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Message
Money Management as a Student
Posted on 9/29/12 at 8:57 am
Posted on 9/29/12 at 8:57 am
Need some advice on what to do with some money that I have saved up.
Background:
Worked for a year after undergrad, saved roughly ~30k which is now ~15k. I'm now in law school which is completely free (~150-180k education) with prior student loans that amount to ~18k and a car note at 1.99% interest.
All of the student loans are 6.8%. Only 10-13k of that is unsubsidized which means that it's currently accruing interest.
I live at home...which sucks...my monthly expenses are around $1500. Car note + tuition tax credit that I pay + insurance + food/etc.
Should I dump the ~15k that I have into the student loans that are adding interest and/or just ride the money out until I need to take out more loans?
Feel free to TLDR this
Background:
Worked for a year after undergrad, saved roughly ~30k which is now ~15k. I'm now in law school which is completely free (~150-180k education) with prior student loans that amount to ~18k and a car note at 1.99% interest.
All of the student loans are 6.8%. Only 10-13k of that is unsubsidized which means that it's currently accruing interest.
I live at home...which sucks...my monthly expenses are around $1500. Car note + tuition tax credit that I pay + insurance + food/etc.
Should I dump the ~15k that I have into the student loans that are adding interest and/or just ride the money out until I need to take out more loans?
Feel free to TLDR this
2
Posted on 9/29/12 at 9:44 am to TheOcean
quote:
Worked for a year after undergrad, saved roughly ~30k
quote:
I'm now in law school
Posted on 10/1/12 at 1:40 pm to TheOcean
Investing it is an option. But without experience and time it will be hard for you to beat a 6.8% IR in terms of market returns. If focus on paying down debt. Plus you gotta consider time value of money thing.
But take a portion of your cash and start a Roth IRA.
But take a portion of your cash and start a Roth IRA.
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