The Immediate Needs

Business school tuition is a strong practical motivator to make first steps to starting a business. My program is extremely expensive and has caused concern for the amount of debt I would need to finance it. A better option would be to supplement the payment with additional income from a side business.

One way this could work is to earn and save the cost of tuition before payments are due on the loans. The total cost of the program is $200,000 and the first payment is due in 30 months. This would be closer to about $7,000 per month. Regular monthly payments on this loan would be approximately $2,500 per month which is what I can estimate to save from my primary income. This leaves average $4,500 per month. This seems like a lot but any portion of it would beneficial and acknowledging that the hardest part is going from zero to $10 rather than $10 to $1,000.

The values are less important than having numbers that provide short term useful purpose. It is a motivation that is more tangible and available than a ten year goal, but a mindset that will serve well after these immediate needs are met.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s