A Financial Story
Danielle, Class of 2006
I took out student loans from my credit union for educational purposes so just for tuition and books but that is it and any other educational costs that came up, never for personal use. the thought that I always had to pay it back was always in my head so I never bit off more than I could chew and it has worked out very well for me.
subscribe to feedYou Work Hard For The Money
Instead of measuring a purchase in terms of dollars, consider measuring cost in terms of the number of hours you need to work.
What’s the value of $1,000? It’s not only what it can buy, but also how much time is needed to earn $1,000. At $15 an hour, that means you will need to work 30 hours just to make that payment. A $175 student loan payment means working for nearly 12 hours a month.
How many hours a month do you need to work to meet your expenses?
Source: EdFund