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dinkleberg

100k in debt?!

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Being married/in a long-term relationship with someone who is in a good financial situation helps.

I'm probably one of the least stressed out people in my law school because of it.

 

 

 

 

 

 

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Ignoring the more obviously ridiculous elements of that post:

200 dollars a month on groceries? And that includes three meals a day plus snacks? How is that even possible anymore, even without ever buying food outside the grocery store? That's roughly just over two dollars a meal.

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16 minutes ago, pzabbythesecond said:

Ignoring the more obviously ridiculous elements of that post:

200 dollars a month on groceries? And that includes three meals a day plus snacks? How is that even possible anymore, even without ever buying food outside the grocery store? That's roughly just over two dollars a meal.

He might be fuzzy or mistaken on the numbers because he's going off of his "friend's" anecdotal experience.

Presumably, since he couldn't even point to himself as an example, @CanadianVeteran is just as "lavish" in his "lifestyle habits" as the rest of us (as in, he doesn't live in a flophouse with a dozen roommates or eat out of dumpsters like he preaches). But he probably figures that he has "earned" the right to be, unlike the "youth" he condescendingly lectures to.

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48 minutes ago, CanadianVeteran said:

assuming things about other people without any evidence.

The irony...

35 minutes ago, CanadianVeteran said:

Finally, @CleanHands, I look forward to your response! I sent you a proper reply (that you deserve) in an earlier message. 

When you reply to someone directly it already gives them a notification, so it was redundant and unnecessary to tag me in an additional post, except as a way of broadcasting that apparently I got under your skin.

As for deserved responses, I don't think anything you wrote merits further comment.

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12 hours ago, CanadianVeteran said:

This post is true. Having $100,000 or more debt before going to law school is a lot. If you are in this situation, please deeply reflect your lifestyle habits. Are you drinking coffee at Timmis every day? If yes, why aren't you making it at home and carrying it inside a container? Do you have a lease on a car? If yes, why aren't you getting rid of it and using public transport instead? Do you eat out a lot? If yes, why aren't you cooking at home? I think that lifestyle plays a big role in the amount of debts that we have.

A friend of mine comes from a wealthy family, but his parents were very strict. This is his budget every month: 

$450 - monthly rent for a room inside a home (with 5 other house mates)

$200 - cost of groceries each month

$60 - cost of cell phone bill

$90 - other additional expenses, such as entertainment

Total living costs per month: $800 only. 

He also worked as a security guard on weekends, and made more than enough to cover his monthly living expenses and some of his tuition. As a security guard, he even took his books to work and read them while sitting on a table. The combination of his security guard job and OSAP grants helped him cover the cost of tuition. When he applied to OSAP, he opted for grants only, without loans (i.e. you can select either grants & loans, or grants only in the OSAP application process). During the summers, he worked his butt off at Italian restaurants in downtown Toronto, and earned almost $13,000 per summer (due to the good tips and high working hours each week). 

Even though his parents earned $125,000 per year each at a great Federal Government job, they raised him responsibly, and taught him about to be financially prudent. Instead of spoiling him, they taught him how to be smart with money. This is what Canadian youth need to learn: how to work hard & manage financial resources intelligently, instead of wasting time and money on marijuana & flashy smartphones. 

My friend was able to finish his undergrad with no student loans - despite studying at York University in Toronto and living by himself at York Village (located near Assiniboine Road in North York). 

When I asked him what motivated him to work so hard, he cited the Qur'an and said that apparently "paying or getting interests" is against his Muslim faith. Hence, he had to work extra hard to ensure that he is not involved in activities which are non-permissible in his faith. 

Students need to be responsible like this fellow. Amazing role model, and inspirational story. I salute his parents for raising him this way.

Thank you,

CV 

 

Are you sure he can get "grant" with that kind of income? Did he report his "tips" income ?

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This article from PrecedentJD is an example of how a hard worker and a great student can end up with six figure loans. Graduating with student debt (especially from an expensive professional program with a gruelling schedule) is not a moral failing. 

Also, there should be an “ok boomer” auto-reply for out of touch and condescending posts about the ~youth~.

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7 hours ago, CanadianVeteran said:

To make it easier for you to understand, let me break it down into simple steps

1. Buy in bulk. For example, instead of getting 200 grams of rice, get a 10 lbs or 40 lbs sack of rice instead. If you can't buy in bulk for a particular item (because it would rot or get spoiled), only buy as much as you need. Don't waste food - this is very irresponsible; 

it's not that simple for a small person. i don't own a car (which i'm sure you approve of), and i can't manage a 40 lb sack of rice on the ttc as this is like half my body weight. unless you're gonna help me carry it i'll stick to my 200 grams of rice thanks.

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22 minutes ago, levin said:

 

it's not that simple for a small person. i don't own a car (which i'm sure you approve of), and i can't manage a 40 lb sack of rice on the ttc as this is like half my body weight. unless you're gonna help me carry it i'll stick to my 200 grams of rice thanks.

