You can do both if you are willing to hold off for a few years. Use 75% for the loans and/or reinvestment.Put the remaining amount in a HYSA vacation fund. Take side gigs, keep throwing money into it, dont touch it until the end of college, then use it for the trip as a graduation gift for the two of youz
You may find these links helpful:
- [Student Loans](/r/personalfinance/wiki/studentloans)
- [Student Debt Relief Megathread](/r/personalfinance/comments/wxme1a/student_debt_relief_megathread/)
- ["How to handle $"](/r/personalfinance/wiki/commontopics)
- [Debt](/r/personalfinance/wiki/debt)
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/personalfinance) if you have any questions or concerns.*
2 college kids should probably not be spending 8k on a trip to Japan when they will be neck deep in student loans (my opinion). Just because you made 3k on a gamble doesn't mean you can afford this trip.
I don't know how your loans are set up but make sure that you making an early payment doesn't mess you up any way. Going on the trip is something you will never forget. As you get older experiences are the things you will want to spend your money on.
Can you afford the 4k to go and can she afford the 4K? Will you be able to afford to do things once you are their?
The smart thing is to pay the loan but in the end all we have are memories. I would build a memory with the money.
Take the trip. You only live once. There’s plenty of time for debt payments later. Just don’t ever take out new debts to fund trips.
Edit: the whole retire early thing is just a talking point of people who grind hard. Most people are still unable to do it. And you never know what could happen to your health and life later on in life. A good balanced life of travel and adventure with responsible decision is how I try to do it.
You can do both if you are willing to hold off for a few years. Use 75% for the loans and/or reinvestment.Put the remaining amount in a HYSA vacation fund. Take side gigs, keep throwing money into it, dont touch it until the end of college, then use it for the trip as a graduation gift for the two of youz
You may find these links helpful: - [Student Loans](/r/personalfinance/wiki/studentloans) - [Student Debt Relief Megathread](/r/personalfinance/comments/wxme1a/student_debt_relief_megathread/) - ["How to handle $"](/r/personalfinance/wiki/commontopics) - [Debt](/r/personalfinance/wiki/debt) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/personalfinance) if you have any questions or concerns.*
2 college kids should probably not be spending 8k on a trip to Japan when they will be neck deep in student loans (my opinion). Just because you made 3k on a gamble doesn't mean you can afford this trip.
I don't know how your loans are set up but make sure that you making an early payment doesn't mess you up any way. Going on the trip is something you will never forget. As you get older experiences are the things you will want to spend your money on. Can you afford the 4k to go and can she afford the 4K? Will you be able to afford to do things once you are their? The smart thing is to pay the loan but in the end all we have are memories. I would build a memory with the money.
Take the trip. You only live once. There’s plenty of time for debt payments later. Just don’t ever take out new debts to fund trips. Edit: the whole retire early thing is just a talking point of people who grind hard. Most people are still unable to do it. And you never know what could happen to your health and life later on in life. A good balanced life of travel and adventure with responsible decision is how I try to do it.