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Started By
Message
Want your opinion.
Posted on 9/24/13 at 9:35 pm
Posted on 9/24/13 at 9:35 pm
I will give you the scenario and just want to see what you guys think.
I will be graduating this spring with a degree in marketing and management. I also will be fortunate enough to graduate college with absolutely no student debt. While I don't have a job 100% solidified upon graduation, I have a pretty good source that says the job is mine if I want it. It's a Sales/BizDev position making a decent amount for a entry level position.
Upon graduation, I want to spend 4-6 weeks living in Italy before I start working. I have always said I would do it after graduation and I don't want to spend the rest of my life being the guy wishing he had. Since I have no student debt, I am considering taking out a 5-7k loan and taking my GF and I to live in the Tuscany area for the summer. I have only had a credit card for a little over a year, but my credit score is good.
My question is, do you think it's smart to start my professional career a few thousand in the hole on something so recreational? My thought process is that since I have no student debt as is, what is a couple grand gonna hurt when it could have easily been 50k dollars. Just want to hear some other peoples opinions.
I will be graduating this spring with a degree in marketing and management. I also will be fortunate enough to graduate college with absolutely no student debt. While I don't have a job 100% solidified upon graduation, I have a pretty good source that says the job is mine if I want it. It's a Sales/BizDev position making a decent amount for a entry level position.
Upon graduation, I want to spend 4-6 weeks living in Italy before I start working. I have always said I would do it after graduation and I don't want to spend the rest of my life being the guy wishing he had. Since I have no student debt, I am considering taking out a 5-7k loan and taking my GF and I to live in the Tuscany area for the summer. I have only had a credit card for a little over a year, but my credit score is good.
My question is, do you think it's smart to start my professional career a few thousand in the hole on something so recreational? My thought process is that since I have no student debt as is, what is a couple grand gonna hurt when it could have easily been 50k dollars. Just want to hear some other peoples opinions.
13
Posted on 9/24/13 at 9:36 pm to DrakeLSU
Run the numbers and see if you'll have enough disposable income to service the note once you start working.
ETA: I always forecast my income on the low side when budgeting.
ETA: I always forecast my income on the low side when budgeting.
This post was edited on 9/24/13 at 9:38 pm
Posted on 9/24/13 at 9:48 pm to DrakeLSU
Does it make great financial sense, no, but frick it and do it, not every decision we make has to be because it makes financial sense
There will never be a time in your life when you will be able to do this again, go for it and enjoy it, you will figure out someway to pay it off
Try to get a student loan?
There will never be a time in your life when you will be able to do this again, go for it and enjoy it, you will figure out someway to pay it off
Try to get a student loan?
This post was edited on 9/24/13 at 9:49 pm
Posted on 9/24/13 at 10:11 pm to DrakeLSU
5-7k ain't gonna cut it for 4-6 weeks in Tuscany
This post was edited on 9/24/13 at 10:12 pm
Posted on 9/24/13 at 10:13 pm to DrakeLSU
quote:
My question is, do you think it's smart to start my professional career a few thousand in the hole on something so recreational? My thought process is that since I have no student debt as is, what is a couple grand gonna hurt when it could have easily been 50k dollars. Just want to hear some other peoples opinions.
First of all - let's just look at that $7000. If you only invested it in KO (Coca Cola) and let the dividends reinvest for 40 years, that's about $150k. Now, you're not spending that money out of your pocket, but you're borrowing it, so the actual costs might be more, because you have to pay that back, plus interest (this IS the money talk board, I wanted to get all that out of the way first.)
Now, having said that, if you do this, it is HIGHLY unlikely you will ever get to a point in your life where you say, "Sonofabitch, I wish I hadn't spent those 5 weeks in Tuscany with my girlfriend after graduation."
You're supposed to spend money, at least in these circumstances, on experiences rather than stuff.
IF you make the commitment, you will buy autmobiles one level down from your budget, and make up the $7k that way, over, say your next 2 car purchases, that is the responsible way to sacrifice a little material future for a permanent, wonderful, fulfilling life experience.
