Advice on making the "Right" decision

[bklyn]

It's less than 150 per week to pay this debt off in a year. Get one of those mostly cash jobs as suggested above. Try to break 300 a week.

Every week pay off 200 and give yourself 100 to use as play money/ savings / etc. Get into planning your finances now. At the end of the year you'll have paid off your debt and earned an extra 6000.

Try not to ever dip deeply into revolving credit again. Debit cards now have all the perks of credit cards so there's little need.

[PTracy P1]

Debt is like playing with fire. sooner, rather than later, you will get burned. go talk to a banker.

[spooner]

This is my first post, and I couldn't resist... I've been in a situation quite similar to the one you've described.

Two summers ago, had purchased a new bike and dropped more than I should have at the time. A couple of months later, I decided to sell the bike for nothing near it's worth (at least what it was worth to me) to help bail myself out of a financial situation I was being consumed by. I thought it was the smart thing to do, and truthfully, for the moment it probably was. It was quick and easy and I was able get my head above water (for the time being). To add to that, it wasn’t as devastating as it could have been since the weather was cooling off and I was heading into ski season; I was starting to shift my attention away from cycling. But as soon as the weather started warming up, and I was itching to get out and ride... my bike was gone and the regret hit me quickly. I was way more bummed to be starting off the season with no bike, DYING when all my friends were getting out and taking their first rides, than I would have been picking up a second job and chipping away at my debt slowly. I ended up having to do just that in order to get another bike (btw, paid cash for the new one!). Anyway, my advice... keep the skis and gear. Enjoy the rest of this season as much as you can, and bust your ass this summer. Once the snow starts falling next season, you'll be so happy you did.

I'm still young and I still cannot say that I am out of debt (still chipping away). I probably don't have enough wisdom to offer any REAL advice, but from my experience I felt like it wasn't worth it in the end. You need the release. Make time for the stuff you love. I mean, with out that, forget what you're going through now- you'd REALLY go crazy! That's my two cents...

I'm sure what ever you decide to do will be fine. Good luck.

Oh, and btw.... love Fleet Feet, it's my choice stop for running shoes.

[rhea]

Dude, dont panic. We were all in that boat once in our life. I personally never had any credit card debt in school, and I regret it. Instead of going to europe like the rest of them, I went staright to work. A couple of yrs later I had plenty of money, but no time. Maybe you didnt need new skis, but dont hit the panic button. You cannot give up skiing, you will be worse off. You need a balance.

My advice, when the snow melts, find a way to make some real money. Get a back breaking job for 2-3 months this summer, construction or something and pay it off. Plan now, you will feel better.

You do not want a life full of regret. Just plan better in the future. Never buy anything new. You have to be scrappy in school. There are all kinds of ways to make money on the side. In the springtime I use to aerate lawns, in the fall, clean gutters. Cash business. Lots of opportunities on the web these days. You are too old to just be a profesional student with no income.

Good luck.

I've never heard of a graduate program where you have a lot of time to spare... or one that smiles on you taking a lot of time off (you know, vacationing). College is the time to party it up... grad programs expect you to focus.

I think everything else I would say has already been said, so I'll leave it at that.