Stayin' alive with a 2.5

(Study Tips, Dealing With Stress, Maintaining a Social Life, Financial Aid, Internships, Bar Exam, Careers in Law . . . )
Zazelmaf
Posts: 229
Joined: Sat Mar 26, 2011 5:42 pm

Re: Stayin' alive with a 2.5

Postby Zazelmaf » Fri Feb 10, 2012 2:23 pm

Also, the debt thing confuses me. If I pay 15% of my debt off per month for 20 years, isn't it forgiven? Say I made $30,000, and pay 15% of that off a year, I still have over $25,000 a year. That's a lot more than I live off right now, so what's the big deal about the debt thing? I don't care to own a home or property, to live a luxurious life. I can make other money on the side, if I choose. For example, having a room mate, etc.

I don't get how the debt would be that crippling.

User avatar
I.P. Daly
Posts: 920
Joined: Fri Nov 19, 2010 3:27 pm

Re: Stayin' alive with a 2.5

Postby I.P. Daly » Fri Feb 10, 2012 2:42 pm

Zazelmaf wrote:Also, the debt thing confuses me. If I pay 15% of my debt off per month for 20 years, isn't it forgiven? Say I made $30,000, and pay 15% of that off a year, I still have over $25,000 a year. That's a lot more than I live off right now, so what's the big deal about the debt thing? I don't care to own a home or property, to live a luxurious life. I can make other money on the side, if I choose. For example, having a room mate, etc.

I don't get how the debt would be that crippling.


You noted that law school is a "waste of time." Why are you continuing with law school if your goal is to teach English overseas? Will you be teaching English common-law legalise?

Edit: You may also want to research the issue of debt and eligibility to obtain a foreign work visa...
Last edited by I.P. Daly on Fri Feb 10, 2012 2:49 pm, edited 1 time in total.

pupperoni
Posts: 60
Joined: Tue Jan 31, 2012 9:48 pm

Re: Stayin' alive with a 2.5

Postby pupperoni » Fri Feb 10, 2012 2:43 pm

lol trolololol no way someone can be this stupid

Zazelmaf
Posts: 229
Joined: Sat Mar 26, 2011 5:42 pm

Re: Stayin' alive with a 2.5

Postby Zazelmaf » Fri Feb 10, 2012 3:09 pm

pupperoni wrote:lol trolololol no way someone can be this stupid


could you please elaborate?

User avatar
Extension_Cord
Posts: 592
Joined: Mon Sep 05, 2011 3:15 pm

Re: Stayin' alive with a 2.5

Postby Extension_Cord » Fri Feb 10, 2012 3:24 pm

Zazelmaf wrote:Also, the debt thing confuses me. If I pay 15% of my debt off per month for 20 years, isn't it forgiven? Say I made $30,000, and pay 15% of that off a year, I still have over $25,000 a year. That's a lot more than I live off right now, so what's the big deal about the debt thing? I don't care to own a home or property, to live a luxurious life. I can make other money on the side, if I choose. For example, having a room mate, etc.

I don't get how the debt would be that crippling.


You can't make it on 25k a year. You need atleast 35k to sustain just yourself in a below average neighborhood (in a cheaper city), eating McDonalds, and driving the same type of car you drive now. Thank your parents for the 22 years of supporting you!

Truth is, most of us will probably start making around 40k upon or shortly after graduation. Yeah you can make it you go to a state school or if your on a scholarship. If your paying 40k tuition + living expenses + going to a TTT or doing below median at even a T1 it will be nearly impossible to make ends meet and a very miserable experience. Of course there are exceptions, both ways though.

pupperoni
Posts: 60
Joined: Tue Jan 31, 2012 9:48 pm

Re: Stayin' alive with a 2.5

Postby pupperoni » Fri Feb 10, 2012 4:02 pm

Zazelmaf wrote:
pupperoni wrote:lol trolololol no way someone can be this stupid


could you please elaborate?


haha you went full retard man, to troll effectively you can't do that.

