will help you</p>
<p>"...im a senior in hs and my parents are poor and they bought me a pathfinder for 32k..."</p>
<p>I think that you need to reevaluate your definition of "poor."</p>
<p>my parents combined a year is 100k....thats pretty low</p>
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im a senior in hs and my parents are poor and they bought me a pathfinder for 32k
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<p>Damn we're not poor and my parents don't even buy cars that expensive for themselves.</p>
<p>And mate, that's still 70k after that pathfinder. 100k isn't low...it's actually pretty good. Yeah there are are people who make more, but as a percentage of the US, not very many. See <a href="http://www.census.gov/hhes/income/histinc/ie1.html%5B/url%5D">http://www.census.gov/hhes/income/histinc/ie1.html</a> - 100k puts you towards the 90th percentile for household income.</p>
<p>if you have 100k you can afford a place to live, food to eat, cars to drive, and you don't have to give up one to get a little more of the other--there are hundreds of thousands of people in America who can't say that much. THEY are poor. You are middle class. A 32k car is a big chunk of money to spend on a car when you can get a well made barnd new car for $20k and less, which don't guzzle gas. Just because you may not have as much as you'd like to have it does not mean that you are poor. If you have say, 20 siblings, then I could understand why $100k would seem poor, but I seriously doubt you have that many siblings.</p>
<p>Don't worry too much about that.. I'm sure he was just trolling around or something</p>
<p>PAY IT ALL OFF WHILE IT'S STILL SITTING ON THE 0% APR THING!!! And shame on you!!! A FINANCE major!!! YOU'RE LEARNING HOW TO SPEND MONEY (AND KEEP TRACK OF IT)!!!! Oh, you're screwed by the way if you don't pay it all off before your interest rates change. Make 3,4,5 times the minimum payment, and it'll all be gone in about a year or two. Keep moving balances to 0%APR credit cards by the way. There's no reason, other than laziness, to transfer balances every 6 months...</p>
<p>And NEVER, EVER, EVER CLOSE CREDIT CARD ACCOUNTS!!! THAT'S A BAD SIGN ON YOUR CREDIT REPORT!!! (borrowed a spiel from the Suze Orman show, not that I watch it, more like I stumble upon it sometimes)</p>
<p>Oh yeah, about the "poor" thing...</p>
<p>My parents, combined, make around $110k. Great, middle class, you think???? HELL NO. Where I live, we can barely live on it, and this is a family of four with one car, a 3-bed rental, and no expensive ANYTHING.</p>
<p>ihateca, i remember that clip from suze orman. closing the cards reduces your credit limit thereby increasing your debt to credit limit ratio - a very bad thing.</p>
<p>and yes, 110k in some parts of ca won't even come close to cutting it. but if parents can afford a 32k pathfinder for their child, they probably aren't just scraping by.</p>
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And mate, that's still 70k after that pathfinder. 100k isn't low...it's actually pretty good
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Dude i live in NY and you live in Ca..............if you didnt know mate, NY is one of the largest tax payer state in U.S.....almost THE LARGEST............so our 100k is all gone after paying taxes.............jsut letting you know</p>
<p>youre not even close to being poor, you idiot.</p>
<p>i live in a district, where minimum income is 180k,...thats just MINIMUm.....ever house down the block is starting at half a million...............my parents cant afford that.............thats means im poor............idk what you guys are talking about....btw my parents bought me that car because they thought i deserved it......i was SLAVE TO STUDYING my whole hs life</p>
<p>look, 100k is a lot of money. i dont think you understand that. you arent poor. if you were poor, you wouldnt be on a computer right now, you would be working a job for 5.50 an hour. if you were poor, your parents wouldnt have bought you a 32k car, you would be driving a a 1994 honda accord.</p>
<p>Dude, we're not saying you're rich. Don't even get me started on where I live (at home) and the average real estate crap. My high school was in the most expensive town in the country (according to Forbes). I live in a $520k 2 bedroom condo in "the cheap part of town" and we make less than your parents. I know what it's like to have less than those around you in a high income area, but it doesn't make you poor. </p>
<p>"btw my parents bought me that car because they thought i deserved it......i was SLAVE TO STUDYING my whole hs life" </p>
<p>The reasoning behind your parents purchase doesn't change the fact that they were capable of making the purchase. If they are capable of spending $32k on a graduation present, you are not poor. Someone could have worked their asses off in HS, and their parents could want to give them a brand new car, but someone who is poor just can't afford that. It's not about what you want it's about what you hve the capability of doing.</p>
<p>500K for a house? With a 100K+ income? I don't think you understand what the word 'poor' means. I think you're just concerned with not being 'rich'.</p>
<p>try living in california, especiallythe bay area where the avg priced home is 500,000. i'm sure you could find the same house anywhere else like the south or midwest for 150,000 or so. which would be a mansion compared to houses here. also your parents aren't poor if they can afford a 32K pathfinder, you should be lucky. some students ur age are stuck using their parent's old cars or dont have one at all. also u could get a decent used care or even a new commuter car like civic or something for under 20,000. i'm sure if you're parents were "poor" they wouldnt have bought a car so expensive. and many families can get by with 100,000 income a yr. even my parents dont make that much, yet they invested wisely into real estate and have 3 houses and 2 apartment buildings in the calif and las vegas. so to say ur poor and can barely get by on 100,000 means u must have a spoiled lifestyle or caught up into comparing yourself with other people</p>
<p>Here's a website with good advice for dealing with debt. This guy has a radio show (I think he has it on podcasts on his site, too) that I've found really helpful.</p>
<p><a href="http://www.daveramsey.com/%5B/url%5D">http://www.daveramsey.com/</a></p>