Tuesday, August 25, 2015

We 'bout to Make Millions

This first post calls for some introduction.

I'm Amber-- he's Danny. We have a baby son, Maxwell.

This is us:

We have a combined student loan debt of $470,500.

Did you just pee your pants a little? I know I did when I realized just how much debt we incurred-- just by going to school and trying to be good people. Hopefully you are feeling better about the $30,000 of credit card debt you have. Seems like chump change now! But maybe you have crazy loans like us. Either way, we are confident that you can dig yourself out by applying the same principles we will apply.

Here we will openly discuss our journey from having half a million dollars in debt to becoming millionaires! Or at least feeling like millionaires when we dig ourselves out of this mess.

Danny is currently attending dental school with the steep rate of tuition at $67,846 per year for 4 years. This does not include cost of living expenses. His interest is fast accruing-- already (while still in school) he owes more than $40,000 in interest (which is more than my law degree cost, btw).

I recently graduated from lawschool with tuition at $11, 620 per year for 3 years. I also had one student loan from my undergraduate degree of $3,500.  So my grand total of debt of $38,360 plus interest which is accruing on the daily.

Yikes spikes.

I don't know what we were thinking about money when we decided to attend professional schools. I think we just thought we would magically be able to pay off our loans. Now that they are coming due I am realizing there is nothing magical about it.

Follow our path from being in the red to glorying in the green $$$