User avatar
mattviphky
Posts: 1117
Joined: Fri Jan 28, 2011 6:43 pm

Re: Stayin' alive with a 2.5

Postby mattviphky » Fri Feb 10, 2012 4:32 pm

I don't believe that this is real, but just in case it is, I would like to say one thing. OP, join the military. You don't even have to enlist, just become an officer. With a law degree and your Bachelor's, you are more than qualified. Become an officer in the USAF, and you will have a decent salary, amazing benefits, and they will pay off some of your loans. Also, I think it qualifies for LRAP (if you have one). You will get free housing, food, and you'll have an easier time getting a job when (and if) you get out. Seriously man, look into it.

I say USAF because the life of an officer in the Air Force is probably the least structured and "military" than the other branches.
Last edited by mattviphky on Fri Feb 10, 2012 4:33 pm, edited 1 time in total.

User avatar
sunynp
Posts: 1899
Joined: Tue May 24, 2011 2:06 pm

Re: Stayin' alive with a 2.5

Postby sunynp » Fri Feb 10, 2012 4:32 pm

I don't think he is a troll. I hope I am wrong because it would be better if his life isn't really this screwed up.

OP - You better look really carefully into IBR. The rules are complicated. Your wife's salary will count towards IBR. Plus I'm not sure what happens with the interest, the federal government will pay for 3 years of interest if you can't afford it, but I'm not sure what happens after that.

User avatar
acrossthelake
Posts: 4432
Joined: Sat May 16, 2009 5:27 pm

Re: Stayin' alive with a 2.5

Postby acrossthelake » Fri Feb 10, 2012 6:36 pm

Zazelmaf wrote:Also, the debt thing confuses me. If I pay 15% of my debt off per month for 20 years, isn't it forgiven? Say I made $30,000, and pay 15% of that off a year, I still have over $25,000 a year. That's a lot more than I live off right now, so what's the big deal about the debt thing? I don't care to own a home or property, to live a luxurious life. I can make other money on the side, if I choose. For example, having a room mate, etc.

I don't get how the debt would be that crippling.


You'll have nothing for retirement. I would not depend on Social Security having much of anything left when we're of retirement age. It also doesn't really adjust for inflation all that much. Anyway 30K is generous. You risk ending up in a minimum wage job for most of your life making around 18K a year if you aren't proactive about your life.

I mean, I guess if you have no desire to have a family you could continue to just live the poor grad student life until you can't afford anything in retirement age. This would be more disastrous if you were ever hoping to have kids.

thesteelers
Posts: 218
Joined: Sun May 01, 2011 6:06 am

Re: Stayin' alive with a 2.5

Postby thesteelers » Fri Feb 10, 2012 9:52 pm

pupperoni wrote:
Zazelmaf wrote:
pupperoni wrote:lol trolololol no way someone can be this stupid


could you please elaborate?


haha you went full retard man, to troll effectively you can't do that.


+1

User avatar
BaiAilian2013
Posts: 919
Joined: Sun May 03, 2009 4:05 pm

Re: Stayin' alive with a 2.5

Postby BaiAilian2013 » Fri Feb 10, 2012 11:08 pm

Timing-wise, how have you been married 11 years and not had a real job? ...did you need your parents' permission to get married?

User avatar
furcifer
Posts: 90
Joined: Thu Feb 09, 2012 6:06 pm

Re: Stayin' alive with a 2.5

Postby furcifer » Fri Feb 10, 2012 11:11 pm

Tell that to all the hommies in the hood and trailer parks.......welfare, foodstamps, it's lifetimes and free and untaxed if you live in the poor area zipcodes that you refer to.

Extension_Cord wrote:
Zazelmaf wrote:Also, the debt thing confuses me. If I pay 15% of my debt off per month for 20 years, isn't it forgiven? Say I made $30,000, and pay 15% of that off a year, I still have over $25,000 a year. That's a lot more than I live off right now, so what's the big deal about the debt thing? I don't care to own a home or property, to live a luxurious life. I can make other money on the side, if I choose. For example, having a room mate, etc.

I don't get how the debt would be that crippling.


