Sunday, June 10, 2012

Thinking outside the Box

Thinking outside the Box

By Keith Bunn Jr.
June 10, 2012

I've mentioned it many times in past blogs, on Facebook, and Twitter that getting extra jobs are a great way to earn extra cash to pay down debts, save for some future wants, or in the case of what I’d like to talk about this week, saving to pay for college.

With student loan debt now exceeding credit card debt in this country, students and parents really need to look for alternative ways to pay for college other than just signing their names on the dotted line at the bottom of a student loan application.

In the book, Debt-Free U: How I Paid for an Outstanding College Education Without Loans, Scholarships, or Mooching off My Parents, by Zac Bissonnete. Zac tells his story of how all through high school he worked doing all kinds of odd jobs. By the time he graduated, he had saved $40,000 for his four years of college. Dave Ramsey has told a story many times about some young guys renting a power washer and going door to door asking home owners if they wanted their driveways power washed and sealed. They had earned enough money to pay for their next year of college. I heard another story just the other night about this guy who went on Craig’s List, found used, free, furniture that needed repairs, repaired them and then sold them on Craig’s List. He also walked along busy roads and collected recyclables and turned them in. In one year, he earned $4,200. I know that, that’s doesn't sound like a lot of money, but if he did that on the side, on his days off from a part time job… you get the picture.

The truth is, none of those things I mentioned above are easier than signing your name at the bottom of a loan application, but neither is working your tail off trying to pay back the student loans you took out during your college days. The myth that student loans are “Good” debt because it is to pay for your higher education, which in turn will get you the better job to pay off your student loans, is a bunch of bull! There is no such thing as good debt. Debt is debt, no matter how you label it. So don’t fall for that crap. The question is, if you’re planning on going to college and you’re not sure how you’re going to pay for it, what can you do to earn some extra money to go towards college? Think outside the box of how normal people pay for college and you’ll be way ahead of the game.

 I hope my posts inspire you to look at what you’re doing financially and because of it; possibly make some changes that will cause you to win financially. I also look forward to reading your views on any articles or postings that I may post. For more money facts and ideas, follow me on Facebook, or Twitter. Thanks you! 

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