There is nothing like a negative net worth to shatter any sense of self-worth.
Tonight, at FPU, we all turned in slips with the amount of our total debt. The idea was to determine how much debt we had as a small group, so we can work on paying it down. I assume that we would do the same at the end of the 13-week class to see how much progress we’ve made.
I just happened to sit next to the kid with the calculator. I KNOW my number was the highest. Unfortunately for me, the people in my group didn’t have to count their mortgages. That would have made things a little more even. They didn’t have to include their mortgages and I did have to include my student loans. Brutal. Just brutal.
So, like the masochist I am, I had to come home and really figure out my net worth. It was homework for next week too, but I had to do it right away. Ugh. I’m worth more dead than alive. Too bad life insurance policies don’t pay out if you off yourself!
Getting even more yucky…but I have a whole list of goals to achieve to keep me going. These are the things I want to accomplish once I’m out of debt, or at least well on my way.
Here is my public service announcement: avoid student loans at all costs. Take a gap year and work your butt off, get a job while you’re in school and work full time in the summers. Start applying for scholarships your freshman year of high school. Go to a community college for two years. Go to school in-state! Just don’t graduate with a mortgage worth of loans! You don’t have a house to show for it, just a very, very expensive piece of paper.