You can't make it on 25k a year. You need atleast 35k to sustain just yourself in a below average neighborhood (in a cheaper city), eating McDonalds, and driving the same type of car you drive now. Thank your parents for the 22 years of supporting you!

Truth is, most of us will probably start making around 40k upon or shortly after graduation. Yeah you can make it you go to a state school or if your on a scholarship. If your paying 40k tuition + living expenses + going to a TTT or doing below median at even a T1 it will be nearly impossible to make ends meet and a very miserable experience. Of course there are exceptions, both ways though.

pupperoni
Posts: 60
Joined: Tue Jan 31, 2012 9:48 pm

Re: Stayin' alive with a 2.5

Postby pupperoni » Fri Feb 10, 2012 11:35 pm

i am pretty sure "homies" in trailer parks and hoods don't splurge money on useless professional degrees and would have avoided their situations if they could.

User avatar
furcifer
Posts: 90
Joined: Thu Feb 09, 2012 6:06 pm

Re: Stayin' alive with a 2.5

Postby furcifer » Sat Feb 11, 2012 1:03 am

True,GED be hard Yo. But not the point. The point is you can live on said amount of money or less.


pupperoni wrote:i am pretty sure "homies" in trailer parks and hoods don't splurge money on useless professional degrees and would have avoided their situations if they could.

pupperoni
Posts: 60
Joined: Tue Jan 31, 2012 9:48 pm

Re: Stayin' alive with a 2.5

Postby pupperoni » Sat Feb 11, 2012 12:25 pm

the point isn't whether you can survive with that amount of money, the point is whether you should put yourself in that situation when you can clearly avoid it right now especially since OP has a wife and might want kids one day.

User avatar
furcifer
Posts: 90
Joined: Thu Feb 09, 2012 6:06 pm

Re: Stayin' alive with a 2.5

Postby furcifer » Sat Feb 11, 2012 12:30 pm

Your point perhaps. He wrote " You can't make it on 25k a year. You need atleast 35k to sustain just yourself in a below average neighborhood (in a cheaper city), eating McDonalds, and driving the same type of car you drive now."

Thus my counterpoint.

pupperoni wrote:the point isn't whether you can survive with that amount of money, the point is whether you should put yourself in that situation when you can clearly avoid it right now especially since OP has a wife and might want kids one day.

Zazelmaf
Posts: 229
Joined: Sat Mar 26, 2011 5:42 pm

Re: Stayin' alive with a 2.5

Postby Zazelmaf » Sun Feb 12, 2012 7:14 pm

I lived in San Francisco in a pretty nice $750 a month place and traveled a couple times in a year (Europe and Mexico) as well as smaller trips along the coast on around $30,000, so it can easily be done. I have learned to be very frugal in life, which is a skill.

As far as law school. I am not going to complain about it. I will be starting my own business after law school I have decided. I think it's really my only option, and it's better than gambling with finding a job. Sure, it's tough I've heard, but I have seen it done.

As for having kids, we both do not want them. As far as being supported by parents, I moved out at 19, when I was married, my wife was 17. She had permission. We never relied on family since then. We struggled a lot, but we learned a hell of a lot. My wife has a great chance of getting a teaching job after graduation, so that will help.

Thanks for your replies, and thanks for caring.

Geist13
Posts: 739
Joined: Sat Oct 10, 2009 3:21 pm

Re: Stayin' alive with a 2.5

Postby Geist13 » Sun Feb 12, 2012 7:28 pm

Extension_Cord wrote:You can't make it on 25k a year. You need atleast 35k to sustain just yourself in a below average neighborhood (in a cheaper city), eating McDonalds, and driving the same type of car you drive now. Thank your parents for the 22 years of supporting you!


Dude, are you serious? I agree that OP is incredibly silly. However, this is not remotely true. I've lived in a city, making 17k per year, paying 400 per month in loans, paying for my own (shitty) health insurance, car insurance, rent, groceries, utilities, cable etc. etc. etc. It blows, I wasn't able to save a penny for two years. But it's absurd to say that it's impossible to live on less than 35k per year in a below average neighborhood.

