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• Blogger's curse: Huge student loans and $900 in gyros

  Posted Jul 15 2008, 11:02 AM by Karen Datko
  Filed under: Debt, Spending, Dining, Karen Datko, Budgeting
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  We like the new blogger who posts at Sallie's Niece. She "went to school thanks to my Aunt Sallie Mae," her site says. "Now watch me struggle to pay and pay." She owes $72,735 to Sallie Mae, and that's not including a nearly equal amount in private loans.

  Sometimes it is a struggle. She has done battle with the "Evil Overdraft Monster" and payday loans. Her latest nemesis -- now vanquished after two years -- was the gyros truck outside her workplace. "At five days a week for three months each year, I am just now realizing that I spent $900, a whole emergency fund's worth of George Washingtons, on very thinly cut lamb rolled in pita bread with some tomatoes and onions!" Our foodie heart goes out to you, Sallie's Niece.   Read More...

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• She earns $150,000 a year, and is sinking deeper in debt

  Posted Jun 20 2008, 05:40 PM by Karen Datko
  Filed under: Debt, Spending, Karen Datko, Budgeting
  Rating:

  "DogAteMyFinances" didn't report a success story when she recently updated her finances for her reading public. When she started her blog, also called Dog Ate My Finances, she had a net worth of $8,000 and $30,000 of debt, she wrote.

  Fast forward six months. The net worth is now $3,000 and the debt has grown to $45,000. "That's just embarrassing when you make over 150K," she admitted. But, she's being an adult about it. She's blaming no one but herself.

  In a reversal of roles, her readers offered sound advice to the personal-finance blogger.   Read More...

  Discuss ( 78 comments) 31,847 Views Digg this | Email this | Link to this

• Tips for avoiding stupid money mistakes in college

  Posted Jun 09 2008, 05:15 PM by Karen Datko
  Filed under: College, Debt, Karen Datko, Budgeting
  Rating:

  Just about everyone who's been to college has a story about money mismanagement. "Moneydummy" at One Money Dummy Getting Smarter is particularly candid about hers.

  "I've spent the last 18 months repaying student loans that I didn't need to incur in order to go to college," she writes. Ouch. That hurts us just to read it.

  She provides five excellent tips for managing money to take care of college and living expenses, and for setting long-term goals to minimize student-loan debt. Here are a couple:    Read More...

  Discuss ( 3 comments) 1,821 Views Digg this | Email this | Link to this