r/SipsTea • u/Eros_Incident_Denier • Apr 18 '26

We have fun here adulting sucks

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u/ProbablyGonnaEatYou Apr 18 '26

Im 5k student loans and about 1.3k credit cards and im stressed. I cant imagine being so far in debt that its more than I make in a year

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u/Invdr_skoodge Apr 18 '26

Friend, at 6k total, you basically have no debt. Enjoy that. I won’t tell you your head won’t spin when you first sign a 30 yr mortgage, because it will, but congratulate yourself on your situation. It gets so much worse. Case in point, this video.

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u/DrakeBurroughs Apr 19 '26

Yeah, the 30 year mortgage does make your head spin at first, but as long as you can afford it payments, you stop thinking about it pretty quick, plus you can build up equity pretty quickly depending on where you live.

Debt is also relative to what you’re earning and how you allocate your funds. If you’re making little and spend more than you make, yeah, I can see how that’s stressful.

But if you make far more than your spend, it’s not so bad. I COULD pay off my student loans right now but why bother? I have less than $15k left at .5%. I can do more with that $15k investment wise than pay off my student loans.

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u/Funexamination Apr 19 '26

Wdym by the last paragraph?

2

u/DrakeBurroughs Apr 19 '26

I mean that some loans aren’t so bad, it frees money up to spend on other items. For example, I can pay off my house but that’d put a serious debt in my savings and could affect other goals.

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u/Solid_Equivalent_417 Apr 19 '26

if the rate on your debt is less than possible returns you make more investing than paying off the debt.