Just did the math... before age 25 (I'm 24) I should be totally debt-free

[WillyBrandt]

And in posession of my Corolla and my college degree... with just a bit in my IRA. And straight teeth (that loan finally paid off today!)

9 more months or so to go, with just a bit of reasonable discipline.

Sorry, I'm a little happy at the realization.

I tell you, Quicken is the best program in the world. Keeps you honest. All my friends my age planned poorly and are saddled with beautiful SUVs, car bills, and debt.

[madaboutharry]

1. If you can dicipline yourself and put

$100 away each month, you should have well over a million dollars sitting there waiting for you when you get ready to retire.

[WillyBrandt]

2. The trick to it is to put it BEYOND YOUR CONTROL.

When it's automatic, you adjust. If you have to rely on, say, skipping restaurant meals, you're going to be in a bad state.

[7th_Sephiroth]

3. yaaay you

start puttin money away each month whatever you can afford after bills and food and you will have plenty of money after your retired

[WillyBrandt]

4. I'm going to try--I know. It's weird that you have to save to be old

when you're very young, but it's really the only way...

[7th_Sephiroth]

5. stick the money in a seperate account

and let it grow intrest, too, make sure NEVER to touch it, when i was working at burger king even i was able to put $100 in a special account and another in a spending account

[WillyBrandt]

6. That's an excellent idea. You have to trick yourself

into being financially good. I was thinking of getting an AmEx--despite the yearly charge--because it's a charge card and not a credit card. That would force me to not think of plastic as an infinite reserve, but instead money I'd have to pony up within 30 days...

[7th_Sephiroth]

8. i got a check card from my credit union

for the one i deposit into i have taped to the inside wall of my closet in a hard to reach area

[Bunny]

7. Good for you!

Stay out of debt, it' a horrible trap. Pay cash as much as possible, save for your retirement, etc. Take it from an old-timer - you will never regret saving your money. Never. And good for you for getting through college debt free! :toast:

[WillyBrandt]

12. I mean, I think I'll pay off my student loans...

[unblock]

9. here's the REAL key to saving:

the easy part is to sock away $xxx each paycheck.

the hard part is to stick with it. here's a hint:

everyone has emergencies. stuff comes up you didn't plan for or realize how much it costs. it isn't always bad stuff either, engagement rings and weddings, e.g., are expensive.

the real trick is, if you have to dip into your savings, you MUST REPAY yourself. continue to sock away $xxx each month AND an additional $yyy each money until you've repaid yourself. it's NOT ENOUGH to simply get back to socking away $xxx each month.

you can have setbacks, but don't let yourself get derailed.

[vetwife]

10. Good for you Congrats but

you obviously don't have 3 kids, a mortgage, a car, 7 mouths to feed, or else born very well off. If all of the above is not the case then we need you in Washington because we ain't never gonna get outta debt in the US.

[WillyBrandt]

13. No, I'm very lucky, and trying to fix things up now for later.

It's obviously much easier being a single guy. Not well off born at all.

[WillyBrandt]

That's a good idea--owing yourself money...

[WillyBrandt]

15. That's a good idea--owing yourself money...

[aquart]

11. I hate you. No offense.

I will die in debt.

[onebigbadwulf]

14. Good on you mate!

By the time I finish med school my debt will be about 200K!

Oy oy oy.

[WillyBrandt]

16. But you'll be an MD--you'll be fine, mate!