Day 16: Something difficult about your lot in life and how you are working to overcome it.

I'm going to have to say college loans is this one for us.  While I know our "lot" is similar to many others who have gone to college, it is a challenging one.

Alex and I are going on 10 years out of college.  When we exited KSU, together we had close to $50,000 in student loans.  We both worked a great deal during school, but we still had to carry loans.  It was daunting to think about, so we just didn't.    For those who aren't as fortunate as we are;-), student loans are set up for 15 years.  So in essence, if we keep paying our monthly payments, we will finish paying them off in 2019.  Ugh.  

Shortly after we had Rowan, we talked seriously about our desires and dreams for our children.  We want them to go to college and find a career they love!  We also hope to ease the burden of the university experience price tag as well.  So, while we contribute to 529s for both of our children, we are still chipping away at our own educational experience each month.  Sidebar-if you don't have a 529 for your own children, I would highly encourage you to do so.  We were told if we put in 300 each month from birth to age 18 per child, we would probably be able to cover their educational career 100%.  Yeah, that is not a typo...  Time is on your side, but you need to start now to allow the money time to grow!

Not once will we ever say we regret this "purchase," but it is a costly lot in life each month until we get to the finish line in hopefully less than 5 years;-)