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As most of you know, Iâm a graduate student in here in Florida since 2000. My financial background is about as average as you can get. My parents are considered middle class, and as a result, financial aid isnât as readily available. In my opinion, students
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1 year ago
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1 year ago
Jon, if the students here on campus would save even 5% of the money they spend on booze and partying, they'd be so better off. But I guess that's where the disconnect occurs. Only a handful of students in my opinion really worry about the future. The rest live in the present. Problem is, their present doesn't seem that interesting (beer ping pong anyone?).
1 year ago
Yes, student loan lines and 0% APR credit cards provide a low cost of capital. Unless you a proven track record and a risk management plan, don't play with leverage. Borrowing is leverage.
How many people have the discipline to put it in a CD and make a couple hundred a year from arbitrage?
Danger!
1 year ago
Am I advocating borrowing to invest? Yes and no. I can only guess what your age or background is but have you been on a college campus lately? The amount of stupidity on site financially astounds me. Instead of blowing your cash on booze and other non-essentials, invest it. Or like you said, arbitrage works very well. Sure, 4% of $10,000 on a simple basis is $400 per year but it pays if you do have the discipline. I'm not saying to go out and take a loan out if you can avoid it. But some of us have such large student loans outstanding it wouldn't concern me taking out a little extra even if it's just to learn how to invest. The markets need some sort of tuition payment, right?
I guess my problem is I figure anyone who has any good handle on their finances and their future would have some sort of knowledge and/or concept of risk management. I really need to stop assuming that most folks even really care about their financial well being. I mean heck, both my parents and my wife's parents don't!