(But, I think $7k may even be a little bit low for 6 weeks in Italy - maybe you're a better, more economical traveler than I - heck I spend $1200 a week traveling in the US and I drive everywhere.)
This post was edited on 9/24/13 at 10:15 pm
Posted on 9/24/13 at 10:19 pm to DrakeLSU
Also ... ditch the girlfriend and go by yourself or with a close friend. Grease it up in Europe for a few weeks and soak up as much culture as possible. You'll carry that experience with you for the rest of your life and be happy you did it down the road. The girlfriend will be around when you get back - if not, good riddance. Do it on your own first, hit as many countries as possible, then take her back to one of the places you really enjoyed.
Posted on 9/25/13 at 6:10 am to DrakeLSU
Do it. You've got the next 40 years to slave behind a desk, no point in rushing that. Once you start work it will be hard to take an extended trip such as this.
Posted on 9/25/13 at 7:57 am to DrakeLSU
quote:
taking my GF and I to live in the Tuscany area for the summer
Huge mistake. Go by yourself and let her come visit for a week.
Posted on 9/25/13 at 10:31 am to DrakeLSU
Go for it, but don't bring the girlfriend.
Be loose and free to go where you want when you want. Meet as many locals as you can and don't take the tourist route.
Be loose and free to go where you want when you want. Meet as many locals as you can and don't take the tourist route.
Posted on 9/25/13 at 10:40 pm to DrakeLSU
The only thing I truly regret in my life is not traveling abroad while I had the time but not the money. Now I have the money but not the time.
As for your GF, only take her for the whole trip if you know she's the one you want/plan to marry. Otherwise, as another poster suggested, recommend that she come visit you for a week.
As for your GF, only take her for the whole trip if you know she's the one you want/plan to marry. Otherwise, as another poster suggested, recommend that she come visit you for a week.
Posted on 9/27/13 at 8:39 am to DrakeLSU
I suppose that if I were in your position I'd do it. It probably is the last chance to go for that length of time.
BUT...
I would interpret your need to do this as a sign that money might have a tendency to burn holes in your pockets. After your vacation and if you get the job you mentioned you're going to want a car. You're going to hit the lot looking at a Honda and then begin to think, "I've got no student debt, I deserve to reward myself" and it's off to the BMW lot. When lookifng at a house you might decide that you need the extra 1000sqft. All of these purchases might occur while you decide to delay investing the correct percentage for retirement because you figure you'll "catch up" later.
Maybe I'm wrong but what I posted is how the majority of Americans screw themselves.
BUT...
I would interpret your need to do this as a sign that money might have a tendency to burn holes in your pockets. After your vacation and if you get the job you mentioned you're going to want a car. You're going to hit the lot looking at a Honda and then begin to think, "I've got no student debt, I deserve to reward myself" and it's off to the BMW lot. When lookifng at a house you might decide that you need the extra 1000sqft. All of these purchases might occur while you decide to delay investing the correct percentage for retirement because you figure you'll "catch up" later.
Maybe I'm wrong but what I posted is how the majority of Americans screw themselves.
Posted on 9/27/13 at 9:48 am to DrakeLSU
quote:This is a silly question. Of course you should do it. The hell with the money. You can make more money, you can't make more time. I spent a semester in Austria in college and it was the best time of my life and it isn't even close.
Upon graduation, I want to spend 4-6 weeks living in Italy before I start working
Posted on 9/27/13 at 10:18 am to DrakeLSU
My sister just did 2 months in Europe for $2, 000 not including travel.
Yall can do it. Hostels are your friend
Yall can do it. Hostels are your friend
Posted on 9/27/13 at 8:53 pm to DrakeLSU
quote:
I want to spend 4-6 weeks living in Italy
quote:
I am considering taking out a 5-7k loan
I spent about 7k for 10 days in Rome and Florence for my honeymoon last year. Plane tickets alone will run you $2500 on the low end if you are departing from msy.
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