Comments on: Ask me anything 4th edition

By: Always In Style

Always In Style — Tue, 26 Aug 2008 22:00:57 +0000

I have a question for you. I am trying to determine a reasonable budget for food in NYC. I’ve tracked my expenses in the past and had wildly different numbers month to month. Is there a good rule of thumb on what I should be spending to feed both my husband and I in a big city? Thanks!

By: Claire

Claire — Fri, 11 Jul 2008 08:54:53 +0000

Jennifer should definitely take the student loan to pay off the credit cards. You should always aim to borrow money at the lowest interest rate possible, and credit cards are usually at a very high rate of interest. The key thing to remember is that you can’t keep using the credit cards! Cut them up, otherwise you will wind up with student loan and credit card. Learn to live within your budget now and you will reap the benefits when you leave school.

By: Justin

Justin — Thu, 10 Jul 2008 15:44:00 +0000

So, what do you think of the D&D 4th Edition? I’m pretty convinced it’s not real and has been released by a 3rd tier RPG company trying to rip off D&D and doing it poorly.

By: Elisa

Elisa — Thu, 10 Jul 2008 13:59:14 +0000

Love your blog and love these posts!

Jennifer – I’ve done the payoff of credit cards with student loans. Some things to remember – Yes, student loans typically have lower interest rates so it’s nice to use them to clear credit card debt, BUT in the end, if it came down to you not being able to pay either, you would still be stuck paying student loans since they do not go away by filing for bankruptcy. Go ahead and pay off the debt if it makes you feel better, however like it was mentioned here – you have to check your spending. If you pay off your cards only to max them out again, it does you no good to take out the loans. Good luck!

By: "Mo" Money

"Mo" Money — Thu, 10 Jul 2008 13:56:24 +0000

Good point about the student loans. They will stay with you forever or until paid off which ever comes first. Not even bankruptcy will erase student loans. Just a word of caution.

By: karen w

karen w — Thu, 10 Jul 2008 12:46:56 +0000

Jennifer (and others), just a word of caution with the student loans.
Although it IS a better deal (lower interest, deferred payments and tax deductibility) a friend of mine got stung when she took out student loans to pay off joint cc debt. She left her husband, and in the divorce proceedings, got all of the student loan debt (since she was the student and it was in her name) even though she could prove it was used to pay off HIS original debt.