Can’t help but feel discouraged when ppl say they make 100k+ and have no debt and can buy luxurious things but I have tons of student debt and now credit card debt from paying so much for my loans.

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Posting as :
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Don’t compare

likesmart

People lie. Idk where you are OP but here in nyc people walk around with Canada goose jackets get bottle service and are living paycheck to paycheck with mounds of debt. What you see and hear on the surface is far from the truth

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Can’t wait to get one from the people who sell those knock off rolexes and handbags

Don’t feel discouraged. Feel motivated. Unless they are trust fund babies, most people had to start from your shoes. I started my first jobs in fast food and movie theaters flipping burgers and serving pop corn.

likeuplifting

Do you keep up with high valued Unicorn startups? You’ll see the name of the company on that list

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You mean the dbag posts here that say stuff like: “I’m 25. No debt, $797k in the bank. Am I behind?” do nothing but sow discontent in your heart? Huh. Who would have thought.

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Lol

Consider where you started and where you are now. Don’t compare yourself to others. I grew up dirt poor and make far more than anyone in my family could have dreamed of. If you’re comparing yourself to trust fund kids you’ll never be happy.

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I feel you! So many people don’t talk about their struggles and you are not alone, even in consulting. My family was poor growing up and I’m in a lot of debt myself, but I try to think of my progress and potential and that helps. It’s not forever and like others said, you can’t compare yourself to someone who came from money or is fortunate enough to have no debt.

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Everyone has their journey and timeline. Create discipline and be proud of your self everyday you lower your debt by a $1. Do the best you can and “living your best life “ will mean different things to different people... and for you it can be balance between paying off debt and finding ways to be proud of your self for the progress you are making

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I think the best choice I made in life was to go to a local cheap community college and not get in huge amounts of student debt. At the time, people told me I’m dumb and all this nonsense about ROI and I will make it back going to a fancier college I got accepted to. But I did the math early and realized college is an expensive scam and students loans are a scam. And I was right. The amount of money the government makes off student loans is more revenue than top banks make in revenue. Everyone thinks the government makes money from only taxes... secretly the government has been milking this education student loan cash cow and they don’t want it to stop

I found articles supporting both statements. Depending on the accounting methodology you’re using to calculate overall profit. If I lend out millions of loans at 3-6 percent and watch the interest and principal roll in, my overall net value will be positive even if many people default or don’t completely pay back the loan. With the millions of students taking loans the risk is quite diversified.

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