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2020 Democratic Challengers III: The Wrath of Warren

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Re: 2020 Democratic Challengers III: The Wrath of Warren

aparch said:
Buying one $3 average coffee, five days a week, for 50 weeks (because subtract holidays) = $750.

Loan balance = $100,000

Monthly payments assume a 7% average interest rate on the standard, 10-year federal repayment plan.

Monthly Student Loan Payment = $1,161
Monthly Coffee Cost = $62.50

A $15/hr job would pay $31,200/yr before taxes.
Monthly take home gross at $15/hr = $2,600
Deduct taxes, etc. = $1,820 monthly net.


That student loan payment is a fu**ing mortgage payment. Go **** yourself. The kids can buy coffee once in a while.
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You take home less than $2600/month at $15/hr...it was around $1800/$2000 for me in Indiana when I started my current job at just short of $16/hr.
 
Re: 2020 Democratic Challengers III: The Wrath of Warren

aparch said:
Spartanforlife4: Don't forget they can save money by not needing a smart phone either. Why would they need something so fancy? Get a flip phone and a pay-as-you-go plan from Wal-Mart. Local libraries have computers they can use to update their resume and job hunt!
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This is also truth. I'm being serious, with how much smart phones cost today. I'm a functioning adult with a dumbphone. :p
 
Re: 2020 Democratic Challengers III: The Wrath of Warren

The Rube said:
Buying coffee is a morning routine.
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Yeah, when you're 70 and need to check in with your geriatric friends at the Holiday station every 5:45 am to let them know you're still breathing. :p

The Rube said:
AGAIN, it's NOT the reason, but it is a part of it. When you can save a little bit/cut costs, why wouldn't you?
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Yes, I get that there are times where cuts need to be made. Eating out for dinner every night isn't fiscally responsible. Discretionary funding needs to be cut down when you're in college/recently graduated and budgeting.

But getting a cup of coffee and an avocado toast once a week *ISN'T* a contributing factor to debt when you're six figures underwater already. Is it something that shouldn't take place every day? Absolutely. Do we all need the mental health day of a "normal" life instead of worrying ourselves sick over finances every waking moment of our loan? Absolutely as well.
 
Re: 2020 Democratic Challengers III: The Wrath of Warren

MinnesotaNorthStar said:
You take home less than $2600/month at $15/hr...it was around $1800/$2000 for me in Indiana when I started my current job at just short of $16/hr.
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$2600 was the gross. Then there is the $1820 (2600*.70) for monthly net take home after taxes. Seventy percent is roughly what I've used since college as a ballpark to quickly estimate taxes.
 
Re: 2020 Democratic Challengers III: The Wrath of Warren

aparch said:
Yeah, when you're 70 and need to check in with your geriatric friends at the Holiday station every 5:45 am to let them know you're still breathing. :p

Yes, I get that there are times where cuts need to be made. Eating out for dinner every night isn't fiscally responsible. Discretionary funding needs to be cut down when you're in college/recently graduated and budgeting.

But getting a cup of coffee and an avocado toast once a week *ISN'T* a contributing factor to debt when you're six figures underwater already. Is it something that shouldn't take place every day? Absolutely. Do we all need the mental health day of a "normal" life instead of worrying ourselves sick over finances every waking moment of our loan? Absolutely as well.
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For the last 10-15 years, there have been people I know that cannot go a day without their Starbucks/Caribou. It's crazy. (Believe me, I'm the same way with my Monster Rehab Arnie Palmer drinks).

As for smart phones (and let's throw in fitbits, I see more and more of those every day)...how many are gonna skimp on those, if you're making the leap? Honestly.

And for a THIRD time, it's not THE reason for the debt, but it does contribute. NICKEL AND DIME, people. A few dollars here and there every week or month or year, it adds up.
 
Re: 2020 Democratic Challengers III: The Wrath of Warren

The Rube said:
For the last 10-15 years, there have been people I know that cannot go a day without their Starbucks/Caribou. It's crazy. (Believe me, I'm the same way with my Monster Rehab Arnie Palmer drinks).

As for smart phones (and let's throw in fitbits, I see more and more of those every day)...how many are gonna skimp on those, if you're making the leap? Honestly.

And for a THIRD time, it's not THE reason for the debt, but it does contribute. NICKEL AND DIME, people. A few dollars here and there every week or month or year, it adds up.
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You know if you'd cut down on your Monster Energy drinks, you could afford a smart phone? ;)
 
Re: 2020 Democratic Challengers III: The Wrath of Warren

With the current price of education and the stagnant wages, it almost doesn’t matter if they buy two cups a day.
 
trixR4kids said:
its like $2 at caribou (not much cheaper at the gas station for a large, maybe by like 40 cents) and it’s not the reason people are tens of thousands if not hundreds of thousands in debt.
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Dam...... caribou here is kd 1.750 ($5.78) for a large latte

Just finishing mookie’s morning serving now. Later on he will get an iced latte or salted caramel boudino :D

Of course mookie already paid off his student loans ;)
 
Re: 2020 Democratic Challengers III: The Wrath of Warren

Yes. We know how math works. When you add a number to a different number, the resulting number is higher than both. Great.

Doesn't mean these loans aren't downright predatory and terrible. What a stupid conversation. A distraction the evil ********s responsible for it are welcoming, I'm sure.
 
Re: 2020 Democratic Challengers III: The Wrath of Warren

state of hockey said:
Yes. We know how math works. When you add a number to a different number, the resulting number is higher than both. Great.

Doesn't mean these loans aren't downright predatory and terrible. What a stupid conversation. A distraction the evil ********s responsible for it are welcoming, I'm sure.
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I have never said otherwise.
 
state of hockey said:
Yes. We know how math works. When you add a number to a different number, the resulting number is higher than both. Great.

Doesn't mean these loans aren't downright predatory and terrible. What a stupid conversation. A distraction the evil ********s responsible for it are welcoming, I'm sure.
Click to expand...

End of the day nobody is forced to take out a loan
 
Re: 2020 Democratic Challengers III: The Wrath of Warren

I know this one guy who is irresponsible and that’s why there’s a student loan debt problem in this country.
 
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