Originally posted by: Ns1
I can't wait to be out of debt so I can buy a nice shiny minicooperS
Originally posted by: Hyperlite
Originally posted by: Ns1
I can't wait to be out of debt so I can buy a nice shiny minicooperS
http://www.turnermotorsport.co...chParamCat=SpecialMini
Originally posted by: child of wonder
My wife and I decided to get a 3 month emergency fund saved up before we started aggressively paying down our $12k CC debt since it's only at 3.99% until paid in full. By the end of May we should have our emergency fund all saved up and then will try to get that CC gone within 2 years.
Then all that's left is my student loan and the house.
However, we'll probably need to get a car loan in the next 2 years, too, since our oldest car is a 1997 Taurus with almost 140,000 miles.
Originally posted by: Naustica
Originally posted by: child of wonder
My wife and I decided to get a 3 month emergency fund saved up before we started aggressively paying down our $12k CC debt since it's only at 3.99% until paid in full. By the end of May we should have our emergency fund all saved up and then will try to get that CC gone within 2 years.
Then all that's left is my student loan and the house.
However, we'll probably need to get a car loan in the next 2 years, too, since our oldest car is a 1997 Taurus with almost 140,000 miles.
Maybe you should sell your computer and TV to pay down your CC debt.
Originally posted by: tidehigh
Originally posted by: Kelemvor
What the hell is a Good debt?
debt that has an interest rate less than or equal to how much you can make in interest with the capital/cash you have.
why pay it off when you can make more money by not paying it off?
Originally posted by: Naustica
Originally posted by: child of wonder
My wife and I decided to get a 3 month emergency fund saved up before we started aggressively paying down our $12k CC debt since it's only at 3.99% until paid in full. By the end of May we should have our emergency fund all saved up and then will try to get that CC gone within 2 years.
Then all that's left is my student loan and the house.
However, we'll probably need to get a car loan in the next 2 years, too, since our oldest car is a 1997 Taurus with almost 140,000 miles.
Maybe you should sell your computer and TV to pay down your CC debt.
Originally posted by: Kaolccips
Originally posted by: tidehigh
Originally posted by: Kelemvor
What the hell is a Good debt?
debt that has an interest rate less than or equal to how much you can make in interest with the capital/cash you have.
why pay it off when you can make more money by not paying it off?
wait... what?
Originally posted by: SearchMaster
Originally posted by: Kaolccips
Originally posted by: tidehigh
Originally posted by: Kelemvor
What the hell is a Good debt?
debt that has an interest rate less than or equal to how much you can make in interest with the capital/cash you have.
why pay it off when you can make more money by not paying it off?
wait... what?
It's a pretty common thought - if you have a mortgage at <6% but can get >9% in the stock market, you're better off investing in the market than paying off the mortgage.
I don't agree with it for several reasons but he's not the only one who thinks that way.
Originally posted by: child of wonder
Originally posted by: Naustica
Originally posted by: child of wonder
My wife and I decided to get a 3 month emergency fund saved up before we started aggressively paying down our $12k CC debt since it's only at 3.99% until paid in full. By the end of May we should have our emergency fund all saved up and then will try to get that CC gone within 2 years.
Then all that's left is my student loan and the house.
However, we'll probably need to get a car loan in the next 2 years, too, since our oldest car is a 1997 Taurus with almost 140,000 miles.
Maybe you should sell your computer and TV to pay down your CC debt.
You mean the CC debt which is just my previous car loan rolled over to the 3.99% to save money and the rest was money borrowed to finish my basement at the same rate, thus increasing the value of our house all done prior to me getting a giant raise?
Sure, I'll sell those items I spent a grand total of $3,000 on when I can afford to pay $1500 per month to the CC once I have an emergency fund saved by the end of May.
Then when the CC is paid off I'll eventually purchase similar items for more than I sold the originals for! Brilliant!
Originally posted by: E equals MC2
Originally posted by: Joemonkey
Originally posted by: E equals MC2
[edit]
well not counting student loan ($12K), but those are good debts so they can wait.
So... if you had a mortgage would you not count your house either because it is a "good"? debt is debt
please do not ruin my moment.
Originally posted by: E equals MC2
Originally posted by: Joemonkey
Originally posted by: E equals MC2
[edit]
well not counting student loan ($12K), but those are good debts so they can wait.
So... if you had a mortgage would you not count your house either because it is a "good"? debt is debt
please do not ruin my moment.