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Financial
Topic Started: Aug 27 2008, 05:09 PM (53 Views)
Sedulius
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Field Marshal
I got bored, so I started doing financial stuff.

I figured I'd get my car back soon, so I'll need insurance. Bloody insurance sucks when you're 19. State Farm is $150 a month, GEICO is like $140 a month (though they gave me basically a freebie month because of my good grades), and Progressive is $76 a month. I know who I'm getting.

But eventually this led to me thinking about credit. I've run into some curiosities about my money before so I wanted to check it out. 712 (Good) credit score, though over $7000 in installment debt (my college loans, which are no big deal). Everything else is clean, and I was a bit surprised by this. The system hasn't screwed me over. I'm happy with that. :) Just wish college was free. Then I wouldn't even have to worry about those loans. That's what the Army is for I guess... :(
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Tristan da Cunha
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Science and Industry
My finances cause me a lot of stress.

I'm debt free now but next year I'll have to take out some big loans and in 3 years I will owe ~$200,000 in education debt.

I also dabbled in stock market speculation which I warn you is really a major health hazard. Last week I lost $1,400 within a couple hours gambling on mortgage GSE stocks. This morning I made $300 back but I still rue over that huge loss. I'm of course breaking the number one rule of stock market speculation which is "never look back."
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Porcu
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"Work is the curse of the drinking classes."

I dread the day I'll actually have to start thinking about my personal finances...
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Nag Ehgoeg
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The Devil's Advocate

I'm in... about £4500 of debt (student loans).
My credit score is 50. I have no idea if it's different to the american system, but that's not enough for a credit card.
My ISA is empty. My flexi-saver has £100 and my current account has nearly £400.

My car insurance is £1000 a year.

My income is about £2000 a year.
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New Harumf
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Bloodthirsty Unicorn
Nag Ehgoeg
Aug 28 2008, 06:42 AM
I'm in... about £4500 of debt (student loans).
My credit score is 50. I have no idea if it's different to the american system, but that's not enough for a credit card.
My ISA is empty. My flexi-saver has £100 and my current account has nearly £400.

My car insurance is £1000 a year.

My income is about £2000 a year.
$2000.00 a year for insurance!!!!???? Oh, but you did have your accident, so maybe you are being penalized for that!

It's good to see some of you are actually concerned about your credit and finances while young. One word of advise - when you start working full-time, if your place of employment offers a 401K plan make sure you put money in it, especially if your employer matches. Alway put up to whatever the employer matches! If he matches the first 5%, put in 5%. It is free money. Stay away from gimmick investment schemes unless you have money to burn. Make sure to buy some bonds (I Bonds in the US are a good way to protect against inflation, and make much more sense then the old EE Savings Bonds).
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