Becoming Debt Free in 2009

January 29, 2009

Student Loan Info Needed

Filed under: Dave Ramsey,Debt,Personal Finance,School Loans — ambercouric @ 10:26 am
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I know very little about student loans.  I know that there are those that think they are great and those that think they are the devil.

A friend was asking me some questions and I thought I would just stick the info out for all of you to answer.  If you know of other bloggers who know a lot about student loans, I would appreciate if you either let me know their site or ask them to stop by here and answer.

Here is the situation:

My friend’s son wants to go to a school that is private and in another state.  The total to attend is $47,000.   The EFC calculator gave them a figure of $8,000 for them to pay.  They have no idea what kind of financial aid will be offered but she says they have NO money to pay.  So for a hypothetical situation say he has to borrow $30,000 per year.  That would be $120,000 over four years.  How are the terms set up -over how many years?  What types of loans should she look for?  How much would the monthly payments be if they borrow this huge amount?

Again, I know nothing about student loans but will be doing some research.  Please share your student loan experiences with me.  I would like to be able to have an intelligent conversation with my friend about student loans and what to expect.  She does have the option of paying by taking out a  second mortgage but I think this is a bad idea.

I must also say that before reading several PF I would have said ABSOLUTELY NO LOANS – but with insight from Dog Ate My Finances and Shtinkykat my opinion has lighten up a bit.

I welcome comments from parents, students, or anyone with any opinion on this


January 1, 2009

2009 Is Going To Be A Great Year

Filed under: Journey to Debt Freedom,Personal Finance — ambercouric @ 10:25 am

Just wanted to wish you all the best year ever.

2009 is starting off pretty good for me.  Two great things have already happened.

1)  My puppy slept through the night last night for the first time.  She usually has a 3:30 am potty time.  Hopefully, that is gone forever.

2)  I was mentioned on MSN Money  Smart Spending Blog  in the post New Year’s resolutions –PF style.  

What a great way to start the year.

Happy New Year


Will Be My Debt Free Year

December 18, 2008

Pennies Count

Filed under: Journey to Debt Freedom,Personal Finance — ambercouric @ 10:39 am
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I never knew how much small change dumped on tables and dressers add up.  There is a running joke in our house that if we just leave the change on the table then DH will pick it up.

Sometimes when we are really bored the boys will walk around the house putting coins in different places.  It never fails as soon as DH spots a coin he picks it up and puts it in his “bank”.  His bank is an old Maxwell House  coffee canister.

Last night DH was talking about his change bank.  I should say BANKS since he has filled several over the years.  He occasionally uses a few quarters to buy a biscuit at Bojangles but other than that he has collected the money for years.

How much is in these “banks”?  I have no idea but my husband estimates $1000-$1200.  What does he plan to do with the money?  He is saving for an emergency or something special whichever comes first.

My older son, Ashby,  then noted that he has a drawer of quarters in his desk.  I asked how much and he wasn’t sure but said I could go and look.  There has to be at least $100 in there.  He doesn’t save the small change he leaves that somewhere his dad will find.

Of course not to be beat Kennedy had to compare his stash of change.  While not quite to the extent of his dad and brother he has an impressive collection.

I pulled out my change purse to see just how much change I had.  I had exactly 2 pennies.  I have never saved change and once I get to much it weighs down my purse so I dump it.

I am glad to know that I have a family of savers.  I probably won’t start saving change but I’ll appreciate knowing that when I dump my change on a table DH is saving it for something special.

November 12, 2008

Recommendations Needed

Filed under: Personal Finance — ambercouric @ 11:09 pm

What personal finance books do you recommend?  Are there any that you would say not to waste my time reading?

I look forward to reading your recommendations.

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