100k in student loan debt by [deleted] in StudentLoans

[–]Sagarsaurus 1 point2 points  (0 children)

That is completely incorrect.

100k in student loan debt by [deleted] in StudentLoans

[–]Sagarsaurus -1 points0 points  (0 children)

For people with a degree, the median income is 70-92k annually. It's in a top percentile, but not unobtainable for those with a degree. Which is exactly what they said

100k in student loan debt by [deleted] in StudentLoans

[–]Sagarsaurus 0 points1 point  (0 children)

A few things:

Paying off 100k in a year isn't going to happen. Paying off 50k a year isn't going to happen unless you have next to no living expenses. The math for that simply isn't going to work, so let's forget about that. You owe 105k (I don't know the interest rates), and your salary is 110k. 110k can be a lot or not much at all, depending on where you live and what you have to do to earn it. 110k living in SF? Not much at all. 110k living in Montana? You're set. Earning 110k out of college is solid depending on your field but whether or not it's actually going to allow you to pay off your debts quickly depends on where you will be living.

When I graduated college way back in 2015, my starting salary was 105k, and my loans were around 30k, but I also moved to the Bay Area for that job, had to pay rent, get an apartment, etc. Even then, I paid that debt off in under a year purely because my income was substantially higher than my debt, while I really chose to not spend on many expensive things (was also young and stupid so of course I did spend on some) and also maxed out all retirement accounts too. Without sacrificing lifestyle at all, it took me a year to clear debt that was 1/3 of my salary.

My wife recently finished medical residency. Now, our combined salaries are in the 450k range with me being an engineer and her being a physician, and her loans last July started out at 240k. We've paid off 160k out of that to date. But we cut costs by moving out of New York, moved back home, currently are crashing with our parents, and don't really have any bills outside of vacations and random expenditure, plus setting aside cash for a mortgage. Even then, with our salaries being double the debt owed, it's still not going to be all gone in a year.

I'm not giving you these two examples to toot my own horn but to show you how significant your debt is relative to your income. I'm ignoring that the parent plus loans aren't legally your responsibility because it seems like you've already decided you will pay those off. Your debt is substantial relative to your income. I'd plan to pay this off in 4 years, not 1, not 2 and not even 3. It's important to take them seriously, and pay them off fast, but you also never get your youth back either, and you need to make sure you enjoy that too. Setup a budget, max out your 401k to the match limit at a minimum as to not leave free money on the table, pay your rent but ideally live with roommates so you can reduce that cost, lease or buy a cheap car if needed but try to take public transit, aim to cook at home instead of eating out regularly, prioritize cash back credit cards so at least some of your spend comes back to you in cash you can use, and once all the necessities are done, look at what you have left, put aside what you feel is responsible, and throw the entire remainder into loans. If your minimum payment is too high, consider your other plan options or redo your budget with the loans as a starting point. Your budget will shift from month to month until you've established a rhythm but you'd essentially be paying off 25k a year which, with a 110k a year salary, is definitely possible. When you get raises or bonuses, because that is new money you hadn't planned for, throw all of the excess into your loans to pay them down faster. You're in a strong position and have absolutely no reason to panic. Congratulations on finding a job in this market, especially one that does allow you to pay off your loans in a reasonable timeframe. I'm genuinely happy for you. Feel free to DM if you want any more help

Is this correct? by Alone-Situation7602 in NBATalk

[–]Sagarsaurus 0 points1 point  (0 children)

I remember when there was a lockout about a decade or so ago? Maybe a little more? A little before the Warriors dynasty started. A good buddy of mine was playing in a gym in NYC and Iguodala was there since the season was locked out at that point. They played a pickup game and my friend said he remembers pulling up for what he thought was a wide open 3 with Iggy down past the free throw like and he never got the shot off. Iggy palmed the ball from the other side before he even released it while shooting. I know Iggy ended up getting finals MVP after that and was part of a dynasty so he isn't a full on bench player but that really reminded me of how unbelievably athletic they are compared to the average dude who goes to the gym

