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How long to pay off $100K if making $60K?
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Date: June 12th, 2012 1:14 AM Author: vigorous lilac yarmulke First year I'm living with rents to avoid paying rent - salary is $50K. Second year I plan to move out to low rent apartment and commute, but will prob spend a lot on eating out and drinking. Salary will prob be around $60-70K then increase handsomely. I am going to try to put 50% of my salary towards loan repayment. Possible after 5 years? I'm hoping after 3 years to have $40K paid off. |
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Date: June 12th, 2012 1:24 AM Author: painfully honest rigor boltzmann impossible to determine with only the info you've given (http://www.autoadmit.com/thread.php?thread_id=1968915&forum_id=2#20872292) |
Date: June 12th, 2012 1:24 AM Author: Zippy Stag Film i have $150k on $65k income
i'm planning on doing IBR/minimum payments til the 25 years runs out |
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Date: June 12th, 2012 1:26 AM Author: startling kitty stain 65? Govt? (http://www.autoadmit.com/thread.php?thread_id=1968915&forum_id=2#20872310) |
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Date: June 12th, 2012 1:28 AM Author: Zippy Stag Film nope - i wish, then it'd only be 10 years and i'd get loan repayment assistance from my school (http://www.autoadmit.com/thread.php?thread_id=1968915&forum_id=2#20872330) |
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Date: June 12th, 2012 1:26 AM Author: vigorous lilac yarmulke Srly, over 25 years? I want to be out of debt asap.. (http://www.autoadmit.com/thread.php?thread_id=1968915&forum_id=2#20872313) |
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Date: June 12th, 2012 1:28 AM Author: Zippy Stag Film i feel ya man - can always actually live like a pauper and not do any skiing, golfing, cable tv watching etc and pay off like $20k/year (http://www.autoadmit.com/thread.php?thread_id=1968915&forum_id=2#20872332) |
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Date: June 12th, 2012 1:31 AM Author: vigorous lilac yarmulke I know... (http://www.autoadmit.com/thread.php?thread_id=1968915&forum_id=2#20872345) |
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Date: June 12th, 2012 1:27 AM Author: Carnelian prole property given taxes and living expenses, it typicaly takes about 3 years to pay off debt if you're making that much in salary, if you pay a lot and live frugally
e.g. 100k salary on 100k debt will taek 3 years
make your calculation accordingly |
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Date: June 12th, 2012 1:34 AM Author: vigorous lilac yarmulke So maybe 6-7 years..my main concern is how frugally I'm going to be living ..need new wardrobe, apartment...I'm prob going to live in NYC squander for 4 years. No furniture at all. Whatever. (http://www.autoadmit.com/thread.php?thread_id=1968915&forum_id=2#20872369) |
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Date: June 12th, 2012 7:12 PM Author: Stirring temple No. If you're making 50k, you're receiving 42k. You should live off of 10k a year. Pay 32k every year for 3 years. (http://www.autoadmit.com/thread.php?thread_id=1968915&forum_id=2#20875958) |
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Date: June 12th, 2012 7:19 PM Author: Racy overrated crackhouse brethren Lol no. I make 50k and my take home is 33k. Gotta factor in health insurance and small 401k contribution up to company match. (http://www.autoadmit.com/thread.php?thread_id=1968915&forum_id=2#20875980) |
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Date: June 12th, 2012 7:21 PM Author: soul-stirring hell death wish 1.666667 years. GMAT questions are easy (http://www.autoadmit.com/thread.php?thread_id=1968915&forum_id=2#20875988) |
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Date: June 12th, 2012 7:37 PM Author: shimmering macaca boistinker Eternity (http://www.autoadmit.com/thread.php?thread_id=1968915&forum_id=2#20876023) |
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Date: June 12th, 2012 8:44 PM Author: Wonderful Mentally Impaired Pit Fortuitous Meteor Depends on your interest rate.
If you are locked in at 1.65% like I am, pay as little as you can for as long as you can.
8%? 12%? More? Pay them off as fast as you can. |
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Date: June 13th, 2012 3:44 PM Author: Filthy disturbing clown Why don't you do some basic math and maybe a little Googling and answer your own fucking question? (http://www.autoadmit.com/thread.php?thread_id=1968915&forum_id=2#20880997) |
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Date: June 13th, 2012 4:11 PM Author: vigorous lilac yarmulke lol. I did few estimates of my own actually - just wanted to get the xo official insight. (http://www.autoadmit.com/thread.php?thread_id=1968915&forum_id=2#20881176) |