User avatar
Extension_Cord
Posts: 592
Joined: Mon Sep 05, 2011 3:15 pm

Re: Stayin' alive with a 2.5

Postby Extension_Cord » Sun Feb 12, 2012 7:43 pm

Geist13 wrote:
Extension_Cord wrote:You can't make it on 25k a year. You need atleast 35k to sustain just yourself in a below average neighborhood (in a cheaper city), eating McDonalds, and driving the same type of car you drive now. Thank your parents for the 22 years of supporting you!


Dude, are you serious? I agree that OP is incredibly silly. However, this is not remotely true. I've lived in a city, making 17k per year, paying 400 per month in loans, paying for my own (shitty) health insurance, car insurance, rent, groceries, utilities, cable etc. etc. etc. It blows, I wasn't able to save a penny for two years. But it's absurd to say that it's impossible to live on less than 35k per year in a below average neighborhood.


According to the information you provided, you make 1307 a month before taxes, then pay over 400 in loans each month which leaves you with $907 to cover rent, utilities, gas, food, car insurance... and emergencies. How much is your rent? I live in a typical American city where rent starts at $500 for shitty 1 bedroom 1 bathroom shared apartment. All of my classmates pay more than that for their dorms. How in the world do you pay for gas, food, utilities, and insurance with the remaining $400.

Here, car insurance is expensive, maybe $130 for the bottom grade w/ no history for a 23 yo male. This has to be more than most areas admittedly. But average must be around $100. I can eat on $10 a day, thats $300+ a month. How is it possible to pay for electricity ($60+) water ($20) and keep in mind, this is assuming you pay $0 in taxes which is obviously not the case.

There is simply no way that is true. I didn't figure in health insurance, taxes, utilities, or emergencies (flat tires, medicine...). Your taxes on $1307 would still be like -$200+ a month.
Last edited by Extension_Cord on Sun Feb 12, 2012 7:45 pm, edited 1 time in total.

User avatar
Cupidity
Posts: 2214
Joined: Sun Jun 07, 2009 10:21 pm

Re: Stayin' alive with a 2.5

Postby Cupidity » Sun Feb 12, 2012 7:43 pm

Zazelmaf wrote:Nope, not a flame. In fact, a rather true story. I am going to stick this out, I think, and not listen to the negativity any longer.


Bro' you are on the wrong website.

dreakol
Posts: 572
Joined: Sat Nov 13, 2010 1:56 pm

Re: Stayin' alive with a 2.5

Postby dreakol » Sun Feb 12, 2012 8:15 pm

Extension_Cord wrote:
Geist13 wrote:
Extension_Cord wrote:You can't make it on 25k a year. You need atleast 35k to sustain just yourself in a below average neighborhood (in a cheaper city), eating McDonalds, and driving the same type of car you drive now. Thank your parents for the 22 years of supporting you!


Dude, are you serious? I agree that OP is incredibly silly. However, this is not remotely true. I've lived in a city, making 17k per year, paying 400 per month in loans, paying for my own (shitty) health insurance, car insurance, rent, groceries, utilities, cable etc. etc. etc. It blows, I wasn't able to save a penny for two years. But it's absurd to say that it's impossible to live on less than 35k per year in a below average neighborhood.


According to the information you provided, you make 1307 a month before taxes, then pay over 400 in loans each month which leaves you with $907 to cover rent, utilities, gas, food, car insurance... and emergencies. How much is your rent? I live in a typical American city where rent starts at $500 for shitty 1 bedroom 1 bathroom shared apartment. All of my classmates pay more than that for their dorms. How in the world do you pay for gas, food, utilities, and insurance with the remaining $400.

Here, car insurance is expensive, maybe $130 for the bottom grade w/ no history for a 23 yo male. This has to be more than most areas admittedly. But average must be around $100. I can eat on $10 a day, thats $300+ a month. How is it possible to pay for electricity ($60+) water ($20) and keep in mind, this is assuming you pay $0 in taxes which is obviously not the case.