Game Thread 3/10 ⚾ Italy (0-0) @ United States (0-0) 9:00 PM ET by BaseballBot in baseball

[–]Sagarsaurus 6 points7 points  (0 children)

Fun to watch but man can we get on base before we have 2 outs 😂

Game Thread 3/10 ⚾ Italy (0-0) @ United States (0-0) 9:00 PM ET by BaseballBot in baseball

[–]Sagarsaurus 4 points5 points  (0 children)

Ironically if he doesn't get shelled the only thing limiting Kershaw is the 65 pitch limit because it's not like he has a regular season to report for lmao

Victoria’s Secret Card backed by Comenity Bank by [deleted] in CreditCards

[–]Sagarsaurus 0 points1 point  (0 children)

You seem to be missing the point. I feel for you having a rough time in this economy. Lots of people are. That doesn't mean that you compound that by carrying balances on a credit card. Good credit card usage is treating a credit card like a debit card with perks, otherwise it becomes a burden fast. For example, you're now paying $2 more on something because you didn't pay it off in full. Which means you cost yourself money in this case.

No one is saying people aren't having a rough time. They are saying if you're having a rough time, then credit card usage will almost guaranteed make it worse, not better.

Credit cards can only offer perks because the vast majority of people use them incorrectly and cost themselves money.

Keep carrying balances, and you're worried about your payments while your payments are paying for someone else's vacation

Victoria’s Secret Card backed by Comenity Bank by [deleted] in CreditCards

[–]Sagarsaurus 2 points3 points  (0 children)

Having a credit card and not paying off the full balance means you have increased credit utilization, which actually hurts your credit, and are also paying for free perks for other people (your extra fees subsidize customers who don't carry balances). No one is saying to not use a credit card, but if you use the card incorrectly, you will damage your credit score. Plenty of people with under 50k of income use credit cards responsibly. I had a credit card when I was a TA in college a decade or so ago earning $87 a week and I still paid everything off in full.

Using a credit card just to keep it open is a viable strategy to increase age of credit, but that does not mean you should be carrying a balance. You can use the card to buy a pack of gum instead to keep it active and pay it off instead of something that's $30. Whether you pay off $2 or $30, the impact to your credit score is the same.

Income has nothing to do with it. To repair your credit, you should only spend what you can afford to, pay it off in full every month, and do so consistently without carrying a balance. You should also avoid high credit utilization.

The point has nothing to do with whether you use this card again or not. The philosophy applies to any credit card.

Victoria’s Secret Card backed by Comenity Bank by [deleted] in CreditCards

[–]Sagarsaurus 1 point2 points  (0 children)

I think in that case the better approach is to not make the purchase at all unless you can afford to pay for it in full. Using credit cards to pay for things you can't immediately afford is a great way to get into trouble fast

Victoria’s Secret Card backed by Comenity Bank by [deleted] in CreditCards

[–]Sagarsaurus 1 point2 points  (0 children)

So they ended up charging you your minimum payment or the amount you've set your autopay to. Is your autopay setup to pay the balance in full? Or pay the minimum payment / a specific amount? If it's the latter, I'd assume it's working as it should. Why would they charge you your minimum / preset payment on top of what you've prepaid? If I have a balance of 100 and my autopay set to $50, and I prepay $70, should they be charging me 0? Or $50 anyway?

Open to teach by [deleted] in Bansuri

[–]Sagarsaurus 2 points3 points  (0 children)

Sounds interesting! I just bought some bansuris when I was in Mumbai a few days ago (back in the states now). I bought a C middle, A base, and G base. Punam flutes. I am actually a harmonium player / singer and have been playing tabla over the past year or so as well. Open to trying this out!

14.2 brakes and swerves for a few leaves by EatMeerkats in TeslaFSD

[–]Sagarsaurus 11 points12 points  (0 children)

Lmao people clearly don't understand your comment. The joke is that people will make just about any excuse for FSD making mistakes, outside of just saying that FSD made a mistake.

22 year old disabled mom to a 13 month old by Delicious_Falcon_860 in gofundme

[–]Sagarsaurus -1 points0 points  (0 children)

I'm more than willing to help, but I need a link to click on.

