Comments on: Lots of Debt Makes Young People Feel Like They’re in Control http://blogs.discovermagazine.com/discoblog/2011/06/08/lots-of-debt-makes-young-people-feel-like-theyre-in-control/ Quirky, funny, and surprising science news from the edge of the known universe. Fri, 25 May 2012 18:28:00 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: FLOSciences http://blogs.discovermagazine.com/discoblog/2011/06/08/lots-of-debt-makes-young-people-feel-like-theyre-in-control/comment-page-1/#comment-70675 FLOSciences Sat, 11 Jun 2011 23:45:31 +0000 http://blogs.discovermagazine.com/discoblog/?p=17986#comment-70675 I agree with the study. I'm in graduate school with probably more debt that my peers. I do justify living (slightly) beyond my means (and therefore happier) because I will be making more than enough money when I finish school. Sure, I'll have live a little below my means then, but if I'm a little more happy now its worth it. That is, maybe I'll have to live in an apartment for a year after getting a high paying job so I can pay off my debt, and delay getting a house, but if my years of graduate school are more bearable that OK with me. I agree with the study. I’m in graduate school with probably more debt that my peers. I do justify living (slightly) beyond my means (and therefore happier) because I will be making more than enough money when I finish school. Sure, I’ll have live a little below my means then, but if I’m a little more happy now its worth it. That is, maybe I’ll have to live in an apartment for a year after getting a high paying job so I can pay off my debt, and delay getting a house, but if my years of graduate school are more bearable that OK with me.

]]> By: Vogie http://blogs.discovermagazine.com/discoblog/2011/06/08/lots-of-debt-makes-young-people-feel-like-theyre-in-control/comment-page-1/#comment-70540 Vogie Thu, 09 Jun 2011 02:48:44 +0000 http://blogs.discovermagazine.com/discoblog/?p=17986#comment-70540 Yeah, I'll have to agree with Katie. That kinda makes sense, and it doesn't have much to do with debt so much as life expectancy and what you're focused on. My sister and her husband are just 3 years younger than we are, and they're attending -Cons, buying video games by the pair and having a ball. Me & my wife are in the same boat, financially, but since we have children, it's a whole different ball game. Not only is it more mouths to feed, but where they're killing subscription-based dragons, We're feeding mutual funds and trying to live off of one of two incomes so we can pay off the grad school loans as fast as possible. It's two different worlds even though they're in early 20s and we're in mid-20s. Yeah, I’ll have to agree with Katie. That kinda makes sense, and it doesn’t have much to do with debt so much as life expectancy and what you’re focused on.
My sister and her husband are just 3 years younger than we are, and they’re attending -Cons, buying video games by the pair and having a ball. Me & my wife are in the same boat, financially, but since we have children, it’s a whole different ball game. Not only is it more mouths to feed, but where they’re killing subscription-based dragons, We’re feeding mutual funds and trying to live off of one of two incomes so we can pay off the grad school loans as fast as possible. It’s two different worlds even though they’re in early 20s and we’re in mid-20s.

]]> By: Katie Cunningham http://blogs.discovermagazine.com/discoblog/2011/06/08/lots-of-debt-makes-young-people-feel-like-theyre-in-control/comment-page-1/#comment-70511 Katie Cunningham Wed, 08 Jun 2011 18:30:06 +0000 http://blogs.discovermagazine.com/discoblog/?p=17986#comment-70511 Also, young people have yet to have enough time for Bad Luck to strike, and for those debts to suddenly become a crushing weight. Also, as you get older, you stand to lose more when you hit financial downturns. At 20 and single: Get your credit rating screwed up. Maybe lose an apartment. Bummer. At 40, married with kids: Your whole family is upended. The kids are pulled from their expensive extra-curricular activities. Your spouse looks into getting overtime. You face losing your house, being forced to move, forcing your kids into new schools, forcing your spouse to commute longer to work. The topic of divorce looms. More than a bummer. Also, young people have yet to have enough time for Bad Luck to strike, and for those debts to suddenly become a crushing weight. Also, as you get older, you stand to lose more when you hit financial downturns.

At 20 and single: Get your credit rating screwed up. Maybe lose an apartment. Bummer.

At 40, married with kids: Your whole family is upended. The kids are pulled from their expensive extra-curricular activities. Your spouse looks into getting overtime. You face losing your house, being forced to move, forcing your kids into new schools, forcing your spouse to commute longer to work. The topic of divorce looms.

More than a bummer.

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