All Forum Posts by: Matthew Shaw
Matthew Shaw has started 1 posts and replied 3 times.
@Cameron Tope Thanks Cameron! I wouldn't say that it emotionally bogs me down. I refuse to be a prisoner of my debt. If financially it is wiser to invest, than I will do that. I would love to get rid of my debt and not have that monkey on my back but doing what is mathematically in my advantage is definitely worth it. However, do you think the current pandemic will make it that investing right now isn't more advantageous?
@Nate Arrington Will check out! thanks for the rec.
I just graduated from school with $56,000 worth of loans (I had $74,000 and paid $18,000 immediately. I acted hastily and regretfully did not consider what I could have done with that $18,000) with rates of 5.8% and now have about $4,500 left in my bank account. I have a job that makes $35,000 per year. I am interested in finding a part time job (hopefully driver for doordash but waiting on confirmation) and I am living at home so my expenses are basically zero. If I were to spend $1,750/month on loans, I believe (some web-app told me) I could pay off my loans in 3 years. That being said, at 25 I would have no savings, or passive income. Has anyone had a similar experience and can recommend their opinion on whether I should go hard on eliminating my loans or rather work on building a savings/property deposit?