GeneralBusiness Decision
Posted:

GeneralBusiness DecisionPosted:

ZeGermanGuy
  • Junior Member
Status: Offline
Joined: Dec 17, 20149Year Member
Posts: 73
Reputation Power: 2
Status: Offline
Joined: Dec 17, 20149Year Member
Posts: 73
Reputation Power: 2
Should I take a year or 2 break after I graduate high school to take the time to pay off the debt for this online business?

Or should I go to a University while trying to run the business? (Keep in mind the workload of the business and college)

Also for some insider info. This business makes around 20,000-30,000 net profit. To give you an idea
#2. Posted:
-ORML-
Status: Offline
Joined: Mar 18, 20168Year Member
Posts: 1,339
Reputation Power: 1442
Status: Offline
Joined: Mar 18, 20168Year Member
Posts: 1,339
Reputation Power: 1442
ZeGermanGuy wrote Should I take a year or 2 break after I graduate high school to take the time to pay off the debt for this online business?

Or should I go to a University while trying to run the business? (Keep in mind the workload of the business and college)

Also for some insider info. This business makes around 20,000-30,000 net profit. To give you an idea

Speaking from my own personal experience I would probably wait until the debt is paid off and than go to school.
The biggest regret of my life was not paying off my student loans before going back to school.

Also going to university and doing a business at the same time wouldn't be good because you would be stressing all the time about paying back your debt and doing good in school.


Last edited by -ORML- ; edited 1 time in total
#3. Posted:
juno
  • Winner!
Status: Offline
Joined: Mar 10, 201311Year Member
Posts: 3,368
Reputation Power: 10221
Motto: https://kick.com/cycl3z
Motto: https://kick.com/cycl3z
Status: Offline
Joined: Mar 10, 201311Year Member
Posts: 3,368
Reputation Power: 10221
Motto: https://kick.com/cycl3z
It's definitely a good decision to wait and build a little bit of credit so your loans will be less.
#4. Posted:
TOXIC
  • Summer 2023
Status: Offline
Joined: Jan 16, 201212Year Member
Posts: 22,329
Reputation Power: 32745
Motto: TTGS #1 SHIT POSTER!
Motto: TTGS #1 SHIT POSTER!
Status: Offline
Joined: Jan 16, 201212Year Member
Posts: 22,329
Reputation Power: 32745
Motto: TTGS #1 SHIT POSTER!
I'd wait till the debt is paid off mate.
#5. Posted:
WittLowry
  • Summer 2018
Status: Offline
Joined: Jun 20, 20158Year Member
Posts: 512
Reputation Power: 59
Status: Offline
Joined: Jun 20, 20158Year Member
Posts: 512
Reputation Power: 59
Take a break and pay it off man. You don't want to build up all kinds of stress while going to school. Take time to breathe and figure out what YOU wanna do.
#6. Posted:
002
  • Fairy Master
Status: Offline
Joined: Sep 25, 20149Year Member
Posts: 4,817
Reputation Power: 7282
Status: Offline
Joined: Sep 25, 20149Year Member
Posts: 4,817
Reputation Power: 7282
Why would you need to go to school if the business is already starting to be successful? To me there's no reason to go to college, focus on growing the company and get debt free.
#7. Posted:
Sean
  • Administrator
Status: Offline
Joined: May 14, 200815Year Member
Posts: 7,690
Reputation Power: 32236
Status: Offline
Joined: May 14, 200815Year Member
Posts: 7,690
Reputation Power: 32236
ZeGermanGuy wrote Should I take a year or 2 break after I graduate high school to take the time to pay off the debt for this online business?

Or should I go to a University while trying to run the business? (Keep in mind the workload of the business and college)

Also for some insider info. This business makes around 20,000-30,000 net profit. To give you an idea


Depends how large the debt is vs its income
#8. Posted:
FunkyBuddha
  • TTG Addict
Status: Offline
Joined: Aug 31, 201112Year Member
Posts: 2,402
Reputation Power: 181
Status: Offline
Joined: Aug 31, 201112Year Member
Posts: 2,402
Reputation Power: 181
I would wait until you pay off your debt and you can certainly handle the work load. I was finishing my school while working 45-60 hours in a stressful environment and it can really drain you.
#9. Posted:
Jasty
  • Shoutbox Elite
Status: Offline
Joined: Jul 17, 201013Year Member
Posts: 6,067
Reputation Power: 4376
Motto: bonk
Motto: bonk
Status: Offline
Joined: Jul 17, 201013Year Member
Posts: 6,067
Reputation Power: 4376
Motto: bonk
You should take some time off, and go to university when you are ready.
#10. Posted:
olvias
Status: Offline
Joined: Aug 23, 20203Year Member
Posts: 9
Reputation Power: 0
Status: Offline
Joined: Aug 23, 20203Year Member
Posts: 9
Reputation Power: 0
it depends on your purposes and needs. Personally I would try to run the business first
Users browsing this topic: None
Jump to:


RECENT POSTS

HOT TOPICS