Well, good mail day...Coupon for a free SunChips ( from their facebook promo), sample bag of new Ritz Pretzel Crackers ( from facebook promo) and also sample of Puffs Klennex (Vocal Point Sample).
On the other side of frugality, we have paid off our debt, but our 2 vechiles BOTH broke down this past week (week of Easter) so that really cost a bundle! We have redone our budget to pay it off, but WHEW!
Which brings me to the topic of conversation, that I would love to hear feedback on from you! My husband has been out of a job ( except for his 8 to 10 hours a week at a fast food joint) for over a year now. He didn't qualify for a Pell Grant, so going back to school wasn't even on his radar....until now, He has decided to go back to college. I have estimated this bachelor's degree to be 5 years long at a price tag of $35,000 to $40,000. He will be getting a student loan to pay for it.
So, While I support him on this decision, I am also concerned about the cost. We are trying to save for a few things. 1. a better home to live in 2. retirement and 3. college for the kids. I am concerned his going back to college will put those dreams on hold and creating debt for us.
What do you all think? I really support him going back to school... I believe he needs to for so many reasons. At the same time, how can we keep the costs down and make sure we can keep everything else in check?
On an unrelated note...I am VERY BEHIND ON COUPONS!!! I am like 3 weeks +++ behind!!! LOL..I have 2 BIG boxes to clip and sort...So, if you find I am MIA....now you know why!! Hehehehe!!!
Subscribe to:
Post Comments (Atom)
Posts
5 comments:
I think you two already do such an amazing job of cost-cutting! I don't really have any suggestions, but just wanted to share my support!
Hi Angie-
We had a similar situation 8 years ago, my husband went back to school for his Masters and we took out all student loans. At the time he was working fulltime, and his masters program was nights and weekends. It took him 4 years to complete, about $20,000 in student loans (we took out the bare minimum to cover tuition even though he was approved for more), he's been done for almost 4 years now and we still have about $13,000 in student loans.
The degree did help him get a better job and higher salary in the end (initially the job was lower paying but a huge step forward career-wise, got him into his new field), but it has taken many years to reap the benefits. I was always very supportive of his decision to go back to school, even though the 4 years he was in school were very long and lonely - literally all of his free time (nights and weekends) were spent studying - VERY little family time. We cherished the occasional day or evening that he would take a break from studying. Luckily my kids were very young and don't remember dad being a bit absent for all those years.
Financially we were not quite in the same situation as you since he was still working fulltime and I worked part-time for a year (after son was born) then full time again, but even then we weren't able to save much and did rack up a lot of credit card debt - we were basically living paycheck to paycheck. We're now working hard to pay off the debt and become debt free, and DH is searching for his next career move, he's been here 5 years now and is ready for the next step - and higher pay.
The decision to have him go back to school was a good one for us - I always supported it even through the difficult times and it was the best thing for him, professionally and personally - it was a huge personal goal for him and something that I know was important for him to achieve. In addition to his fulltime job he has now, he also teaches online courses through a local tech college - something else that provides extra income, and he really enjoyes. He wouldn't be able to do that without the degree either.
Its a big decision and it will effect everyone in your family. Even if his classes are during the day, his free time will be occupied with school. Only advice I can offer is to be sure the degree he's going for is in a high-demand field right now - it would be unfortunate to to spend all that time and money on a degree and still now be able to find a job in that field. (Like the degree I have, I majored in History and Anthropology and worked in a museum for 3 years - that job was cut and I haven't worked in my field for 8 years now).
Good Luck!!
Karen
I would support the going back to school.. Because it is a low interest loan and it will help put you in a better place for the home and the retirement. If his pay coming out of school is enough to live debt free when your kids are old enough and you go back to work you can continue to live on one income and bank the rest so to speak.. also.. The loan point you quoted if you over shoot give back the money immediately so that is less in the loan pile. plus there are a ton of scholorships to apply for. Otherwise see about joining the national guard or something.. Guarenteed job and will pay for school.
WOW! Thanks for all the advice! Karen, some of the things you mentioned are also things I have thought of. Our kids are in elementary school and I wonder how that will effect them with daddy studying a lot, but he is going to do an online program.
Also, the comment about a high demand field; he works with computers and I know many of those jobs go oversees. I know very little about the computer industry, but he is going into a computer criminal science program. It's program to help collect evidence for crimes committed online. Since he has a computer background and a criminal justice background, this fits him perfectly...I just don't know if it's a high demand field!!
Keep giving the advice!! I really appreciate it!!
I think a lot of important advice has already been given. I just wanted to say that I personally look at education as an investment. It does cost money up front. But, in the long term it should pay for itself, and then some. As far as whether knowing how in demand that career option is, the school should be able to give you a lot of information about that. I personally will be going back to school some day too. I just need to decide what I want to be when I grow up. LOL!
I think you already do a really good job of cutting your spending, so I don't think you have to worry about that. Unless you are planning on trying to cut even more in order to pay for the loan. With as much as you have cut already I don't know that there would be any room to cut anything else. Obviously, you would know that more than I would. Just some friendly advice, that's all.
Best wishes to you and your family!
Post a Comment