I get that. There's a very small % of people who could using his criteria though. It's just unrealistic, and becoming even more so, with the ever increasing tuition costs for college.

 

These kids are graduating school with $50K+ in student loans they have to pay off. Most aren't going to be able to pay those off for at least 5-7 years, and then it'd take another 7-10 years to raise the capital required to get a house with a payment they can afford. People would be looking at mid 30s before they owned a home. That's just not realistic.

Maybe it should be realistic. If want you laid out was the norm the last 6 years may have gone a completely different direction for our economy. Just like it's idiotic to finance a car for 6 or 7 years isn't financing a house for 30 a little goofy? Look at how much money you pay above and beyond.

 

Maybe the average college student should be smarter about all his/her decisions. Work your way though college so you can pay for it as you go. If not all of it then most of it. Maybe start with a 2 year school for your associates before going on to a 4 year school. It is definitely harder to do now but you can still go to school, get a 4 year degree and not be $50,000 in debt when your done.

 

Everything is realistic if your willing to make sacrifices.

Maybe it should be realistic. If want you laid out was the norm the last 6 years may have gone a completely different direction for our economy. Just like it's idiotic to finance a car for 6 or 7 years isn't financing a house for 30 a little goofy? Look at how much money you pay above and beyond.

 

Maybe the average college student should be smarter about all his/her decisions. Work your way though college so you can pay for it as you go. If not all of it then most of it. Maybe start with a 2 year school for your associates before going on to a 4 year school. It is definitely harder to do now but you can still go to school, get a 4 year degree and not be $50,000 in debt when your done.

 

Everything is realistic if your willing to make sacrifices.

 

:thumb:

The "unrealistic" argument is the one that Ramsey rightly goes after. It is very realistic for the average American family. Most people just don't desire the discipline that is necessary.

 

What discipline is that, waiting until you're 40 to move out of Mom and Dad's basement?

What discipline is that, waiting until you're 40 to move out of Mom and Dad's basement?

 

Rent cheap.

Maybe it should be realistic. If want you laid out was the norm the last 6 years may have gone a completely different direction for our economy. Just like it's idiotic to finance a car for 6 or 7 years isn't financing a house for 30 a little goofy? Look at how much money you pay above and beyond.

 

Maybe the average college student should be smarter about all his/her decisions. Work your way though college so you can pay for it as you go. If not all of it then most of it. Maybe start with a 2 year school for your associates before going on to a 4 year school. It is definitely harder to do now but you can still go to school, get a 4 year degree and not be $50,000 in debt when your done.

 

Everything is realistic if your willing to make sacrifices.

 

What a student makes working through college doesn't even come close to covering tuition costs. Associates degrees are about as useful as toilet paper these days. And unless you're smart enough to get a scholarship for school, you're looking at near $50K now days in college debt.

Rent cheap.

 

Rental prices these days are as high or higher than a mortgage payment. How are you possibly saving money when you're paying the equivalent of a mortgage payment each month for rent?

I get that. There's a very small % of people who could using his criteria though. It's just unrealistic, and becoming even more so, with the ever increasing tuition costs for college.

 

These kids are graduating school with $50K+ in student loans they have to pay off. Most aren't going to be able to pay those off for at least 5-7 years, and then it'd take another 7-10 years to raise the capital required to get a house with a payment they can afford. People would be looking at mid 30s before they owned a home. That's just not realistic.

 

Negative UKMF thats a choice made by people to go into debt for schooling, and if they do so, they have to live with the consequences of that choice.

Rental prices these days are as high or higher than a mortgage payment. How are you possibly saving money when you're paying the equivalent of a mortgage payment each month for rent?

 

You're not looking hard enough for a cheap rental.

 

Here's what I can tell you: Our family is as average as they come. My wife & I both had student loans, to the tune of about $35k. We never owned a home until we were 30-years-old. At the time we bought the home, we were making $70k combined. When we bought the home ($142,000), we had no debt at all & we got it for 15 years fixed. If things go as planned, the house is paid off next summer.

 

Our average family is living proof that it is realistic. It just isn't easy.

Negative UKMF thats a choice made by people to go into debt for schooling, and if they do so, they have to live with the consequences of that choice.

 

You're absolutely correct it's a choice. It's a choice that has to be made if they want to have any real shot at success in life. You can't accomplish jack without a college degree these days (or trade school).

You're not looking hard enough for a cheap rental.

 

Here's what I can tell you: Our family is as average as they come. My wife & I both had student loans, to the tune of about $35k. We never owned a home until we were 30-years-old. At the time we bought the home, we were making $70k combined. When we bought the home ($142,000), we had no debt at all & we got it for 15 years fixed. If things go as planned, the house is paid off next summer.

 

Our average family is living proof that it is realistic. It just isn't easy.

 

I'm not looking at all for rent, I have a house. :lol:

The "unrealistic" argument is the one that Ramsey rightly goes after. It is very realistic for the average American family. Most people just don't desire the discipline that is necessary.

 

WINNER!!!!

 

No car payments since 1997. The last 4 cars I purchased with cash.

 

2002 - 1993 Jeep Grand Cherokee (180K miles) $2000, sold in 2008 for $1000 with 250K miles on it.

2005 - 1997 Jeep Grand Cherokee (130k miles) $4000, still have it, 210K miles.

2008 - 1996 Jeep Grand Cherokee (105K miles) $3800, sold in 2012 for $1800 with 175K miles on it.

2012 - 1998 Jeep Grand Cherokee (123K miles) $3200, still have it, 135k miles.

 

One had some issues that cost me $2000 over time, however all the others no more than the usual, tires, oil change, brakes, etc... Don't need a fancy ride that will put me in debt, I just need to get from point A to B.

You're absolutely correct it's a choice. It's a choice that has to be made if they want to have any real shot at success in life. You can't accomplish jack without a college degree these days (or trade school).

 

:ohbrother: No degree by either my wife or myself less than 5 years from paying off the house, no car payments, no credit cards, and sending 3 girls through 12 years of catholic school........I think we've accomplished quite a bit, and have enjoyed every minute of it. Yeah, we don't go on vacations, and sacrafice quite a bit but it's worth it.

What a student makes working through college doesn't even come close to covering tuition costs. Associates degrees are about as useful as toilet paper these days. And unless you're smart enough to get a scholarship for school, you're looking at near $50K now days in college debt.

 

I'll tell you what an associates degree is useful in getting, a bachelors degree. Maybe you misunderstood what I said. Go to a JUCO or community college and get your associates degree. Then go get your bachelors degree.

 

Example, I could go get my Associates in Accounting at the Henderson Community College (part of KCTCS) for $144/credit hour. It will take 61 credit hours to get the degree. Total cost would come to $8784 + books. Are you telling me I couldn't find a job making $4392 per year (plus cost of books)? You could work at McDonalds 20 hours per week making $8/hr and make $8320/year.

 

Apply the same model to your next 2 years at Western or Murray or UK. Even if you have to take out a loan for your first year, work part time, save every dime you can and pay as much as you can the second year. At worse your coming out with $10,000 or $15,000 in student loans versus $50,000.

You're absolutely correct it's a choice. It's a choice that has to be made if they want to have any real shot at success in life. You can't accomplish jack without a college degree these days (or trade school).

 

That's not true but it definitely makes things easier.

I'm not looking at all for rent, I have a house. :lol:

 

:lol2:

 

I wasn't trying to say that you specifically needed to look harder; I'm just saying rent can be found cheaper.