I am a frugal person entering his senior year in college [age 21]. I have been following advice like the stuff in thread 84915 and thread 99852 and living below my means. I sought advice in Financial books for college kids my age [for example, generation debt], but left feeling wanting more because they focus primarily on how to cut expenses [skipping the latte, etc]. So, I have some student loans already, but will need more for my senior year. I also have some money set aside, but I should I use this money to lower the loan amount that I'll take out or use this money for an investment (Roth IRA, index fund), and take out more for my student loans ? Here's my scenario:

Please give advice on dealing with money and guilt about money. [Long question.] How can I learn to feel less guilty about financial decisions, trust my judgment about money, and have faith that I can support myself? There is some evidence that I am pretty financially responsible. (I am going to give some details here, so you can judge for yourself.) I am currently in my 30s. In 2000 when I finished school my net worth was about -$20,000 from school debt. Now my net worth is just over $200,000. My first job out of school paid about $30k per year; I have worked my way up and now earn about $90k. I worked hard to be frugal and saved $10,000 my first year working. I have good job security. I follow most recommendations for good finances. I max out my 401(k) and Roth IRA, and save some extra outside of that, in good investments that I understand (mostly low-cost index mutual funds). I have an emergency fund. I have a house (an affordable one, with a 30-year fixed rate mortgage). My mortgage is my only debt. I have good insurance, including for the house, car, health care, death, and disability. My accountant says I'm doing well. I'm generous with friends. I give money to charity; currently about 2% of my take-home pay but I'm working on increasing that.

Asking for a friend: She will be going to Thailand to teach students mostly from Burma and needs some advice. If you have any follow-up questions for her, you can ask them, and if she gets a chance, she will either email you directly, or she will email me and I will post what she says. Here is what she has to say: In a couple months I will be headed off to Chiang Mai, Thailand to teach several classes to a group of about 20 students between the ages of 17 and 22. Most (if not all) of my students will be from Burma. I have been asked to teach a class this year related to budgeting/finance. The school has found that once they send the students back to their communities they do not seem to have a concept of a budget. An example is a student who graduated and then was sent to manage another recently started small school. Unfortunately he was not sure what to do with the resources given him. Apparently many of the students look at money as something to be spent right when it is earned.