Tag Archives: Finance

Student Loan Debt Horror

I’ve been seeing lots of major newspaper articles on this subject recently.

The most recent one entitled “This Life: An existence she loves, under a growing cloud of student debt” ran in the Washington Post this week.

It’s a cautionary story about this librarian in Ohio who owes over $60,000 in student loan debt.  Realistically, she’ll never be able to pay it off from her income alone.  Her monthly payments only pay off the interest accruing.  She says her loan debts scare off potential boyfriends, and justifiably so – debts of that magnitude are a future killer.

I personally know two people in their early 40s who have student loan debts in the six figures: one owes $100,000 and the other $250,000 dollars.   They both make average incomes and can still barely even keep up with the interest payments.  I didn’t have the heart to tell them, but they will never be able to pay off such massive sums from income alone.  It’s nearly impossible.

Mr. Money Moustache – Blog Review

moneymoustacheI’ve been an avid follower of Mr. Money Moustache for a couple years now.  For those who don’t know about this finance related blog, this is an alias for a guy who lives his family in Boulder, Colorado, and has a different point-of-view when it comes to investing and retirement.  

He preaches “early retirement through badassity” which is such a great slug line.

He’s got some great insights into finance, saving, and investing which challenges convential wisdom you may read in mainstream press, which is funded, in part, by all the big financial institutions.

His blog has become very popular in recent years.  I’ve read it now makes a fortune in web traffic income, but he’s apparently still pretty frugal.

Read Mr. Money Moustache!