I just posted some of this to another thread, but it belong here, too (and I want a Wii):
8 years ago, I was making $24,000 a year and needed to move on, make more money and establish a career. So, I ended up going to law school. But before I went to law school, I did calculations upon calculations. I calculated my ROI (Return on Investment) for three years lost income and the debt incurred. I compared business school to law school. And I eventually decided on law school. Ultimately, I figured that if I was near the top of my class, it was easily a successful investment.
I next had to turn to the "being near the top of my class" and I studied my ass off. I took out student loans to enable studying full-time. And it worked, I got a great job. Affter graduation, I ended up making twice what my projections were for. However, I would not have been at the top of my class had I gone part-time (they don't rank part-time students) and my grades would not have been as good if I had had double responsibilities. I could have held off on going to school, but I don't know when I would have saved enough to live for 3 years off my savings. I could be starting law school now at that rate. The only way for me to successfully give it my best shot was to go full-time and to do that I needed to take out debt.
Now, I don't recommend this as an "everyone should go to law school" post. There are a ton of stories out there which say not to. But for me, it feels really good to say "my best investment was in myself."
Have you paid off your debt? Managed to save for your dream home? Had an awesome investment pan out? Share your personal finance success stories here.
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