There is simply no way that is true. I didn't figure in health insurance, taxes, utilities, or emergencies (flat tires, medicine...). Your taxes on $1307 would still be like -$200+ a month.


lol you are getting ripped on on your car insurance little breh

User avatar
furcifer
Posts: 90
Joined: Thu Feb 09, 2012 6:06 pm

Re: Stayin' alive with a 2.5

Postby furcifer » Sun Feb 12, 2012 8:30 pm

Extension_Cord wrote:
Geist13 wrote:
Extension_Cord wrote:You can't make it on 25k a year. You need atleast 35k to sustain just yourself in a below average neighborhood (in a cheaper city), eating McDonalds, and driving the same type of car you drive now. Thank your parents for the 22 years of supporting you!


Dude, are you serious? I agree that OP is incredibly silly. However, this is not remotely true. I've lived in a city, making 17k per year, paying 400 per month in loans, paying for my own (shitty) health insurance, car insurance, rent, groceries, utilities, cable etc. etc. etc. It blows, I wasn't able to save a penny for two years. But it's absurd to say that it's impossible to live on less than 35k per year in a below average neighborhood.


According to the information you provided, you make 1307 a month before taxes, then pay over 400 in loans each month which leaves you with $907 to cover rent, utilities, gas, food, car insurance... and emergencies. How much is your rent? I live in a typical American city where rent starts at $500 for shitty 1 bedroom 1 bathroom shared apartment. All of my classmates pay more than that for their dorms. How in the world do you pay for gas, food, utilities, and insurance with the remaining $400.

Here, car insurance is expensive, maybe $130 for the bottom grade w/ no history for a 23 yo male. This has to be more than most areas admittedly. But average must be around $100. I can eat on $10 a day, thats $300+ a month. How is it possible to pay for electricity ($60+) water ($20) and keep in mind, this is assuming you pay $0 in taxes which is obviously not the case.

There is simply no way that is true. I didn't figure in health insurance, taxes, utilities, or emergencies (flat tires, medicine...). Your taxes on $1307 would still be like -$200+ a month.


Yeah, "Poor People" are just a myth created by the govt to keep us away from their TRUE agenda! :evil:

User avatar
PinkCow
Posts: 786
Joined: Wed Oct 13, 2010 2:03 am

Re: Stayin' alive with a 2.5

Postby PinkCow » Sun Feb 12, 2012 8:53 pm

BaiAilian2013 wrote:Timing-wise, how have you been married 11 years and not had a real job? ...did you need your parents' permission to get married?


+1.

Out of all the wacko stuff in this thread, this stuck out to me the most. And your wife still has years of undergrad left. Wut?? Was she/you 12 when you got married?


EDIT: Just read your last post (still don't really understand what your wife was doing for 11 years: she getting like 12 bachelors?).

OP u crazy boy. Have fun starting a business with no business experience and being certifiably insane.

Geist13
Posts: 739
Joined: Sat Oct 10, 2009 3:21 pm

Re: Stayin' alive with a 2.5

Postby Geist13 » Sun Feb 12, 2012 9:17 pm

Extension_Cord wrote:
Geist13 wrote:
Extension_Cord wrote:You can't make it on 25k a year. You need atleast 35k to sustain just yourself in a below average neighborhood (in a cheaper city), eating McDonalds, and driving the same type of car you drive now. Thank your parents for the 22 years of supporting you!


Dude, are you serious? I agree that OP is incredibly silly. However, this is not remotely true. I've lived in a city, making 17k per year, paying 400 per month in loans, paying for my own (shitty) health insurance, car insurance, rent, groceries, utilities, cable etc. etc. etc. It blows, I wasn't able to save a penny for two years. But it's absurd to say that it's impossible to live on less than 35k per year in a below average neighborhood.


According to the information you provided, you make 1307 a month before taxes, then pay over 400 in loans each month which leaves you with $907 to cover rent, utilities, gas, food, car insurance... and emergencies. How much is your rent? I live in a typical American city where rent starts at $500 for shitty 1 bedroom 1 bathroom shared apartment. All of my classmates pay more than that for their dorms. How in the world do you pay for gas, food, utilities, and insurance with the remaining $400.

