sob_141 asked:


be completely debt-free and have no money to afford anything and be flat broke? Why don’t people see that? In 2001 when I was in my early 20s, I had over 10 grand saved up by working my as@ off and saving over the years and I was still in college with still no real job yet, and what did I do, I made the stupid mistake of getting a car only a few years old and spending ALL my money to pay it off all at once because I was stupid. Afterwards, I felt destoryed, defeated, and like my dissapointed uncle called me after he agreed I made a stupid move, “a bum with a diamond ring”. I should’ve got an old car for no more than $3,000 or $4,000 and kept the rest in bank. I’m ok now finacially, but back then, I was stupid and I didn’t realize how stupid of a move I made ’till it was too late. So like I said, it’s better to have that several thousand debt toward car payments and at least have something saved up than it is to be debt-free and broke.
If you’re older and have assets and a real job, it’s one thing, but when you’re still young with no assets and still no real-paying job yet, it’s flat out stupid.

SB asked:


I am graduating from law school, and, contrary to what everyone says, most lawyers don’t make a lot of money. I have about $150,000 in student loans, and they are all over the place. Some are subsidized government loans with low, fixed interest rates. Some are private loans with high variable rates. I need to figure out which loans should be consolidated, how to get low monthly payments, and when I should start saving.

My question is: which financial advisers are the best for helping to get out of debt? Is there anyone who specializes in student loans?

Answers relevant to Cleveland, Ohio would be nice, but not necessary if it’s a big, national firm.

Mrs. D asked:


I have recently gone back to school to get my teaching license and racked up quite the debt. I now have a total of 30,000 in student loan debt on top of 8,000 in credit card debt. My husband and I have no assets except for my ancient vehicle. I’m looking for suggestions of places to go to consolidate this debt.