Waiting to withdrawal
No the title is not talking about college because there is now way you could get me to drop out now and start paying off this much debt without a good job. I know some people who have actually done this and they are much worse off now than they were before. They did it because they just didn’t want to go to school for another year but it would have been worth it to them in the comfort they sought if they had just decided to stick around for another couple of semesters. Those people are still working and living in the same conditions they were when they were in school. There’s not any reason that could get me to jump off this ship before I get to shore.
I am actually thinking in just the opposite way right now. If anyone read my last blog they will see that I have been getting a little frustrated with this whole college life. Especially now that summer is here and I work as a delivery driver. This sets up a very difficult decision with the compounded problems of rising gas costs and lack of student business for t he next three months. Every week it gets more difficult to keep my hands out of that savings account and to keep my head above water. This week I have trying my best to actually remedy the situation instead of living with it.
I’ve started my efforts by getting another job as a cook at another restaurant. Though I will go back to driving the fall, the pay here is consistent and doesn’t burn any gas. The second prong of my efforts has come in the form of a little bit of aid from my parents. Though they sent me a substantial amount of money all at once, it came with some much accepted conditions. I had been researching various ways of saving and ways to make more money with the minimal amount of work. I figured out one way to actually make up for a whole month’s rent in the fall. The solution is something called a certificate of deposit. This type of account is basically a savings account I can’t touch for a few months. It compounds in interest over the entire time and then when it matures I can take it all out with that extra money in there. I think that if I am in a better place financially when it does roll over, I may just put it back in again and double that interest.
At this point I think that this remedy is the best way to make money without having to possibly lose money. This account is a way for my parents to see my level of responsibility with my money, and a way for me to invest without risking all of it on a bet. I hope that this whole thing works out the way I think it will and I can use it all to pay back some debt at the end of next year. Then I can save for my grace period as well and get way ahead in my payments.
It sounds like a plan to me, and I’m stickin to it.