Members boscal45 Posted September 28, 2007 Members Share Posted September 28, 2007 i took out a bit of extra money to cover books this semester, and i had about $200 left over. so i emailed the business office to ask them to release it to me, and i get an email back saying "a check for $2,000 will be sent to you next week." apparantly, i had some financial aid come through that i didnt expect. i could put all of it back towards my loan. but, i do need a new bass. and a new rig wouldnt hurt. im thinking im going to go 50/50 with it. what would you guys do? Link to comment Share on other sites More sharing options...
Members fishmanrod Posted September 28, 2007 Members Share Posted September 28, 2007 Need or want? If you need it, ie, current equipment is unreliable, sounds like total ass, etc, etc, cannot do for the gig, you may have to spend. If you just WANT it, well, pay off your loan. Those of us in wealthy societies forget the difference between need and want. We NEED air. We WANT it to smell nice. Cheers! R Link to comment Share on other sites More sharing options...
Members Emprov Posted September 28, 2007 Members Share Posted September 28, 2007 Need or want?If you need it, ie, current equipment is unreliable, sounds like total ass, etc, etc, cannot do for the gig, you may have to spend.If you just WANT it, well, pay off your loan. A huge +1! Link to comment Share on other sites More sharing options...
Members Funkee1 Posted September 28, 2007 Members Share Posted September 28, 2007 Need or want?If you need it, ie, current equipment is unreliable, sounds like total ass, etc, etc, cannot do for the gig, you may have to spend.If you just WANT it, well, pay off your loan.Those of us in wealthy societies forget the difference between need and want. We NEED air. We WANT it to smell nice.Cheers!R+1.If you have workable gear, pay off the loan. The 50/50 thing sounds like a good compromise, but beware!!! If you just have money burning a hole in your pocket, just pay th loan! Link to comment Share on other sites More sharing options...
Members y-o-y Posted September 28, 2007 Members Share Posted September 28, 2007 You could always spend the $200 you thought you were getting and apply the remaining $1800 to the loan principal... Link to comment Share on other sites More sharing options...
Members Pickdust Posted September 28, 2007 Members Share Posted September 28, 2007 Need or want?If you need it, ie, current equipment is unreliable, sounds like total ass, etc, etc, cannot do for the gig, you may have to spend.If you just WANT it, well, pay off your loan.Those of us in wealthy societies forget the difference between need and want. We NEED air. We WANT it to smell nice.Cheers!R ++1 Apply it toward the loan. you'll appreciate this later. The time-value of money only works if you're loaning the money! Link to comment Share on other sites More sharing options...
Members chris-dax Posted September 28, 2007 Members Share Posted September 28, 2007 Pay the loan and figure out your gear problem separately.... No question... Link to comment Share on other sites More sharing options...
Members i_wanna_les_paul Posted September 28, 2007 Members Share Posted September 28, 2007 I'm paying off a student loan now. As said earlier, if it's stuff you just want, I'd put the money away now and let it build interest or pay off loan principal ASAP (depending on what kind of loan you have and what, if any, early repayment penalties may be incurred). But this is coming from the guy who spent ~$2000 of scholarship money on a camera... Link to comment Share on other sites More sharing options...
Members Emprov Posted September 28, 2007 Members Share Posted September 28, 2007 I'm paying off a student loan now. As said earlier, if it's stuff you just want, I'd put the money away now and let it build interest or pay off loan principal ASAP (depending on what kind of loan you have and what, if any, early repayment penalties may be incurred). You know, that's not a bad idea. Providing the interest on the loan is pretty low, deferred or whatever, he could even get a $2k/12mo CD or something and make a few bucks for doing nothing more than sitting on his butt. Keep in mind that there are income tax implications though. Link to comment Share on other sites More sharing options...
Members slapthefunkyfour Posted September 28, 2007 Members Share Posted September 28, 2007 Coming from someone who has screwed up their credit when they were young and dumb, pay off the loan now, and worry about equipment later. If you pay off the loan now, it will only cost you $2000. If you pay it off in a year, it will be considerably more than that. Link to comment Share on other sites More sharing options...
Members slapthefunkyfour Posted September 28, 2007 Members Share Posted September 28, 2007 You know, that's not a bad idea. Providing the interest on the loan is pretty low, deferred or whatever, he could even get a $2k/12mo CD or something and make a few bucks for doing nothing more than sitting on his butt. Keep in mind that there are income tax implications though. That is a pretty good idea. Look into that. Link to comment Share on other sites More sharing options...
Members bikehorn Posted September 28, 2007 Members Share Posted September 28, 2007 Pay your loan off man...those {censored}sticks come at you hard when it's time to collect and they'll slap you with interest. Link to comment Share on other sites More sharing options...
Members Roguetitan Posted September 28, 2007 Members Share Posted September 28, 2007 Pay your loan off man...those {censored}sticks come at you hard when it's time to collect and they'll slap you with interest. +1 Link to comment Share on other sites More sharing options...
Members boscal45 Posted September 28, 2007 Author Members Share Posted September 28, 2007 Pay off the loan. i figured this would be the response, and that this is what i would end up doing. but sometimes you just need to hear it from someone else. thanks guys! Link to comment Share on other sites More sharing options...
Members Emprov Posted September 28, 2007 Members Share Posted September 28, 2007 i figured this would be the response, and that this is what i would end up doing. but sometimes you just need to hear it from someone else. thanks guys! Wait, I saw a used F Bass on Craigslist for $1900. Want me to follow up on it for you? Link to comment Share on other sites More sharing options...
Members Mudbass Posted September 28, 2007 Members Share Posted September 28, 2007 It seems pretty simple to me. If the bass is going to earn you a living and pay the bills, buy the bass. If your education is going to earn you a living and pay the bills then put the money toward your education (loan). Link to comment Share on other sites More sharing options...
Members Fran da Man Posted September 28, 2007 Members Share Posted September 28, 2007 Wait, I saw a used F Bass on Craigslist for $1900. Want me to follow up on it for you? No, but you could post a link. Link to comment Share on other sites More sharing options...
Members Perfessor Posted September 28, 2007 Members Share Posted September 28, 2007 Pay the loan. The bass gear will wear out eventually anyway and you'll need more later. Link to comment Share on other sites More sharing options...
Members Thumper Posted September 28, 2007 Members Share Posted September 28, 2007 Need or want?If you need it, ie, current equipment is unreliable, sounds like total ass, etc, etc, cannot do for the gig, you may have to spend.If you just WANT it, well, pay off your loan.Those of us in wealthy societies forget the difference between need and want. We NEED air. We WANT it to smell nice.Cheers!R What he said. Link to comment Share on other sites More sharing options...
Members RSBro Posted September 28, 2007 Members Share Posted September 28, 2007 My old singer bought his Martin with college loan money. Was stolen 7 mo's later out of his suburban in Lubbock. Just sayin'. Link to comment Share on other sites More sharing options...
Members i_wanna_les_paul Posted September 28, 2007 Members Share Posted September 28, 2007 My old singer bought his Martin with college loan money. Was stolen 7 mo's later out of his suburban in Lubbock. Just sayin'. Exactly. Lubbock sucks. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.