My wife and I are millennials and we paid off our student loans within a couple years once I started my career. I don’t even remember if it was before or after we got married and we’ve been married for over a decade now. Maybe we’re fortunate but I can’t imagine still having a monthly student loan payment.
Of course I also absolutely hated being in debt and having a monthly payment to begin with so I made it a priority to solve that problem asap. Likewise, I have always paid cash for every car I’ve bought. My only never-ending monthly payment is my mortgage and the alternative to that is paying rent which I like even less.
Fundamentally it’s a mindset thing. I also don’t buy taxi rides for my Chipotle orders.
Re:Why the $25,000 car is going extinct
by climb_stealth on Monday June 30, 2025 @04:16AM
(#44420743)
I have a very similar mindset, but, man, mortgages hurt. At least when paying rent the money goes towards a real person. With a mortgage such a big chunk of the payment is the interest that just goes to this faceless entity that is the bank.
How does it not bother you? :)
Most of my landlords were faceless entities too. Obviously I’d rather the house be paid off but I didn’t have $300,000 in cash and I have to live somewhere.
Re:Why the $25,000 car is going extinct
by climb_stealth on Monday June 30, 2025 @07:37PM
(#44429083)
Yep okay, fair enough!
I'm a younger (1994) Millennial and borrowed just $10k to finish my degree. I paid it off the first year I was employed. Very few of my friends still have loans. I'm pretty sure if you got yourself into a never-ending monthly payment situation you probably shouldn't have gone to college to begin with.
And the age of the cohort... Millennials (1980 to '95-ish) have had student loans since as far back as they can remember. What's _another_ never-ending monthly payment?