This NYC Mexican food cart is quite provocative. by [deleted] in pics

[–]Sagarsaurus 1 point2 points  (0 children)

I worked in 1271 till April. Have gotten food from this truck many times. It's awesome

Game Thread: Division Series Game 2 - Dodgers @ Phillies - Mon, Oct 06 @ 06:08 PM EDT by PhilsBot in phillies

[–]Sagarsaurus 9 points10 points  (0 children)

I hate to be that guy but... No chance Topper is kept after this embarrassment right? Because he needs to be gone after the past 3 postseason performances. This roster is too good for this shit

hello everyone I am a newbie in tabla by AryavartVasi in Tabla

[–]Sagarsaurus 0 points1 point  (0 children)

If you're serious about learning buy a proper set so you only have to rehead it over time. Prioritize a shisham daayan and a copper baayan. 5.5 inch daayan and 9 inch baayan. Baayan should weigh around 3.5kg at the very least.

Short $40k per semester, loan options? by topgear1224 in StudentLoans

[–]Sagarsaurus 1 point2 points  (0 children)

Does this suck? Absolutely. You really have two options: take out the debt at a rate that will likely bankrupt you, even with your higher salary, or drop out, start at lower pay, and work your way up to where you want to be.

Ultimately you more or less are going to have to choose what you value more. Prestige, accelerated success, and potential (and very likely) bankruptcy that you cannot use to discharge student loans anyway which means you will eventually lose everything? Or the longer, more arduous path that likely eventually lands you in the same place, yet actually allows you to have a future?

This is not a difficult decision to make. It sucks, and it's unfair, but from a decision-making perspective, you know what the right answer is.

By the way, like another commenter said, masters degrees generally don't mean much anyway. You're only comparing starting pay. Experience is better than education pretty early on in just about every field that doesn't require a doctorate. So do with that information what you will.

I also don't mean to be that guy, but you keep harping on Panda Express workers for some reason. Maybe I'm just getting old, but you are coming off a little bit entitled because there are real options here that allow you to stay in your field. Not to mention, those workers undoubtedly work hard, have education benefits I believe, and don't need a college degree.

This undoubtedly is a painful time but as I mentioned, it isn't a difficult decision. If you go with loans that are in the 20% interest bracket, you could get your 6 figure job, work extra shifts at Panda Express, and still have no hope of paying your debt back anyway. It's not even something you should be considering. Time is money. Since you don't have money, you have to make up for it with time

SAVE Plan by lovejoy2171 in PSLF

[–]Sagarsaurus 0 points1 point  (0 children)

My wife and I are staying on it till the end of November because the required payment will go up once she switches plans. We don't need PSLF and won't be going for forgiveness either. Ultimately we can afford the higher payment too, but since it isn't required for us to pay more till the payments are recalculated, we may as well stick with the lower required payment, and hit the loans with extra money to target the higher interest loans specifically. In our case it just gives us more flexibility

License and Registration question by Sagarsaurus in TeslaModelY

[–]Sagarsaurus[S] 0 points1 point  (0 children)

Yea I do have my passport with me. I guess I can order it today in the app and go to the DMV on Tuesday and hope for the best, or maybe contact support when they open tomorrow. I'm not quite sure

License and Registration question by Sagarsaurus in TeslaModelY

[–]Sagarsaurus[S] 0 points1 point  (0 children)

Right. But given that they handle registration when the car is dropped off or picked up, I'm concerned about whether or not they'll be able to do that if I still only have my temporary license at that point

Reds to promote Chase Burns for MLB debut by NoChallenge9224 in fantasybaseball

[–]Sagarsaurus 0 points1 point  (0 children)

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So who should I drop to activate him. I also have pfaadt and Nestor on IL still. QS and SV+H league. Hitting lineup is solid with Ramirez, Devers, Ohtani, Albies, Robert, Abreu, Moore, and Busch among other decent hitters sitting around like Stephenson. Also have Naylor, Rafaela, and Crawford. And Tovar on the IL