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Who let the elephant in .

May 2nd, 2011 at 08:34 am

Im digging all the feedback and encouragement so Thanks! Its great to know other people have been where we are and lived to tell about it. So....we actually sat down and created a spread sheet for all our debts (aka the elephant). We have decided that on Sunday evenings after the kids are in bed we will open a bottle of wine and go over our speadsheet for the week and get on the same page. This week we started by talking about how the elephant makes us feel, then we moved to who actually brought the animal in- which we got a little heated but in the end we concluded that one of us held the door open while the other one pushed him through the front door and we both helped to keep him feed and happy. The tricky part is in trying to figure out how to release snickers (aka elephant) back into the wild. Do I finish my last semester at school (creating more debt) or go to work (requiring child care and more money we dont have). I feel like finishing school is my ticket to creating wealth and security not to mention the earning power to live well. This is where you experienced folks come in...what do you think? Im all ears and so is snickers.

6 Responses to “Who let the elephant in .”

  1. creditcardfree Says:

    Tell us more about your degree...what job will you be getting? Can you find cash to pay for the final semester? Is there something(s) you can sell or return to make cash? Overtime for your DH? What can you do to take on the least amount of debt in the next 6 months? Can you cut an expense like cable? Look at EVERYTHING you spend money on and to decide how close you can get to paying tuition in cash.

  2. MonkeyMama Says:

    It depends.

    Only knowing that you have one semester left (& not much else), I'd be inclined to finish school.

    That said, depends what your big financial picture is, the degree you are pursuing, etc.

    Why all or nothing? Why not do everything possible to limit the amount of debt you take on this last semester? Work at nights, too?

  3. Tcat Says:

    My degree will be in psychology. Its an extended "super major" with some grad level classes mixed in. My husband is a adjunct college professor and his schedule is day and night so finding a full time or even part time is tricky. We works a few hours during the day then goes back for a few hours at night. I do not have a problem working. Cash for the final semester is not a possibility and we dont qualify for grants. We dont have cable but internet is needed for husbands job. I cant imagine trying to come up with 4 grand. Its so frustrating.

  4. FrugalTexan75 Says:

    Have you tried for scholarships?

  5. ceejay74 Says:

    If you're only $4K away from a psychology degree, that seems like an acceptable amount of additional debt to take on, considering the earning potential you will add.

  6. Joan.of.the.Arch Says:

    I'd try to finish the degree, too. However, if you just cannot do it financially, perhaps you will be able to look forward to a time when your spouse is full time and as a job benefit his family can take classes tuition free. I know that's a long shot as so many schools are using a high percentage of part-timers, but it might happen for you (and your kids).

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