Here, car insurance is expensive, maybe $130 for the bottom grade w/ no history for a 23 yo male. This has to be more than most areas admittedly. But average must be around $100. I can eat on $10 a day, thats $300+ a month. How is it possible to pay for electricity ($60+) water ($20) and keep in mind, this is assuming you pay $0 in taxes which is obviously not the case.

There is simply no way that is true. I didn't figure in health insurance, taxes, utilities, or emergencies (flat tires, medicine...). Your taxes on $1307 would still be like -$200+ a month.


I don't know what I made before taxes, after taxes was around the 17000 mark though. I paid 400 a month in rent for a shared 2 bedroom; it wasn't shitty, just a good deal. (I've never paid 500 in rent and have always lived in 500,000+ cities). I only had to pay for one meal a day because one of my jobs was in food service with lax food policies; I spent very little money on food. As far as emergencies, fuck I had no money for those; and that was a constant worry. It was rough, I'm lucky nothing happened. It was also the middle of the recession and there were no jobs. I know I had some uncommon circumstances (god free food is so awesome). The point is that you don't need 35k just to get by. I mean, this year my school allotted me 13K for cost of living in loans and I'm not exactly living super frugally (though I no longer have a car, those things are expensive).

edit: also 17000/12 does not equal 1307 . . .

User avatar
Extension_Cord
Posts: 592
Joined: Mon Sep 05, 2011 3:15 pm

Re: Stayin' alive with a 2.5

Postby Extension_Cord » Sun Feb 12, 2012 10:24 pm

Geist13 wrote:
Extension_Cord wrote:
Geist13 wrote:
Extension_Cord wrote:You can't make it on 25k a year. You need atleast 35k to sustain just yourself in a below average neighborhood (in a cheaper city), eating McDonalds, and driving the same type of car you drive now. Thank your parents for the 22 years of supporting you!


Dude, are you serious? I agree that OP is incredibly silly. However, this is not remotely true. I've lived in a city, making 17k per year, paying 400 per month in loans, paying for my own (shitty) health insurance, car insurance, rent, groceries, utilities, cable etc. etc. etc. It blows, I wasn't able to save a penny for two years. But it's absurd to say that it's impossible to live on less than 35k per year in a below average neighborhood.


According to the information you provided, you make 1307 a month before taxes, then pay over 400 in loans each month which leaves you with $907 to cover rent, utilities, gas, food, car insurance... and emergencies. How much is your rent? I live in a typical American city where rent starts at $500 for shitty 1 bedroom 1 bathroom shared apartment. All of my classmates pay more than that for their dorms. How in the world do you pay for gas, food, utilities, and insurance with the remaining $400.

Here, car insurance is expensive, maybe $130 for the bottom grade w/ no history for a 23 yo male. This has to be more than most areas admittedly. But average must be around $100. I can eat on $10 a day, thats $300+ a month. How is it possible to pay for electricity ($60+) water ($20) and keep in mind, this is assuming you pay $0 in taxes which is obviously not the case.

There is simply no way that is true. I didn't figure in health insurance, taxes, utilities, or emergencies (flat tires, medicine...). Your taxes on $1307 would still be like -$200+ a month.


I don't know what I made before taxes, after taxes was around the 17000 mark though. I paid 400 a month in rent for a shared 2 bedroom; it wasn't shitty, just a good deal. (I've never paid 500 in rent and have always lived in 500,000+ cities). I only had to pay for one meal a day because one of my jobs was in food service with lax food policies; I spent very little money on food. As far as emergencies, fuck I had no money for those; and that was a constant worry. It was rough, I'm lucky nothing happened. It was also the middle of the recession and there were no jobs. I know I had some uncommon circumstances (god free food is so awesome). The point is that you don't need 35k just to get by. I mean, this year my school allotted me 13K for cost of living in loans and I'm not exactly living super frugally (though I no longer have a car, those things are expensive).

edit: also 17000/12 does not equal 1307 . . .


That changes a lot. Noone ever states how much they make after taxes, silly goose. 17k after taxes is probably around 22k. I think its impressive that you can make it on that.




Return to “Forum for Law School Students”

Who is online

Users browsing this forum: No registered users and 4 guests