http://www.paidtwice.com/2009/05/06/adopt-these-four-mindsets-to-break-free-from-debt/#comment-101178 jay Wed, 06 May 2009 20:01:56 +0000 http://www.paidtwice.com/2009/05/06/adopt-these-four-mindsets-to-break-free-from-debt/#comment-101178 Agree with Kev--again! Debt for an education definitely has the upside of investing in a future of greater earnings, and hopefully well being. The hardest thing (I would think) IS being young and not knowing what future earnings and life crises will come your way. If I had any advice (I think about this a lot having two twenty-somethings), it'd be to develop that tightwad mentality or mindsets such as you talk about, ASAP. Live close to that first job, use public/cheap transportation until you can't stand it. Start that car fund right away, make sure you have medical insurance and save up to $5000 just for medical expenses, then consider those funds sacrosanct; finally, live within your means: if you have credit cards to "establish credit" set up a bill or two to be auto-paid, then stick the card in a drawer and don't use. If, when we were young and freshly minted, we all had followed your mindsets.... just think where we'd be! Thanks for the thoughtful post. Agree with Kev–again! Debt for an education definitely has the upside of investing in a future of greater earnings, and hopefully well being.
The hardest thing (I would think) IS being young and not knowing what future earnings and life crises will come your way. If I had any advice (I think about this a lot having two twenty-somethings), it’d be to develop that tightwad mentality or mindsets such as you talk about, ASAP. Live close to that first job, use public/cheap transportation until you can’t stand it. Start that car fund right away, make sure you have medical insurance and save up to $5000 just for medical expenses, then consider those funds sacrosanct; finally, live within your means: if you have credit cards to “establish credit” set up a bill or two to be auto-paid, then stick the card in a drawer and don’t use.
If, when we were young and freshly minted, we all had followed your mindsets…. just think where we’d be!
Thanks for the thoughtful post.

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