Comments on: Just add it to my tab http://www.livingalmostlarge.com/2008/05/10/just-add-it-to-my-tab/ Trying to live large ...one step at a time Thu, 18 Mar 2010 14:57:04 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: LivingAlmostLarge http://www.livingalmostlarge.com/2008/05/10/just-add-it-to-my-tab/comment-page-1/#comment-1605 LivingAlmostLarge Fri, 16 May 2008 14:20:40 +0000 http://www.livingalmostlarge.com/2008/05/10/just-add-it-to-my-tab/#comment-1605 Trust me sometimes I feel that way as well. Because of our mortgage it feels like a huge hole we're in. Trust me sometimes I feel that way as well. Because of our mortgage it feels like a huge hole we’re in.

]]> By: My.Cold.Dead.Hands http://www.livingalmostlarge.com/2008/05/10/just-add-it-to-my-tab/comment-page-1/#comment-1604 My.Cold.Dead.Hands Fri, 16 May 2008 03:07:35 +0000 http://www.livingalmostlarge.com/2008/05/10/just-add-it-to-my-tab/#comment-1604 It's called the sunk cost fallacy. Basically, it's the idea that I'm in it this deep, I may as well sink a little lower. It's always been a part of the way people make bad decisions, but this generation is the first to be okay with doing it with money on a large scale. It’s called the sunk cost fallacy.

Basically, it’s the idea that I’m in it this deep, I may as well sink a little lower.

It’s always been a part of the way people make bad decisions, but this generation is the first to be okay with doing it with money on a large scale.

]]> By: Philip http://www.livingalmostlarge.com/2008/05/10/just-add-it-to-my-tab/comment-page-1/#comment-1603 Philip Tue, 13 May 2008 03:53:54 +0000 http://www.livingalmostlarge.com/2008/05/10/just-add-it-to-my-tab/#comment-1603 The only good thing going for her is that she's going to be a Doctor. Biggest problem here though is her attitude. The way it is now she'll graduate from Medical school, land a job with a great income, and then decide that she's been <em>sacrificing</em> all these years so she'll finance another new car, an expensive home and who knows what else. The way she's going she'll be broke all the way up to retirement. I'd love it if she sat down next to me... I can tell her what the other side of her situation looks like... It's not much fun. The only good thing going for her is that she’s going to be a Doctor. Biggest problem here though is her attitude. The way it is now she’ll graduate from Medical school, land a job with a great income, and then decide that she’s been sacrificing all these years so she’ll finance another new car, an expensive home and who knows what else. The way she’s going she’ll be broke all the way up to retirement. I’d love it if she sat down next to me… I can tell her what the other side of her situation looks like… It’s not much fun.

]]> By: Livingalmostlarge http://www.livingalmostlarge.com/2008/05/10/just-add-it-to-my-tab/comment-page-1/#comment-1602 Livingalmostlarge Mon, 12 May 2008 19:15:00 +0000 http://www.livingalmostlarge.com/2008/05/10/just-add-it-to-my-tab/#comment-1602 Hmm...Jim you may have a point. Hmm…Jim you may have a point.

]]> By: Jim ~ mydebtblog.com http://www.livingalmostlarge.com/2008/05/10/just-add-it-to-my-tab/comment-page-1/#comment-1601 Jim ~ mydebtblog.com Mon, 12 May 2008 14:19:07 +0000 http://www.livingalmostlarge.com/2008/05/10/just-add-it-to-my-tab/#comment-1601 How much money does a doctor have to earn before it's 'real money'? They aren’t kids either but adults that have made the decision to go to school for a decade to do what they do. I don't think this arrogance of having a 'tab' is anything new to younger people. When you are in college and borrowing money on student loans, living with your credit cards, life is very easy. Flip that around and try to pay off debt, which is much more difficult. Since she has so much in student loan debt, it's nothing to throw a car in the mix. At least she is a doctor and may one day make a salary that would justify her lifestyle. Her line of thinking is not far from the rest though. How much money does a doctor have to earn before it’s ‘real money’? They aren’t kids either but adults that have made the decision to go to school for a decade to do what they do. I don’t think this arrogance of having a ‘tab’ is anything new to younger people. When you are in college and borrowing money on student loans, living with your credit cards, life is very easy. Flip that around and try to pay off debt, which is much more difficult. Since she has so much in student loan debt, it’s nothing to throw a car in the mix. At least she is a doctor and may one day make a salary that would justify her lifestyle. Her line of thinking is not far from the rest though.

]]> By: Livingalmostlarge http://www.livingalmostlarge.com/2008/05/10/just-add-it-to-my-tab/comment-page-1/#comment-1598 Livingalmostlarge Sat, 10 May 2008 21:31:20 +0000 http://www.livingalmostlarge.com/2008/05/10/just-add-it-to-my-tab/#comment-1598 Nope she's going to start medical school in the fall. I am guessing though that she will end up having help from her parents, so I don't know if she'll need $200k in tuition loans. Nope she’s going to start medical school in the fall. I am guessing though that she will end up having help from her parents, so I don’t know if she’ll need $200k in tuition loans.

]]> By: dogatemyfinances http://www.livingalmostlarge.com/2008/05/10/just-add-it-to-my-tab/comment-page-1/#comment-1600 dogatemyfinances Sat, 10 May 2008 18:36:26 +0000 http://www.livingalmostlarge.com/2008/05/10/just-add-it-to-my-tab/#comment-1600 It's hard for me to judge those on the long slog to being a doctor. It's one thing to drive your crummy car, worried about breaking down for a few years in college and grad school. It's another when you're 27 and still years off real money. She probably has no idea what her tab is. If the kids in med school thought about that, they could never make it through. They have to put their heads in the sand. I'm guessing her parents will help her when it comes down to it. It’s hard for me to judge those on the long slog to being a doctor. It’s one thing to drive your crummy car, worried about breaking down for a few years in college and grad school. It’s another when you’re 27 and still years off real money.

She probably has no idea what her tab is. If the kids in med school thought about that, they could never make it through. They have to put their heads in the sand. I’m guessing her parents will help her when it comes down to it.

]]> By: Future Millionaire http://www.livingalmostlarge.com/2008/05/10/just-add-it-to-my-tab/comment-page-1/#comment-1599 Future Millionaire Sat, 10 May 2008 17:49:37 +0000 http://www.livingalmostlarge.com/2008/05/10/just-add-it-to-my-tab/#comment-1599 Wow - I hope she steps into reality soon before its too late. I realize that doctors make very healthy incomes but if she's going to be 100k+ in student loan debt that's a monthly payment of over $1,300. Wow – I hope she steps into reality soon before its too late. I realize that doctors make very healthy incomes but if she’s going to be 100k+ in student loan debt that’s a monthly payment of over $1,300.

]]>