I always loved the old war movies, when the submarine captain would look thru the periscope, and see what was happening "up there." I wanted a periscope of my own! To see what was coming, and dodge that torpedo! I was reminded of this when I read a blog just now about student debt. The writer was lamenting about his bad spending habits for part of his student years, and how he wished he knew then what he knows now etc. etc. I had a similar conversation with my DD#2 a few days ago.. She was commenting (whining) about her $50 a month student loan payment. She has a friend in her FIFTH year of college, and has taken out many "generous" loans to finance it all. Yes, she has a part-time job, but she doesn't make enough for gas for the car most weeks. Her Grandmother has co-signed a lot of these loans, because her parents credit rating is in the sub-basement range. So I asked her how much she thinks her friends payments might be, when (if) she finally graduates? She was speechless! (and thats something) And if she thought about Grandma, who is on the hook for a lot of that balance if she defaults? A big dose of reality! Even when you think you've got your eye on the periscope, a torpedo can find you!
The Periscope of Finances
July 19th, 2010 at 10:02 pm