Do you even lift bro?

 

Personally I max out at the 43 lb bag of rice but hope to reach the 50 lb bag by the end of March. This last bit of rice is the hardest.

Edited by JohnStuartHobbes
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9 hours ago, CanadianVeteran said:

Dear @pzabbythesecond, this is definitely doable. However, it requires hard work and sheer discipline. To make it easier for you to understand, let me break it down into simple steps: 

1. Buy in bulk. For example, instead of getting 200 grams of rice, get a 10 lbs or 40 lbs sack of rice instead. If you can't buy in bulk for a particular item (because it would rot or get spoiled), only buy as much as you need. Don't waste food - this is very irresponsible; 

2. Shop at more affordable places, such as Superstore, instead of Safeway. Trust me, the few extra dollars add up; 

3. Stay disciplined. Instead of eating out, cook your own meals. Ensure that you are planning your meals and eating responsibly - e.g. instead of devouring 3 plates of chicken and 2 plates of beef stew, eat only as much as your body requires. Make sure that you get the proper amount of nutrients and you have a healthy lifestyle; and 

4. Lastly, if others can do it, you can too. Be positive, be humble, be disciplined. Where there's a will, there's a way! I can eat very well by budgeting only $200 per month and following the steps I listed above. I know other responsible and disciplined students who are also doing the same thing. 

Hope this helps! 

Finally, @CleanHands, I look forward to your response! I sent you a proper reply (that you deserve) in an earlier message. 

Thank you,

CV

Thank you for your service!!

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1 hour ago, JohnStuartHobbes said:

Do you even lift bro?

 

Personally I max out at the 43 lb bag of rice but hope to reach the 50 lb bag by the end of March. This last bit of rice is the hardest.

1. i'm not a bro. 2. no, i don't lift. 3. not impressed you can't even handle the 50 lb bag but good luck 'bro' 

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3 hours ago, levin said:

1. i'm not a bro. 2. no, i don't lift. 3. not impressed you can't even handle the 50 lb bag but good luck 'bro' 

Pretty thin skinned reaction to someone making an obvious joke.

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4 hours ago, Eeee said:

Thank you for your service!!

Is this sarcasm, or are you actually thanking an anonymous and quite possibly trolling person on the internet? 

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Don't spend money recklessly, but don't kill your quality of life over attempting to graduate debt-free. If you need an extra $10k, $20k, $30k to graduate without destroying yourself, do it. If you're in a Canadian law school, you'll be fine in the end. You might need an extra few years to pay off your loans, but you'll be okay. Many people's biggest regret on their death bed is not having fun and enjoying life when they were young. If going to a restaurant and having drinks with friends once a week keeps you happy, keep doing it.

I'm all for not spending money recklessly, but there are degrees. Don't buy caviar every week, but don't eat rice every meal.

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20 hours ago, CanadianVeteran said:

When he applied to OSAP, he opted for grants only, without loans (i.e. you can select either grants & loans, or grants only in the OSAP application process).

It's funny, because this is the financially irresponsible thing to do. Even if you don't need the loans at all, take them and put them into a HISA and pay it back when you graduate right before. You don't get charged interest on them while you're in school. Most people don't realize that by not taking the loans, you're literally losing thousands of dollars (e.g. $10k loan per year for 7 years of school accruing interest).

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1 hour ago, Rashabon said:

Pretty thin skinned reaction to someone making an obvious joke.

dude... pretty lame reaction if you think i was offended by what @JohnStuartHobbes said.

for rashabon i will always try to remember to end with /s or add some silly emoticon such as 😅 😂whenever i am not serious. 

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4 hours ago, easttowest said:

Is this sarcasm, or are you actually thanking an anonymous and quite possibly trolling person on the internet? 

I was wondering the same thing. I decided to give Eeee the benefit of the doubt, believing that someone with the reasoning skills implied by a 172 LSAT couldn't possibly think it makes sense to prostrate oneself in gratitude for a worthless, condescending, and unsolicited sermon on budgeting - purely on the basis that the preacher wore a uniform for 4 years!

-GM

Edited by GrumpyMountie
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45 minutes ago, GrumpyMountie said:

I was wondering the same thing. I decided to give Eeee the benefit of the doubt, believing that someone with the reasoning skills implied by a 179 LSAT couldn't possibly think it makes sense to prostrate oneself in gratitude for a worthless, condescending, and unsolicited sermon on budgeting - purely on the basis that the preacher wore a uniform for 4 years!

-GM

I got a 172

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47 minutes ago, GrumpyMountie said:

I was wondering the same thing. I decided to give Eeee the benefit of the doubt, believing that someone with the reasoning skills implied by a 179 LSAT couldn't possibly think it makes sense to prostrate oneself in gratitude for a worthless, condescending, and unsolicited sermon on budgeting - purely on the basis that the preacher wore a uniform for 4 years!

-GM

does scoring high on the LSAT mean that a person has a good grasp on personal finance or life in general?

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